Can Dogecoin Reach $1 in the Next 12 Months?
The hype and buzz around DOGE appear to be fading, making it a clear pitfall for investors.
Overview
If there's one cryptocurrency that deserves to be in the crypto doghouse right now, it's Dogecoin (CRYPTO: DOGE). This dog-themed meme coin is down more than 30% this year and now trades at a head-spinning 90% discount to its all-time high of $0.74 from May 2021.
Dogecoin has had more than five years to turn things around, but has never come close to regaining the hype and buzz it had during the meme coin mania of 2021. Long story short, Dogecoin's chances of hitting $1 within the next 12 months are minimal, and here's why.
Details
For more than five years, billionaire Elon Musk has been one of the highest-profile supporters of Dogecoin. He has posted about it on social media countless times, appeared in public wearing a Dogecoin T-shirt, and even made a guest appearance on NBC's Saturday Night Live as "the Dogefather."
Source
Originally published at www.fool.com.