Thanks to people like Elon Musk and other members from the dogecoin community, the interest for the cryptocurrency skyrocketed in the past few months. The hype was driving the value up by almost 50% every single day. With the hype people’s expectations also started rising. Many started risking almost all of their savings with a hope of it reaching a value of $1 or $10 in just a few weeks. But later… Thanks to Elon Musk and Chinese government, there came a week unlike any other that trembled the whole market of cryptocurrencies and ruined the hopes in the minds of many investors with it. So many lost a lot of their hard earned money. Now the majority of late investors are no longer hoping for dogecoin to cross that $10 or even $100 price mark. They just want it to go over a price of $0.60 or even $1 so they can break even or luckily get some little profits with it. So realistically can Dogecoin reach $1 this year? From the past few weeks, the whole crypto market has been struggling to recover from this devastating crash repeatedly. Elon Musk’s tweets aren’t even helping that much anymore. Now people don’t have enough money left to contribute in changing the overall sentiment of the market. The hype that made the huge gains possible is now slowly dying down. The damage is done, but does that mean there’s no hope left? No. There’s still hope. You may already know that Elon Musk is working with the dogecoin developers to improve how the coin works and as he mentioned soon Tesla is going to accept dogecoin as an alternative payment for its electric cars. So just like Bitcoin, If Tesla buys $1.5 billion worth of dogecoin and announces it as an alternative payment, then without a doubt it’s gonna help the market and possibly revive the same old golden hype in the overall community. However, considering the current ongoing situation in the crypto market, I doubt that Elon Musk is going to invest that much money in dogecoin right now. Also I have a feeling that the biggest dogecoin wallet that owns more than $15 billion worth of the cryptocurrency belongs to Elon Musk and if that’s the case, Tesla probably won’t have to invest another $1.5 billion in dogecoin to accept it as a payment anymore. If that happens, then I don’t think the announcement alone is gonna be that much effective to push the price of dogecoin above 1$. There’s no doubt that one day or another Dogecoin is going to cross that $1 milestone. But this year the possibility looks a little bit low. Still, no one can predict the future. The mysterious power of memes and the internet can make almost anything possible.