For those that have been patiently waiting for Dogecoin to become the next Bitcoin, the wait may soon be over.

Dogecoin, the cryptocurrency, hit $0.01 on Saturday, which is a huge milestone for those that have been investing their time and money in it for a while. Considering its average has been around $.003 for most of 2020, 2021 might not be off to a bad start after all for the investors. 

Some analysts believe that Dogecoin is on a bull run and could hit $1 by the end of 2021, according to Coinpedia. 

Now that more people are seeing the potential in the currency, more will be inclined to purchase, which in turn means a run to $1.

More people investing in this specific Cryptocurrency means the value of it will increase.

Elon Musk, CEO and creator of Tesla, is a huge advocate of all things Cryptocurrency, especially Dogecoin. He continuously tweets about his belief in the currency and that one day it’ll be worth something. 

When Dogecoin hit a penny on Saturday, thousands of investors and those interested in this type of currency took their excitement to Twitter, saying it’s on the right track to reach $1 in the future. 

Billy Markus from Portland, Oregon is the creator of the currency. It first started out as a joke in December of 2013. An Adobe marketing member, Jackson Palmer, purchased a domain for dogecoin and after that, in 2014, the currency was ready to be exchanged for US dollars, according to a discussion paper by Usman W. Chohan.

In addition, another Cryptocurrency, Bitcoin, also reached an all-time high on Saturday of $31,824. 

The world's most popular cryptocurrency has gained over 30 percent in value in almost three weeks The world's most popular cryptocurrency has gained over 30 percent in value in almost three weeks Photo: AFP / KAREN BLEIER