Dogecoin is taking the lead among other notable cryptocurrencies, with the token soaring high as BTC trades on a new ATH of $106K. BTC has mellowed a bit in its price process at press time, sitting at $104K. Dogecoin is also sitting at $0.40, up 1% in the last 24 hours. Here’s how high it may surge by December 20, 2024.
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Dogecoin Is Marking Its Own Price Trajectory: Here’s How
Dogecoin is currently leading the meme token race as it continues to trend higher in popularity, banking on the change in the US political regime. The new political regime set to take over the US is renowned for its pro-crypto stance, with Musk gearing up to head the Department of Government Efficiency, or DOGE. The department’s acronym, which is loosely inspired by the DOGE token, has been pivotal to the current Dogecoin price uprising, helping the token surge to new highs.
In addition to this, Dogecoin is also rising high on the radar, particularly in sync with the expectations of the US government building a potential Bitcoin reserve. The development has helped Bitcoin to touch the $106K mark, followed by pushing XRP and Dogecoin high in the process.
Doge is also gearing up to touch new price peaks, as predicted by several crypto analysts and enthusiasts. Per Ali Martinez, the whale activity concerning Doge has spiked tremendously, with crypto whales accumulating nearly 160 million DOGE tokens.
Furthermore, Ali predicted that Doge was already on a path towards claiming a new high, possibly trading at a high price mark of $3.
“Check out where we are in the #Dogecoin $DOGE bull cycle! Very early, right? For that reason, I’m thankful for the dip and will buy more between $0.40 and $0.30. The target remains $3, and if things go wild, $18!”
Also Read: Dogecoin: Can DOGE Hit $0.90 After Bitcoin’s New Peak?
AI Predicts New Price Point For The Token For December 20, 2024
As per CoinCodex, Dogecoin may surge to hit a stable price point of $0.40 by December 20, 2024.
The token may later note a drop to sit at a new price spot of $0.38 by the end of December or early January 2025. However, the tables may always turn, spreading optimism around if positive global developments continue to favor the ongoing BTC price wave.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -5.98% and reach $0.383502 by January 15, 2025. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 80 (extreme greed). Dogecoin recorded 17/30 (57%) green days with 5.79% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a bad time to buy Dogecoin.”
Also Read: Bitcoin Hits New Peak Of $106,000: Will BTC Hit $120,000 Next?
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