Dogecoin (DOGE), the classic meme cryptocurrency, has experienced a slight pullback before rising again. Over the past 30 days, its price has skyrocketed by 160%. With Bitcoin (BTC) successfully breaking the $100,000 mark and significantly rising, the entire market has strengthened, and Dogecoin is no exception. Although it is currently on an upward trend, the community generally expects Dogecoin's price to reach 50 cents in the coming days.
Dogecoin rises 10%
The Dogecoin market is showing an upward trend today. The initial opening price for this OG meme coin was $0.40, and it has since risen to $0.46.
The asset seems to have the potential to break the previous high of $0.47. As of now, Dogecoin's trading price is $0.4476, having risen 8.55% in the past 24 hours. This trend appears to have room for further development.
Elon Musk and Vivek Ramaswamy are expected to address U.S. lawmakers in Washington, D.C. Both are enthusiastic supporters of the cryptocurrency space. The upcoming event will focus on the impact on taxpayers and government efficiency, thus attracting a large audience.
Tesla CEO Musk is well-known for his support of the Dogecoin market, and his recent involvement in the political realm is also increasing. Musk is focused on seeking more effective governance and technological solutions.
Will it reach 50 cents by December 10?
According to data provided by CoinCodex, Dogecoin is expected to trade between $0.408199 and $0.441588 by the end of the year. Therefore, Dogecoin may experience a downward trend in the coming days.
It is expected that by December 10, the price of the OG meme coin will reach $0.4374, further suggesting that its price may decline from current levels. Although this seems like a downward adjustment, the asset may have an opportunity for an upward move after Musk's upcoming speech.
