2021 was a monumental year for Dogecoin – the cryptocurrency appreciated multiple times over in price before crashing back down. After peaking above $0.70, Dogecoin is now trading at around $0.11 in 2022. While the token tried to recover in 2022, it was stung by the depegging of Terra and could not recover throughout 2023. While Dogecoin is down significantly from its all-time highs, some investors believe that DOGE still has the potential to each the coveted $1 mark. However, a lot will need to happen for Dogecoin to reach $1 per coin. The cryptocurrency markets will need to turn around and major cryptos like Bitcoin and Ethereum will need to reach new all-time highs for DOGE to have cryptocom cardano a chance at climbing higher. As of this writing, Dogecoin has a circulating supply of nearly 133 billion coins. At $10 per coin, Dogecoin would have a market capitalization of over 1.3 trillion dollars, more than the market cap for the entire crypto market. In the short term, a move to $10 is unlikely.