Dogecoin is currently a hot topic in the cryptocurrency space. Musk named his new department the Department of Government Efficiency (DOGE), a development that has undoubtedly bolstered Dogecoin’s momentum, helping it soar to new highs. Meanwhile, Bitcoin’s surge to $90,000 further bolstered Dogecoin’s momentum, pushing the coin to replicate its historic price gains and surges.
Can Dogecoin replicate its glorious past price rallies?
Dogecoin has experienced some amazing price increases in the past. According to the latest predictions from cryptocurrency expert Ali, in 2017, the coin surged to 9,720% before falling back to a stable price point. In 2021, the coin repeated the same price pattern again, surging to 30,700%. Ali was quick to clarify how these price increases were a mix of the multiple retests and declines that Dogecoin had to go through to reach such amazing highs.
“In 2017,#Dogecoinsurged 9,470% and experienced two major pullbacks during this period - one at 40% and another at 84%. In 2021, $DOGE surged 30,700% and again saw two key pullbacks at 46% and 53%.”
The expert then shared how Dogecoin’s current momentum is no exception. Following the Trump regime’s victory in the US election, Dogecoin’s price surged. At press time, the coin is priced at $0.39, having gained 8% in the past 24 hours.
Ali then highlighted the retesting part, adding that investors should remain calm about the occasional retests the coin may experience. These dips are part of the bigger picture that Dogecoin is currently concerned about.
“Now that DOGE appears to be entering another parabolic run, remember that corrections are part of the journey. The current 13% drop is no reason to panic; patience and faith are key for anyone who wants to become a true DogecoinMillionaire.”
Token Price Prediction for November 2024
According to CoinCodex, Doge’s price could drop by 7%, pushing the token to a new low of $0.35.
"According to our current Dogecoin price prediction, the price of Dogecoin is expected to fall by -7.60% and reach $0.351329 by December 13, 2024. According to our technical indicators, the current market sentiment is bullish, while the Fear & Greed Index shows 84 (Extreme Greed). In the past 30 days, Dogecoin has been trending up 20/30 (67%) days, with a price volatility of 32.95%. According to the Dogecoin prediction, now is a good time to buy Dogecoin."
