The failure of the Dogecoin price, catching the ATH of $0.73, has disappointed the holders for 3 years. And there's still no hope in sight.
Dogecoin has been a part of the crypto industry for almost a decade, ruling the meme coins. More than that, it was the beginning of the meme category, which is now worth more than $43 Billion in the market cap and $ 5 billion in transactions. It is a mere meme-based token as the Dogecoin price is even less than $1, but its demand in the market is the highest.
Despite its demand and support from tech leaders like Elon Musk, who has supported DOGE, it has failed to surge even halfway near the ATH record. It has been more than three years ago for DOGEâs ATH, indicating an underlying issue in its progress.
Analyzing the Dogecoin Price
The last few days have been a little bullish for the crypto market, pushing the DOGE price to $0.1121. Moreover, its market capitalization has seen a boost, surging to $16.3 Billion with $945 million in trading volume, indicating a surging demand for the token.
Coming next is the rising competition, especially with the newly launched token, where DOGE is lost in the crowd. The last time DOGE price had a boom, the market was quite bullish. Even at the time of ATH, the market was in a bull run, which covered all the previous losses. But now the bull run is on hold till next year, and the ongoing bearish and neutral trend is limiting the value.
Last but not least, Dogecoin has failed to implement any technical upgrades recently. For such an emerging industry, continuous upgradation is needed, which is lacking in the case of this crypto.
Will Dogecoin Price Surge To ATH In the Future?
With the US presidential election on the horizon, Donald Trump has openly supported the crypto. However, recent news of Kamala Harris backing crypto has taken the market by storm because of her 180 turn from her earlier disapprovals. With a new approach for the industry, better regulations are in sight, which might boost the Dogecoin price.
Nevertheless, DOGE has been the investorâs favorite, with a proven profitable past, so the same is expected for future. With many analysts hinting at the bull run, the DOGE price might hit a new ATH. One such analyst, masked Trader, has recently posted of Dogecoin breaking all the barriers. As per him, DOGE is aiming for $1 before surging to $15-$20 price per token.
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