Yes. Very possible
With the hype from elon musk and others I don't doubt. I remember when elon musk was being interviewed he said cryptocurrency is the future currency of earth, and he was like which one is it gonna be? Then he said dogecoin... dogecoin was invented as a joke essentially to make fun of cryptocurrency and now it's ironic, the currency that was invented as a joke is now the real currency. With the memes and all, many expect doge to fall but actually moving to the moon $1 is no longer far from it.
Promotion by Elon Musk is not enough to shoot dogecoin to $1 level. In fact, his promotional techniques are already loosing power. Remember how just a single mention of dogecoin made dogecoin gain 30-40% in price. Yesterday Musk in his twitter made a poll, asking
Do you want Tesla to accept Doge? and nothing happened. Dogecoin price remained on a $0.5 level. Previously, such announcement would easily double dogecoin price.
People are finally starting to wake up and see the sneaky manipulation behind all this. This won't go on too long especially as the alt coin season will soon end and BTC will start reaching new heights. People are not sheep and so easy to manipulate as Mr. Elon thinks.