Dogecoin to $1? Here's What DOGE Founder Thinks

Dog-themed cryptocurrency Dogecoin ($DOGE) is trading higher early Friday, rising for the fourth consecutive day since July 7. Bitcoin surged to a new all-time high as investors piled into risk assets and closed short bets. Dogecoin joined the rise, increasing by nearly 12%.

At press time, Dogecoin was up 11% in the last 24 hours to $0.1998 and up 20% weekly. Dogecoin trading volume has surged 37% in that time frame, reaching $2.44 billion per CoinMarketCap data.

According to analysts, $DOGE appears to be poised for a breakout. Bullish technical patterns, like a multi-year cup-and-handle and triple bottom, coincide with an increase in institutional whale accumulation.

Eyes are on where Dogecoin trends next, with targets on the daily SMA 200 at $0.224 in the short term and further on at $0.40 if the rally continues.

Dogecoin continues to attract attention, with discussion regarding whether it could ever hit $1. At current prices, a surge to $1 would mark a 426% increase — somewhat lofty given Dogecoin's momentum in this current cycle.

Dogecoin to $1?

Will Dogecoin reach $1? One of the coin's creators has weighed in.

In a recent post on X, Dogecoin cofounder Billy Markus, also known as "Shibetoshi Nakamoto," aimed to answer crypto's frequently asked questions (FAQs), like "why is bitcoin going up?" and "will dogecoin hit $1? And which cryptocurrency should I buy?"

Markus answered "I don't know" to the first two questions, including "will Dogecoin hit $1?" and to the final one, "whatever you want to buy." The response "I don't know" highlights the element of the crypto market's volatility, where past results do not guarantee future outcomes.

Given his characteristic humor and approach to topics in the crypto space, the Dogecoin cofounder's tweet was most likely intended to be playful.