Remember when Dogecoin hit $0.73? Everyone said a dollar was next.

Back in May 2021, everyone from your brother in law to your little cousin had DOGE on their minds. It was a lot of people’s first meme coin. 

Even celebrities got involved, sending the market cap to a mind-boggling $88.8 billion. 

Fast forward to January 2025, and DOGE is sitting at “just” $0.3532 

That’s still impressive, but not quite the dollar we all had in mind. 

The question now is: will 2025 be the year of the $1 DOGE? 

The Numbers Game

Here's what's interesting about DOGE: unlike Bitcoin's hard cap of 21 million coins, Dogecoin keeps printing. 

We're seeing 5 billion new DOGE come into existence every year, like clockwork. 

Right now, there are 147.63 billion DOGE floating around out there.

Even if DOGE hit its old market cap of $88.8 billion again, each coin would actually be worth less in relative terms. 

Thanks to all those new coins entering circulation, you'd need the price to hit $0.6015 to match the same market impact. 

That's crypto math for you!

An Even Bigger Challenge

Here's the thing about DOGE that most folks don't talk about: just like a real dog, it needs constant love to grow. 

While Bitcoin gets more valuable because it's scarce (like digital gold), Dogecoin is more like a currency that keeps printing. It's not as intense as the US dollar or Turkish lira, but new DOGEs are still entering the pack every day. 

To keep the price up, you need new buyers coming in regularly to balance out those new coins hitting the market.

It’s sort of like a balloon that’s running out of helium – someone needs to keep tapping it every so often to stop it from not only falling but also just to keep it at the same height. 

Back in 2021, there were plenty of taps to send that ballon higher and higher… but now, not so much.

These days? Not so much tapping is going on. 

What Could Send DOGE Back to the Moon?

Numbers wise, DOGE needs another $36.65 billion in market cap to touch its old peak. That's no small change. But in crypto, anything's possible with the right catalyst.

What could do it? 

Maybe some major companies will start accepting DOGE for payments. After all, Elon has only been growing in influence and may still hold a soft spot for his old DOGE, giving it some new tricks.

New tech may make DOGE more valuable than just a meme coin – payments are worth a lot of money. Or maybe – just maybe – social media gets that DOGE fever again, and your cousin proves to be the best HODLer of them all.

It’s a DOGE Eat DOGE World Out There

Is DOGE's peak price impossible to reach again? Not at all – crazier things have happened.

But it won’t be easy.

The original meme coin has some real challenges to overcome, mainly because it keeps minting new coins every year without slowing down.

But the thing about crypto is that when you think you've got it figured out, it surprises you. 

DOGE has already shocked the world once – who's to say it can't do it again?