This week, the cryptocurrency market experienced a dangerous tail end, and Dogecoin (DOGE) is expected to rebound from a 22% decline in December. This leading meme coin has not benefited greatly from the cryptocurrency bull market that started in November. However, the market crashed on Thursday, and Dogecoin also fell into difficulties.
The overall value of many assets has dropped significantly. In fact, over the past 24 hours, more than $1.1 billion has been liquidated in the cryptocurrency market. Tokens like Ripple (XRP), Solana (SOL), and Chainlink (LINK) have experienced significant corrections. Now, everyone is watching how they will rebound. For Dogecoin, this rebound is completely foreseeable to happen soon.
Dogecoin has fallen along with the cryptocurrency market: When do experts predict it will make a comeback?
At the beginning of November, the cryptocurrency market experienced a massive bull market. The results of the 2024 presidential election played a role, and the new government is expected to introduce favorable regulatory measures. By early December, Bitcoin will reach six figures for the first time.
However, in a continuing bearish reversal, this upward trend peaked this week. A large number of assets fell, with values plummeting across the board. Dogecoin is one of the currencies most severely affected, and while Dogecoin is expected to rebound from the decline in December, when will it bounce back?
According to CoinMarketCap data, Dogecoin has fallen over 22.7% in the past 30 days. Given that it has dropped more than 18% in the past 24 hours and 23% in the past week, with a current trading price of $0.318, the situation is even more concerning.
However, Dogecoin has still risen more than 252% this year and is expected to recover fully. Moreover, this could happen much sooner than anyone expects. Dogecoin has long been favored by Elon Musk, so it may surge in January this year. Specifically, this is due to the relationship between Tesla CEO and the elected U.S. President Donald Trump.
According to the cryptocurrency price prediction platform CoinCodex, Dogecoin is expected to continue dropping to a high of $0.28 in January 2025. However, a huge change is expected thereafter. Just one month later, Dogecoin is predicted to reach a monthly high of $0.66.
Then, the platform predicts that the token will reach a high of $1.21 in March. This increase would rise 284% from the current level and place it in a favorable position for thriving in the coming year.
