Initially created as a joke, Dogecoin garnered significant attention in early 2021 when its price skyrocketed from $0.01 to an all-time high of $0.73 within five months. This sudden increase in value was largely attributed to the vocal support of Elon Musk, CEO of Tesla, who publicly endorsed the meme cryptocurrency through tweets and interviews. However, after Musk’s appearance on SNL for The Dogefather show, the price of DOGE began to decline and has been on a downward trend for almost two years, with only occasional minor spikes.
As a result, investors are still determining when Dogecoin may surpass its previous all-time high. This article will explore potential scenarios for DOGE to reach or exceed $0.73 again.
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Can DOGE Exceed Its ATH of 0.73$?
According to the AI algorithm ‘Price Predictions,’ Dogecoin may surpass its previous all-time high of $0.73 and potentially go beyond it by the end of the decade. The machine-learning algorithm has forecasted that Dogecoin could climb above $0.73 sometime in December 2029, with a projected peak of $0.77 by the end of that year. It may even briefly approach the $0.80 mark.
The AI algorithm’s prediction suggests that Dogecoin may attain a new all-time high of $0.7722 in December 2029, with an average price of approximately $0.74, subject to receiving sufficient support. However, the forecast also indicates that DOGE is expected to remain below $1 until at least 2023, with a projected maximum of $0.85. Therefore, the prediction suggests that Dogecoin may not reach the $1 milestone for the entire decade.
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According to data by CoinMarketCap, Dogecoin is currently trading at $0.077, reflecting a 1.1% increase in 24 hours. However, the coin is still down 89.46% from its all-time high of $0.73, which it achieved in May 2021.