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Dogecoin

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 <p class="paragraph">Dogecoin (DOGE) is leading as the best performer for the day among the top 10 cryptocurrencies by market cap. Meanwhile, each DOGE is currently priced at $0.07368, contributing to a total market capitalization exceeding $10.43 billion at the time of writing.</p>
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 <p class="paragraph">With a strong momentum for the most capitalized meme coin in the cryptocurrency spectrum, crypto traders and investors dispute controversial opinions on whether Dogecoin could <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> the psychological mark of $1 per coin.</p>
 <p class="paragraph">Such a price target would mean a surge of 1,257% from current values. Moreover, it would mean a market capitalization of $141.57 billion dollars, considering Dogecoin’s current circulating supply.&nbsp;</p>
 <p class="paragraph">Interestingly, this would place DOGE as the third-largest cryptocurrency, after Ethereum (ETH) with $218.61 billion and Bitcoin (BTC) with a $668.84 billion market cap.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="640" src="https://cdn.thebittimes.com/images/2023/10/26/93cb3e79a036a7f307fac56d5adeaf5d.webp" alt="Top 10 cryptocurrencies by market cap." class="wp-image-134299" srcset="https://cdn.thebittimes.com/images/2023/10/26/93cb3e79a036a7f307fac56d5adeaf5d.webp 1024w, https://cdn.thebittimes.com/images/2023/10/26/93cb3e79a036a7f307fac56d5adeaf5d.webp 300w, https://cdn.thebittimes.com/images/2023/10/26/93cb3e79a036a7f307fac56d5adeaf5d.webp 768w, https://cdn.thebittimes.com/images/2023/10/26/93cb3e79a036a7f307fac56d5adeaf5d.webp 1536w, https://cdn.thebittimes.com/images/2023/10/26/93cb3e79a036a7f307fac56d5adeaf5d.webp 1800w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Top 10 cryptocurrencies by market cap. Source: <em>CoinMarketCap</em>
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 <p class="paragraph">However, it is important to understand that Dogecoin has one of the highest supply inflations among the top 10 cryptocurrencies, which directly impacts the ability of DOGE to <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> higher prices even when its demand (measured by capitalization) grows over time.</p>
 <p class="paragraph">Notably, Dogecoin had its all-time high price of $0.73 on May 08, 2021, with a market cap of $88.80 billion. In case DOGE ever <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>es its all-time high capitalization, its price would be more than 15% lower, trading at $0.62 with the current — and growing — circulating supply.</p>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">As for its performance on October 26, DOGE moved from as low as $0.06632 to its current price for 10.58% gains at the time of publication.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/10/26/5ebedb0c58498be130ca52cb238fab7d.webp" alt="DOGE 1-day price chart-" class="wp-image-134300" srcset="https://cdn.thebittimes.com/images/2023/10/26/5ebedb0c58498be130ca52cb238fab7d.webp 1024w, https://cdn.thebittimes.com/images/2023/10/26/5ebedb0c58498be130ca52cb238fab7d.webp 300w, https://cdn.thebittimes.com/images/2023/10/26/5ebedb0c58498be130ca52cb238fab7d.webp 768w, https://cdn.thebittimes.com/images/2023/10/26/5ebedb0c58498be130ca52cb238fab7d.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DOGE 1-day price chart- Source: Finbold
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 <p class="paragraph">Despite not being impossible to <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> a price of $1 per coin, DOGE would need to acquire unprecedented demand to overcome its supply increase. This could be triggered under friendly macroeconomics and high adoption scenarios for the leading ‘dog’ coin.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/can-dogecoin-reach-1-tbt67966.html">https://thebittimes.com/can-dogecoin-reach-1-tbt67966.html</a></p>

Can Dogecoin reach $1?

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