Dogecoin surges 160%, can DOGE break 50 cents in the coming days?
Dogecoin ($DOGE), the OG meme cryptocurrency, has restarted after a slight pullback. In the past 30 days, its price skyrocketed by 160%. With Bitcoin (BTC) successfully breaking the $100,000 mark and rising significantly, the entire market is on an upward trend, and Dogecoin is included. Although it is currently in an upward channel, the community expects it to rise to 50 cents in the next few days.
The Dogecoin market shows an upward trend today. This OG meme coin initially opened at $0.40 and has continued to rise to $0.46. The asset seems to be trending towards breaking the previous high of $0.47. As of now, the trading price of Dogecoin is $0.4476, up 8.55% in the last 24 hours.
This trend seems likely to continue. Elon Musk and Vivek Ramaswamy are expected to speak to U.S. lawmakers in Washington, D.C. Both are enthusiastic supporters of the cryptocurrency space. The upcoming event focuses on areas that impact taxpayers and government efficiency, hence attracting a large number of participants.
Tesla's CEO Musk is well-known for his fondness for the Dogecoin market. He has recently been more involved in politics. Musk's focus is on seeking more effective governance and technological solutions.
The price of the OG meme coin is expected to reach $0.4374 on December 10, which further indicates a slight decline in its price compared to the current level. Although this seems to be a downward setback, after Musk's upcoming speech, the asset may encounter an opportunity for an upward rise.
