Can Dogecoin reach 50 cents? Can it hit a new high?
Dogecoin, this old meme cryptocurrency, has been with us for a long time. Its performance can be slow at times, but it has had quite a surge in the past year. Earlier this month, it even peaked at $0.4775. Now, everyone is hoping it can continue to rise, and many are investing, thinking it can hit a new high.
Can Dogecoin quickly touch 50 cents?
To be honest, Dogecoin has risen 219% this month! The current trading price is $0.4302, and it has risen nearly 2% from yesterday to today. However, the trading volume has dropped a bit, with a 24-hour trading volume of $10.65 billion.
Everyone estimates that Dogecoin is not far from 50 cents. Back in 2021, it even reached a historical high of $0.7376. Although it hasn't returned to that level yet, its recent surge has been strong, and maybe a new high is just around the corner.
If you invest $100 in Dogecoin now, you can buy 232.56 coins. If Dogecoin returns to its historical highest price, that $100 would turn into $171.51. Although the profit isn't huge, it's quite important for those heavily invested in Dogecoin.
Looking at the community sentiment on CoinMarketCap, most Dogecoin retail investors are quite optimistic about it. 87% of people believe it can rise in the next few days, while only 13% are uncertain.
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