How much can Dogecoin (DOGE) rise in December? Can it break new highs?
The Dogecoin market is full of surprises. A few years ago, it was rather lukewarm, but suddenly exploded in November. This meme coin surged in November, reaching as high as $0.4795, breaking the previous record of $0.475 on the 23rd. On Coinbase, Dogecoin even broke the $0.48 barrier. Since Dogecoin hit its all-time high of $0.73 in May 2021, it hasn't been this glamorous again.
So, what’s the price of Dogecoin now? At the time of writing, it’s $0.4333. Although it dropped nearly 6% in 24 hours and saw a big surge over the weekend, the start of this week hasn’t been smooth, dipping to $0.4303 in the morning. However, the big players in the market have been busy, frantically buying up. Data from IntoTheBlock shows that large transaction volumes for Dogecoin have increased by 41%, reaching $23.35 billion. These large transactions are those over $100,000. In the past 24 hours, over 9,400 transactions have been recorded on-chain, involving 60.9 billion Dogecoins, totaling about $23 billion.
Speaking of mid-December, the cryptocurrency market is expected to wrap up this year perfectly. With such a strong surge in November, many assets may reach new highs. But CoinCodex says that Dogecoin may drop in the next few days, predicting that by December 15, the price will be roughly the same as now, around $0.4328.
Although it looks like it will drop quite a bit, with Elon Musk backing it (he is now part of the US government), Dogecoin might just bounce back in a few days.
Let's wait and see!
As for the next direction, I will guide everyone to aim for lucrative opportunities in altcoins, especially those with high potential projects, where a 10x return is absolutely possible. If you want to make big money in a bull market, like and comment, and I will take you through the entire bull market!
