Dogecoin (DOGE) is currently trading within a narrow channel, but there are numerous bullish factors that may help it achieve the highly anticipated $1 price point. Achieving this milestone could redefine its role within decentralized finance (DeFi).
The cryptocurrency's substantial market cap of $53 billion presents a challenge to sustaining ongoing upward momentum, as significant liquidity is required to continue pushing the price higher. Despite these challenges, Dogecoin remains a crypto asset to watch.