The $1.00 mark has long been a goal of Dogecoin investors, also known as the DogeArmy. Over the past couple weeks, the famed cryptocurrency has soared to exponential heights which surprised many as Dogecoin initially was created as a joke mocking Bitcoin.
In a recent article with Newsweek, the price of meme cryptocurrency Dogecoin may continue to rise and could eventually hit $1, its creator and co-founder Billy Markus has said. “It’s an open market, so the current value is simply decided by whatever someone is willing to pay for it at a specific point in time. If the world collectively decides they are willing to purchase it for a dollar, then it’s worth a dollar. In the world of cryptocurrency valuations, I would say, historically the question is less about ‘why?’ and more about ‘why not?” Markus said.
More than anything else, Markus seems to be saying that the price of Dogecoin can potentially reach $1.00 but it completely depends on whether investors and the market will allow for it. Buying and Selling. Will there be more buying or more selling? The assumption is that the more people that buy Dogecoin, the likelihood it will go up in price.
Markus also tweeted the lyrics of a well known song in regards to whether or not you should hold or sell Dogecoin.
Currently, Dogecoin is trading at nearly $.40 up considerably from its debut price in 2014 at $0.0004.