Dogecoin (DOGE) is making headlines yet again. The asset has surged by a staggering 443% over the past year making it one of the best performing cryptocurrencies. The OG meme coin saw a nearly 200% spike over the last month alone. Amidst this, investors were expecting the asset to close the year on a great note.
Also Read: De-Dollarization: Will the Chinese Yuan Topple the US Dollar?
Dogecoin Reclaims $0.40
The largest meme coin witnessed a slight back last week. The asset after surging to a high of $0.43 dropped down below $0.40. According to data from CoinMarketCap, the asset was surging by 5% over the past 24 hours. At press time, DOGE was trading at $0.4032.
As the community waits for the asset to reach the coveted $1, DOGE is still quite behind. The meme coin is 45% below its all-time high of $0.737. The asset hit this high about four years ago in 2021. The market hopes that DOGE will surge to this level before the end of the year.
Also Read: Sui Enters Partnership with Franklin Templeton Digital Assets
Year-End Price Prediction
There are several expectations regarding the price of the meme coin. It looks like the asset’s hot streak will be cut short. According to data from CoinCodex, DOGE will trade at a high of $ 0.373578 during the final month of 2024. The maximum price that Dogecoin will be priced at is $0.36959. In addition, the lowest that the meme coin will trade at is $0.36768.
Amidst this, several analysts were suggesting that Dogecoin could grow to a much higher level. Ali Martinez, in particular, had bigger expectations for the coming year. Given past historical runs, Martinez predicts that DOGE will close between $2.40 and $18 next year if it follows the top and lower trajectories of its historical price action.
The DOGE “tends to peak around the 1.618 and 2.272 Fibonacci retracement levels,” he adds, giving an upper target of $23.26 in this instance.
Also Read: Currency: Dollar Strength Nears 13-Month High as Fed’s Move Looms
