Elon Musk's favorite cryptocurrency, Dogecoin (DOGE), has reached new heights in recent months. At the beginning of the year, this asset was trading at a low of $0.77, but over the past 12 months, DOGE has surged 254% and reached a notable high of $0.4835. Although the meme coin is currently lagging, the community expects DOGE to start the new year with a price spike.
Dogecoin Drops on the Last Day of 2024
It seems that the bear side is stabilizing in the Dogecoin market. This meme coin has been seen recording a decrease of nearly 3% in the past 24 hours. At the time of writing, this meme coin is trading at $0.3188. This is a significant drop from its recent high.
Although it has recently decreased, the meme coin market still records increasing volume. This increase is believed to be due to whale activity in the Dogecoin network.
Recently, Ali Martinez, a well-known analyst, went on X and revealed that these large holders are active in the market. These whales are said to have accumulated over 90 million DOGE this week.
Price Prediction
It seems that this meme coin will continue its current trend over the next year. According to data from CoinCodex, the maximum price that Dogecoin will trade at is $0.319. The average trading price of this meme coin in January 2025 is around $0.288. The lowest price of DOGE is set at $0.274. Although this is not a significant increase compared to the current price, the community will have to wait even longer before this asset records a price increase. This is not a good start for next year. However, the DOGE community has much to look forward to, and the possibility of this asset reaching $1 is also anticipated by 2025.
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