Dogecoin (DOGE), the original meme coin, seemed to turn things around after Elon Musk made a comment about himself being the ‘father of dogecoin.’ The price of Dogecoin surged after Musk’s comments but has since cooled off.

The asset is still up 4.3% on the weekly chart and 2% on the 14-day chart, but is down 3.3% on the daily chart and 3.4% on the month.

Despite DOGE’s enormous success over its 11-year history, the meme token has struggled to gain much momentum over the past few months. Musk’s support for DOGE has often sparked rallies, but these have been inconsistent and volatile.

Despite its lackluster performance, Dogecoin (DOGE) may still have the heat.

Forecasting and market analysis

DOGE expected to reach 90 cents

Reaching 90 cents would mean a new all-time high for DOGE. Currently, the price of the meme token has fallen by more than 86% from the peak of $0.7316 reached more than three years ago in May 2021. A rise of about 800% would mean reaching 90 cents from the current price.

Changelly's Prediction

According to Changelly researchers, Dogecoin (DOGE) will surpass the 90 cent mark in 2029 and could reach a peak price of $0.92 that month. The platform further expects the meme coin to surpass the $1 mark by early 2030.

Telegaon's prediction

Researchers at Telegaon are far more bullish on Dogecoin (DOGE) than Changelly. The platform expects DOGE to reach the 90 cent mark sometime in 2026 and predicts the asset to trade at a maximum of $1.26 in 2026. Reaching $1.26 from current price levels would represent an upside of about 1,160%.

The potential impact of Elon Musk's X platform

Elon Musk’s X social media platform is about to launch a payment feature, and there are many rumors that the platform will support DOGE payments. If successful, this could allow DOGE to reach the 90 cent mark sooner than expected.