- DonAlt predicts Dogecoin might reach $1 if the crypto market stays bullish; currently values Dogecoin at $20.3 billion.
- Dogecoin outperforms major altcoins with a 15% rise in 24 hours, trading at $0.13 on Binance exchange.
DonAlt, who boasts over half a million followers on X, has cast a promising outlook on Dogecoin (DOGE), suggesting that the coin could surge to the $1 mark. His prediction hinges on the continued bullish momentum of the broader cryptocurrency market.
This is the chart for my thesis
I bought 0.12ish and think it can run to $1 as long as the crypto market doesn't vanish againThat said IDK you do you, not gonna hand hold anyone if it turns around, it's a meme inherently use- and valueless, only retards trade this thing pic.twitter.com/YYMvcglhhz
— DonAlt (@CryptoDonAlt) October 18, 2024
Currently, Dogecoin, the original meme coin launched in 2013, holds its ground among the top ten cryptocurrencies with a market valuation of approximately $20.3 billion. This valuation positions it above major traditional companies like Nippon Steel and Suzuki Motors in terms of market cap.
In the last 24 hours, Dogecoin has seen a significant rise, increasing by nearly 15%, and notably outpacing its counterparts in the top ten altcoins by market cap. It trades at $0.13 on the Binance exchange after experiencing a robust 25% increase over the past week.
Despite this impressive uptick, Dogecoin remains 81% below its all-time high of $0.73, recorded in May 2021, when it ascended to become the fourth largest cryptocurrency by market cap. However, data from cryptocurrency analytics ETHNews, shows that currently, only 12% of Dogecoin holders are experiencing losses on their investment.
DonAlt is optimistic about Dogecoin’s potential resurgence
He believes the well-known status of Dogecoin provides it a unique advantage over lesser-known crypto projects. According to him, for the current cycle to shift into higher gear and attract mainstream attention:
“You gotta pump something high-profile they’ve heard of before. Memes have been meta, and DOGE is the crypto meme people know,” he expressed in a tweet.
This sentiment underscores the strong brand recognition Dogecoin enjoys, which could be pivotal in its path towards the $1 milestone. As the market eyes this potential, investors and enthusiasts alike are watching closely, pondering whether the beloved meme coin can indeed make a historic leap in value in the current bullish climate.
The current price of Dogecoin (DOGE-USD) is approximately $0.1349, reflecting a 9.54% increase over the past 24 hours. It has seen a daily range between $0.1297 and $0.1405, with a 24-hour trading volume of about $2.05 billion and a market cap of $20.31 billion.
