I'm basically in no hurry to see this happen, since crypto is all about utility. Dogecoin was never meant to be used as a store of value, so I'd expect it to decline in price right after the hype is over. Who knows what the future holds for the cryptocurrency? Just my thoughts
Investing in crypto, we shouldn't talk about utility or use case here, given the fact that apart from bitcoin being widely adopted as a payment method, there aren't any accepted altcoins widely accepted and used in real life. Doge or potential altcoins are similar, as they are both made for profit and then disappear from the market.
The funny fact is, Doge is a joke, a coin with no utility as many say, but it has outlasted any of the top altcoins to date. EOS, LISK, NEM...all are topcoins, but now I don't see anyone talking about them anymore, but doge is still here and we still talk about it every day.
Yes, it's true that altcoins are just crypto assets that are used by investors and traders only to be able to take profits because altcoins can indeed provide very large and tempting profits when there is hype.
For the doge altcoin, I think it will be very difficult to reach the $1 target because indeed many have suffered huge losses from holding doge last year when it was experiencing a significant price increase.
Even though there is support from world billionaires and the community has a large number of members, in the last year many investors have suffered losses from doge and most of them have been stuck at high prices.
So if one day the doge experiences a price increase it will not be able to survive. Automatically investors who used to buy doge at the price above will sell all of their doge assets to be able to recover losses.
