Elon Musk’s favourite cryptocurrency, Dogecoin (DOGE), has been one of the best-performing belongings this yr. The OG meme coin recorded a virtually 250% uptick all through the previous 12 months. Despite this, DOGE sadly stays 60% beneath its all-time excessive of $0.737. Just because the asset was witnessing an increase, the newest downfall induced a carnage out there. Can the meme coin nonetheless finish the yr on a bullish observe?
Looking Into Dogecoin’s Latest Bloodshed
Earlier this month, Dogecoin was buying and selling at a excessive of $0.4761. The OG meme coin was buying and selling at $0.2968 on the time of writing. Over the previous 24 hours, the asset dropped by 17.55%. As the asset misplaced all its current positive factors, the market cap of DOGE slipped to $43.38 billion.
The newest drop has pushed Dogecoin additional beneath its desired excessive of $1. Currently, the meme coin sits 236.91% beneath this milestone. The neighborhood has been craving for the asset to succeed in the $1 mark for some time now. Several believed that Elon Musk’s involvement with President-elect Donald Trump might speed up the worth of DOGE.
Year-End Price Prediction
According to information from CoinCodex, the meme coin is anticipated to file an uptick over the subsequent couple of days. The asset will commerce at a excessive of $0.321 within the coming few days. However, the final two days of the month can be bearish for cryptocurrency. The agency revealed that Dogecoin will commerce at a low of $0.2800 on December 31, 2024.
While Dogecoin will finish the yr on a bearish observe, the neighborhood ought to stay up for the approaching yr. As Trump takes workplace and Musk heads the D.O.G.E. wing, the asset might rise all the best way to a excessive of $1 in 2025.
