Dogecoin Predicted to Reach $1 Amid Increased Volatility

According to CryptoPotato, Dogecoin (DOGE) has experienced increased volatility, with some predictions, including one by Twitter user AngeloBTC, suggesting it might reach $1. The memecoin has spiked by 6% in 24 hours and over 8% weekly. Dogecoin's sustained popularity is partly attributed to its endorsement by Elon Musk, Tesla's CEO, and the interest in other memecoins like Shiba Inu (SHIB).The first-ever memecoin, Dogecoin, is among the most intriguing digital assets for traders due to its enhanced volatility. Numerous analysts have laid out predictions involving the coin, with some envisioning that it could hit the coveted level of $1. AngeloBTC is one such individual who suggested that the target might be reached in the near future.DOGE has spiked by nearly 6% in the past 24 hours and over 8% on a weekly basis. However, this surge is far from the all-time high level registered in May 2021, when the asset was trading at approximately $0.70, with some people assuming it might break above the $1 mark. Another reason DOGE has maintained popularity over the years could be its relation with the world's wealthiest person, Elon Musk. The Tesla CEO is known as a keen supporter of the memecoin and often praises it on social media platforms.Apart from Dogecoin, there are numerous other memecoins that have made headlines in the past several months, including its rival Shiba Inu (SHIB).