Dogecoin (DOGE) has experienced a significant 45% increase in the last 24 hours, leading to speculation of a $1 price target.The rally is driven by support from Elon Musk in the Trump administration, creating optimism among investors.DOGE has reached $0.41, its highest level since May 2021, and has gained over 150% in the last week.Analysts suggest that DOGE could easily reach $1 and potentially achieve targets of $2 to $4 this cycle.