The OG meme cryptocurrency Dogecoin (DOGE) has been on an upward trend throughout the month. This asset has surged over 130% during this period. However, this cryptocurrency has yet to reach $1 or even its all-time high. Currently, DOGE is 45% lower than its peak of $0.737. This asset still has a long way to go before reaching $1 or even $2. With the recent price increase, the community is betting on Dogecoin to achieve the aforementioned highs by December.
Is Dogecoin stuck at 40 cents?
The Dogecoin market has fluctuated around the $0.40 mark for some time. The OG meme cryptocurrency surged to a high of $0.4775 earlier this month. At the time of reporting, DOGE is trading at $0.4013 after a decrease of 0.42% in the last 24 hours.
Despite the recent decline, the community and some analysts remain confident that this asset will reach the $1 mark. Although this meme coin started as a joke mocking Bitcoin, it has grown into a prominent asset after achieving a market valuation of nearly $60 billion. Therefore, DOGE could even surge to a peak of $2. It is worth noting that Dogecoin is currently 398.52% below the coveted $2 mark.
Will $2 become a reality?
According to data from CoinCodex, Dogecoin is expected to see a decline in the coming month. This meme coin is expected to trade in a range between $0.3382529 and $0.3382707 by the end of the year. Assuming the average price for December is $0.382618, this means that the price of DOGE has decreased by 5.16% compared to the current price. Additionally, if DOGE records this price change, investors could potentially earn a profit of 5.14%. Although this is an upward trend, DOGE will trade far below $2.
