As a seasoned crypto investor with over a decade of experience in the wild and unpredictable world of digital currencies, I’ve seen my fair share of market swings, bubbles, and crashes. The recent performance of Dogecoin (DOGE) has certainly caught my attention, and I find myself intrigued by its meteoric rise over the past three months.
In the crypto world, the well-recognized figure known as “DonAlt” has shared his updated perspective on Dogecoin (DOGE)’s price movements. Since early November, DOGE’s price has surged by nearly 140%, reaching $0.40 – a level not attained since last November when it reached its peak value.
Regarding the remarkable surge in Dogecoin’s price, it has indeed been impressive and exceeded expectations, as if the coin were actually flying to the moon. In DonAlt’s view, the coin continues to look promising.
Moreover, as per the viewpoint of the seasoned trader, “the market or asset has a claim to another phase of upward price movement,” using the colloquial term among traders for these periods as “legs.
$DOGE
Actually kinda looks good
A dog kind of deserves at least 2 legs no?— DonAlt (@CryptoDonAlt) November 19, 2024
Should the trader’s prediction hold true and DOGE price experiences another growth phase, we might be in store for a new record high for the beloved meme cryptocurrency in the near future.
DOGE to $1?
At present, Dogecoin has reached a high of $0.74, a level last seen in May 2021. To achieve this level again, Dogecoin needs to climb by approximately 89%. Given the price trends we’ve seen in November, reaching such a height is not entirely unrealistic.
The main point is whether Dogecoin can attain the significant milestone of $1 per coin. Some believed this was unattainable because of the perceived unit bias – the large number of zeros in Dogecoin’s price, suggesting that for it to reach a full dollar per coin, Dogecoin would need to become quite costly.
Currently, Dogecoin (DOGE) has a market capitalization of approximately $57.16 billion. If its value were to double and reach $1 per unit, it would increase its total worth to around $146.86 billion. Is such growth feasible for this meme coin?
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2024-11-19 17:56