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Dogecoin (DOGE) has been making waves in the crypto space as it surges by a whopping 10%, reaching its highest price level in five weeks. The sudden uptick in DOGE’s value has left many wondering if this could be the start of something bigger.
Galaxy Digital’s Head of Research, Alex Thorn, made a bold prediction earlier this year that Dogecoin would reach $1 and surpass a market capitalization of $100 billion. While it may seem like a lofty goal, considering DOGE’s current valuation is approximately $22 billion, some are already jumping on the bandwagon.
The recent price hike can be attributed to various factors, including increased institutional investment, growing adoption in the mainstream space, and even regulatory clarity. Dogecoin has been making strides in recent times, from its involvement in charity drives to partnerships with established companies.
DOGE’s sudden surge may not necessarily mean that it will reach $100 billion or even $1, but the fact remains that it has been making steady progress. This could be a sign of something bigger on the horizon, and investors are taking notice.
It is essential for users to conduct their own research before investing in any cryptocurrency, including Dogecoin.
Source: u.today
