Dogecoin regains Crypto Spotlight; will it finally hit $1 in 2022?

Sahana Kiran
Source – Unsplash

The meme coin market welcomed several new assets over the past couple of months. Despite the arrival of an array of meme coins, Dogecoin [DOGE] continues to remain one of the most popular cryptocurrencies. The growth that the coin and its network have been witnessing was proof of the same.

The OG meme coin, DOGE was one of the earliest cryptocurrencies to step foot into the market. Even though the coin started off as a joke, it has recorded major growth in terms of popularity. Even though its price has remained rather stagnant, the community of the coin was soaring.

Recently, Dogecoin finally surpassed the 500,000 holder mark and the asset has been on a parabolic train ever since. Earlier today, the total holders of the DOGE surged to a high of 556,700. WhaleStats revealed this news on Twitter. The tweet read,

Furthermore, Dogecoin was inching closer to 600k holders. While the community was celebrating this, it was brought to notice that Dogecoin’s official Twitter page recorded a new high. Currently, the network has a total of 3 million followers on Twitter.

The network announced this milestone through a small video. Dogecoin tweeted,

Dogecoin’s price soars but Shiba Inu emerges stronger

The emergence of Shiba Inu certainly sidelined Dogecoin. The latest price movements of both these assets were proof of the same. While the bulls pushed most of the coins in the market towards recovery, Shiba Inu witnessed a much stronger push. The meme coin recorded a 32% surge over the last couple of days.

Dogecoin, however, surged by only 13% throughout the previous few days. At press time, DOGE was trading for $0.1563 with a 5.76% daily rise.

Additionally, DOGE’s inability to hit $1 is a topic that has been widely talked about. Elon Musk’s endorsements or GenZ’s TikToks did not push the OG meme coin to the $1 mark. However, the community speculated that the asset’s latest surge in the number of holders and social media presence could drive the price of DOGE.

Therefore, $1 isn’t just a dream after all.