Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE), was at the top of its game over the past couple of months. At the beginning of the year, the asset was trading at a low of $0.77, but throughout the span of 12 months, DOGE surged by 254% and rose to a notable high of $0.4835. While the meme coin has currently taken a backseat, the community is expecting DOGE to start the new year on a bullish note.
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Dogecoin Dips On The Last Day Of 2024
Source: CoinGape
It looks like the bears were settling well in the Dogecoin market. The meme coin was seen recording a nearly 3% drop over the past 24 hours. During the time of writing, the meme coin was trading at $0.3188. This marks a notable drop from its recent high.
Source: CoinMarketCap
Despite its recent drop, the meme coin market recorded increased volumes. This rise was attributed to whale activity in the Dogecoin network.
Whales bought over 90 million #Dogecoin $DOGE in the past 48 hours! pic.twitter.com/lGsMtz0iPp
— Ali (@ali_charts) December 27, 2024
Recently, Ali Martinez, a prominent analyst, took to X and revealed that these large holders were active in the market. These whales have reportedly collected more than 90 million DOGE during this week.
Also Read: Dogecoin: 3 Reasons Why DOGE Could Hit $1 In 2025
Price Prediction
Source: CoinCodex
It looks like the meme coin will carry its current trend into the coming year as well. According to data from CoinCodex, the maximum price that Dogecoin will trade at is $0.319. The average trading price of the meme coin for January 2025 is around $0.288. The lowest price level for DOGE was set at $0.274. While this isn’t a major uptick from its current price level, the community will have to wait longer before the asset records an increase in price.
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This isn’t a great start to the coming year. However, the DOGE community has a lot to look forward to, and the chances of the asset reaching $1 are also expected in 2025.
