Cryptocurrency

Dogecoin

April

Elon Musk

<div class="finbold">
 <p class="paragraph">As 2023 is drawing towards its end, some assets in the cryptocurrency market are still increasing their prices while others are slowing down their gains from previous weeks, including Dogecoin (DOGE), leaving investors to wonder whether it would manage to rally to the coveted level at $1 in 2024.</p>
 <div></div>
 <p class="paragraph">Indeed, Dogecoin started to improve its price in late November, steadily climbing from $0.073 to the psychologically important zone at $0.10 zone, at which it peaked several times in early December, only to slow down and consolidate at $0.093, where it is changing hands at press time on December 26.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/MOgoWfrzRp-47uo6H710QZxzgK7WOZRFwa23DXthajJa1MmJIEBNY_h04tfOENUHb-bI_tkmH9iOgY3i4sF_B22vL1tv7fZejbv5U7f4n8y2U54-TylWInJFyVddo6yxMcxBKqVfuIOH6biEGpsfU20" alt>
  <figcaption class="wp-element-caption"><em>Dogecoin 30-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-can-doge-surpass-its-ath">Can DOGE surpass its ATH?</h2>
 <p class="paragraph">That said, DOGE <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ed its all-time high (ATH) at $0.73 back on May 8, 2021, which means that the famous dog-themed meme cryptocurrency could get rather close to the $1 price mark again. However, <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ing $0.73 again would require an increase of 685%, or 975%, for the $1 level, albeit this is not impossible.</p>
 <p class="paragraph">As it happens, the rally towards its ATH saw Dogecoin race from $0.5 in early March 2021 to $0.41 in late April, which means it had gained 720% to its value in only one month, further growing to $0.73 in early May 2021, which represents a whopping 1,360% gain in less than 10 weeks from the March price.</p>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/26/d13183acbc570efef6ced279585c38fb.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="the-underdogs-of-2023-small-cap-stocks-that-made-it-big">The underdogs of 2023: Small-cap stocks that made it big</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/26/28333c412888d3698d39697763662012.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="how-did-michael-burry-s-predictions-for-2023-fare-against-the-stock-market">How did Michael Burry’s predictions for 2023 fare against the stock market?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/26/a585770127c13f54992dfc275b30d432.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="chatgpt-vs-google-bard-which-had-better-stock-predictions-in-2023">ChatGPT vs. Google Bard: Which had better stock predictions in 2023</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/26/24f6213a6a68cc1f3ce2f5534376f2d3.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Stocks 
       <h3 class="font-bold leading-6 " id="1-000-invested-in-amazon-stock-at-start-of-2023-returned">$1,000 invested in Amazon stock at start of 2023 returned</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/26/d3d1b94b27770fc1eb8699620c6bb7a6.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="the-best-meme-coins-to-buy-for-2024">The best meme coins to buy for 2024</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">That said, at the time, this crypto asset raced thanks to factors like the billionaire Tesla (NASDAQ: TSLA) CEO Elon Musk, who often took to Twitter (now X) to post about one of his favorite crypto assets, as well as his appearance on <em>Saturday Night Live</em> where he referred to himself as ‘The Dogefather.’</p>
 <figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Guest starring … pic.twitter.com/buM3bTOWbX</p>— Elon Musk (@elonmusk) May 7, 2021
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">On top of that, the eToro exchange had just added DOGE to the cryptos traded on its platform on May 3, 2021, only a few days before the meme coin surged to its ATH, while the crypto community at the social network Reddit’s <em>r/SatoshiStreetBets</em> and <em>r/Dogecoin </em>subreddits had urged buying into and holding onto DOGE.</p>
 <figure class="wp-block-embed aligncenter is-type-rich is-provider-reddit wp-block-embed-reddit">
  <div class="wp-block-embed__wrapper">
   <blockquote class="reddit-embed-bq" style="height:500px">
    Doge to the moon!! <br> byu/Traditional-Ask-9810 indogecoin
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Specifically, the users referenced the earlier<em> r/WallStreetBets’</em> efforts to squeeze out Wall Street shops from heavily shorted stocks such as GameStop (NYSE: GME), BlackBerry (NYSE: BB), Bed Bath &amp; Beyond (NASDAQ: BBBY), Blockbuster (NYSE: BBI, from 1999 to 2010), and AMC Entertainment (NYSE: AMC).</p>
 <h2 class="wp-block-heading" id="dogecoin-price-analysis-and-prediction">Dogecoin price analysis and prediction</h2>
 <p class="paragraph">On the other hand, the artificial intelligence (AI) algorithms deployed by the crypto analytics platform <em>CoinCodex</em> are not seeing $1 in Dogecoin’s near future, at least not until April 2032, or eight years and three months from the time of publication. Moreover, the algorithms do not expect it to surpass $2.54.</p>
 <figure class="wp-block-image aligncenter is-resized"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/7-xfDuwnbHAPjJL_ARuj6xo92m4VWxNX4hUiVJ-S36M4B7DkkiT3Cl9I8v1lrVYBZfsf530OuXi1E2Fbh417o2EaceNW0Fs0iqE7Fh9zvgvlaMGPegUKe-dBwGXGAB20mcTzgh8rS4eYGpB8reTc4I8" alt width="827" height="248">
  <figcaption class="wp-element-caption"><em>Dogecoin price prediction until 2040. Source: </em><em>CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">Meanwhile, DOGE was at press time changing hands at the price of $0.093, down 0.61% on the day but still holding onto the very modest 0.02% increase across the week and an 18.67% advance on its monthly chart, according to the most recent information retrieved on December 26.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/LkmQWnvEWQnGtb9EshtmJIGsBGrrbGoLjLU7XVVh9eAAlaBP7l2O--YbycVcDuhtH8PgkBLolWFcgXcN6CLVqnEylto50S2knCP5zPzfKJknBwL_Um43X_4Rw4k17VOLnlpJHRh6qdQIp_ywCpP40nE" alt>
  <figcaption class="wp-element-caption"><em>DOGE 7-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">In conclusion, Dogecoin might not <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> the new ATH any time soon, but external (and internal) factors like Elon Musk’s tweets and other positive developments could impact its price increases and possibly even lead it to hit the $1 price mark sometime in the future.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/will-doge-reach-1-in-2024-tbt74785.html">https://thebittimes.com/will-doge-reach-1-in-2024-tbt74785.html</a></p>

Will DOGE reach $1 in 2024?

Table of Contents

TheBitTimes

Other articles published on Dec 26, 2023

Binance Introduces its 42nd Launchpool Project: What is Sleepless AI? AI Token Details!

Analysts Expect Institutional Crypto Investment to Rise in 2024

Why experts have lost all hope for Eurozone’s economy

This Ethereum whale with $200 million worth of ETH reveals his next 100x tokens

Deciphering Litecoin’s Stagnation: A Comprehensive Analysis

This Trader Made $5.7 Million After Investing 30 Solana Tokens (SOL)

Join our free newsletter for daily crypto updates!