Dogecoin Price Breaks New 3-Year High – Here Are Factors That Could Drive The Price To $1

The price of Dogecoin (DOGE) recently broke a 3-year high after rising to $0.22. This move continues the remarkable run made by the foremost meme coin and has strengthened the belief that DOGE could increase to $1 before the end of this bull run.  Related Reading: Bullish Winds Blow: Bitcoin Bull Flag Points To New $77,000 ATH: Analyst Interest In Dogecoin Set To Skyrocket With Coinbase Listing  Bitcoinist reported that the foremost US crypto exchange, Coinbase, had finalized plans to introduce the meme coin to its futures contract offerings. Coinbase’s institutional arm also recently confirmed that Coinbase Derivatives will launch the first leveraged and CFTC-regulated futures contracts for Dogecoin in April.  This means that institutional investors will have the opportunity to trade DOGE futures starting in April. This could be huge for the meme coin, considering the amount of capital this class of investors could inject into its ecosystem. As noted by Coinbase, DOGE has become more than just a meme coin and is sure to attract interest from these investors. Meanwhile, the derivatives market is known to have a massive impact on a crypto token’s price. Therefore, depending on the sentiment among these investors, DOGE’s price could experience a lot of upside volatility on its way to $1.  Bitcoin is now trading at $ 69.964. Chart: TradingView Dogecoin’s New Wallet Set To Enhance Its Utility Dogecoin Foundation recently revealed in an X (formerly Twitter) post that the Dogecoin GigaWallet v1.0 has been released. The foundation further explained that the GigaWallet “provides a convenient integration API for platforms such as online shops, exchanges, social media platforms etc, to programmatically transact Dogecoin.” The GigaWallet launch is undoubtedly significant as it could play a primary role in expanding DOGE’s adoption. An increase in the number of users could reflect …..