Five years ago, Dogecoin experienced a remarkable uptrend, leading to its all-time high of $0.0187 in January 2018. However, the euphoria was short-lived, as the cryptocurrency subsequently endured a prolonged downward trend lasting over two years. Only at the beginning of 2021 did DOGE begin to show signs of a breakout.
At that time, an increase in search interest for Dogecoin, fueled partly by influencers advocating for it to reach $1, contributed to the cryptocurrency’s explosive price surge. During this cycle, Dogecoin soared by an incredible 23,200% from its cycle bottom to its peak. Unfortunately, DOGE eventually experienced another round of declines and traded at a mere $0.078, a far cry from its previous all-time high.