If This Happens, Dogecoin Won’t Stop Until It Crosses $1; Analyst

The expectation that the Dogecoin price will cross $1 is not new, especially for investors who witnessed the historic 36,000% rally in 2021. This rally which was spurred on by billionaire Elon Musk had seen the meme coin rise from less than $0.03 to over $0.7. While this had shown Musk’s influence, it had also shown the potential of meme coins like Dogecoin to move rapidly to new all-time highs. Thus, triggering the expectation that the meme coin could see a similar run.

Dogecoin At $1 Is Simply Expected

Over the years, countless investors and analysts have predicted that the Dogecoin price will reach $1. So far, it seems less of a matter of if and merely a matter of when. Some had speculated that the advent of Dogecoin ETFs would trigger the move, but this did not happen, despite DOGE ETFs now trading in the market.

Given the disappointing performance of the Dogecoin ETFs, the focus has now shifted toward other factors that could drive the Dogecoin price to this milestone. Crypto analyst Crypto Patel also believes that the DOGE price is headed for $1, but this will only happen if there is another meme coin season.

A meme coin season simply refers to a period of time when meme coins such as Dogecoin are rising rapidly. This term was first coined back in 2021, following Dogecoin’s initial run when rivals like Shiba Inu popped into the scene. By the time players like SAFEMOON entered the stage, it was a full-blown meme coin season where new coins created as “jokes” rose to unimaginable heights.

Dogecoin, being the largest and leading meme coin in the space, has usually set the tone for the meme coin season. However, the last meme coin season saw a complete deviation from the Dogecoin dominance, with investors favoring coins created on the Solana blockchain instead.