Matt Wallace is as close as you can get to a “Dogecoin expert.” On his YouTube channel Final Stand, Wallace covers everything under the moon when it comes to Dogecoin (CRYPTO: DOGE).
What Happened: Earlier in the year, Wallace was featured on Benzinga’s Power Hour, where he gave an ambitious Dogecoin price target of $1.
Benzinga followed up with Wallace this week to see if his views have changed.
“When you look at the metrics behind the scenes, you can see a lot of the energy coming in on this recent run is from other countries,” Wallace said.
“A lot of the past runs have been primarily and almost exclusively really for most of the big action in the United States,” he added. “This time you’re seeing Binance playing a bigger role, and that’s one of the top exchanges in the world. [It’s] not as popular in the U.S., which means that we are now seeing markets most likely in Asia and in Europe starting to really move to accumulate Doge more, which I think is going to lead to the next big leg up.”
With more of an international base this time around, Dogecoin has a higher chance of reaching that elusive $1 mark, Wallace said.
There are other catalysts as well, he noted, such as a Dogecoin going to the actual moon and a billboard in space.
“My price prediction for Doge is that we’re absolutely going to pass $1, I still think that’s inevitable,” Wallace said.
“It does take a few things to go right, but at the very least if it doesn’t happen quickly, when we see a physical Dogecoin being placed on the physical moon, to the space billboard, all of that is going to cause the price to move upward. If it doesn’t happen quickly, it will happen eventually.”
Dogecoin was trading around 30 cents at press time. The cryptocurrency’s all-time high is 74 cents, according to CoinDesk.
Many investors around the world hope Wallace is correct, and Dogecoin will someday reach $1.