Will Dogecoin Ever Hit $1? Experts Predict Wall Street Memes Token Has More Upside As It Reaches $750,000 In Presale

While new meme coins this year have returned 1000x gains or higher for investors, the largest meme token Dogecoin continues to trade over 90% below its all-time high – just under $0.74 was hit when Elon Musk appeared on Saturday Night Live back in May 2021.

Still having a $10 billion market cap now priced at $0.073, it’s difficult for the DOGE price to rally as strongly as low market cap meme cryptocurrencies can on a low trading volume.

Crypto price charts in 2023 have been dominated by the likes of Pepe, Wojak, Generational Wealth (GEN), Turbo, and recent arrivals such as Copium, RefundCoin (RFD), Sponge and Wagmi Coin.

Newer still, upcoming meme token ICOs like Wall Street Memes (WSM) and AiDoge (AI) are seeing a surge in demand even prior to being listed on exchanges. Still at the presale stage, in this article we compare $WSM to $DOGE and forecast a Dogecoin price prediction.

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Dogecoin Price to $1? Realistic Expert Predictions  

As DOGE and other big caps continue to trade sideways, investors are banking on the explosiveness of meme coins to outperform the rangebound market – analysts have predicted Bitcoin and Ethereum, while green this weekend, could continue to chop and consolidate well into 2024.

The global meme coin phenomenon Pepe coin, in contrast, exploded by millions of percent since its ICO in April. That inspired dozens of similar meme crypto projects, many of which outperformed BTC and ETH.

Despite the raging meme coin mania, the Dogecoin price is failing to mirror the same explosive price movement. Technical analysis of the largest meme coin paints a bearish outlook and shows a further correction to be possible. Crypto price charting platform TradingView gives a ‘Neutral’ signal to $DOGE on the weekly and monthly timeframe, and its six month returns are -22%.

The Dogecoin price is under its 200-day Simple Moving Average (SMA) at $0.0887 and 200-day Exponential Moving Average (EMA) at $0.0889. Alongside that, 13 of the 15 most important moving average indicators point to significant selling pressure on the flagship meme coin. If the DOGE price loses the $0.07 support level, a further sell-off could follow.

With an all-time high of $0.739 on Binance, Dogecoin was once considered a lock to breach the $1 mark. However, the token’s $10 billion market capitalization today with a price of $0.072 highlights how unlikely it is for the token to hit its goal – its market cap would be $139 billion if the DOGE price hits a dollar.

In other words, for the Dogecoin price to hit $1 would mean the DOGE market cap being higher than that of Tether (USDT) and USD Coin (USDC) put together, and over 60% of Ethereum’s market cap, which is unlikely to ever be achieved by any cryptocurrency.

Even Binance Coin (BNB), XRP and Cardano combined don’t reach a $100 billion valuation. They sit in the #4, #6 and #7 spot ahead of Dogecoin in #8 in the top ten largest cryptocurrencies. DOGE would need to overtake all of them, and the two largest stablecoins, to sit #3 behind Bitcoin and Ethereum if it were ever to reach one dollar per token. DOGE would flip Bitcoin in market cap before it hit $4.

Dogecoin holders are also concerned about the temporary nature of the Elon Musk-induced rally. Tesla and Twitter CEO Musk has been a vocal supporter of Doge, which gave a strong boost to the token in the past – most recently, the $DOGE price skyrocketed after Musk made the Dogecoin symbol into the Twitter logo.

However, as Twitter reverted to its old blue bird logo, the Dogecoin price retraced and has not recovered to its November 2022 highs – marking a lower high on the DOGE price chart.

This week, Elon Musk stated that while the largest meme coin remains his favourite cryptocurrency, he would advise against betting the farm on Dogecoin. As Musk’s magic continues to fade away, Dogecoin will have to generate price growth through its community and mass adoption, something it has failed to do this quarter.

Wall Street Memes Token Presale – Next Dogecoin Rival?

The popular Wall Street Memes community has capitalized on the high demand for newer, more profitable meme coins and launched its own token. WSM token is showing ‘next Pepe’ or ‘next Dogecoin’ growth prospects, according to some of the most bullish analysts.

The Wall Street Memes presale has already sold out its first stage and now raised over $750k – quickly approaching $1 million after which its price will increase further. The token is currently priced at $0.0253.

Traders are backing $WSM to offer the same profitability as Pepe coin. Similar to $PEPE, the Wall Street Memes token is completely community driven and reflects its commitment to user adoption through its tokenomics. The entire supply of $WSM tokens is available for the community, with no separate allocation to private sale or team allocation.

50% of the total 2 billion tokens available is allocated to the presale while 30% will be used for community rewards. Centralized and decentralized exchanges will receive 10% each to maintain liquidity after launch. To further boost user adoption, the project has announced a $50k $WSM airdrop, distributed to 5 lucky community members.

One of the biggest threats to secure asset management in crypto is the prevalence of scams and rug-pull schemes. However, investors are trusting the $WSM token due to the community’s long history as the ‘King of Stonks’ and their successful ventures into Web3.

The WSM community made over $2.5 million in 2021 through their popular Wall St Bulls NFT collection, still having over 3,500 owners on OpenSea. The internet meme its project is based on gained global fame due to the GameStop and AMC short squeeze, one of the rare instances when an army of internet traders took on established financial institutions and won. The Wall Street Memes presale seeks to bring the same democratizing power to crypto and enable small traders to generate higher profits.

The 1 million-strong WSM army, combined with the project’s brand value, makes the token an ideal candidate for a Tier 1 exchange listing, potentially even including Binance which listed Pepe and Floki Inu after they attracted a high buying volume this quarter.

However, the same community strength means that tokens are expected to sell out quickly – the AiDoge presale hit its hard cap last week, having only been on presale for one month.

Interest investors have limited opportunity to jump on the $WSM bandwagon. Users can purchase the token by swapping ETH, BNB or USDT or using bank cards.

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