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- 🎉 Follow to Win! Gate_Activity account is now live!
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- 🚀 Gate.io #Launchpad# for Puffverse (PFVS) is Live!
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⏰ Event Period: May 8, 8:00 AM – May 18, 6:00 PM (UTC)
Dogecoin: Can DOGE Reach $0.90 After Bitcoin Hits New Highs?
Bitcoin (BTC) has reached a new all-time high of $106,352 at the beginning of today. The original cryptocurrency has surged nearly 15% from last month. The latest peak of BTC could lead to the rise of other assets. Dogecoin (DOGE) may follow the trajectory of BTC and reach a new peak. DOGE has witnessed a significant price increase following Donald Trump's victory in the US presidential election. This asset has gained 1.6% on the daily chart, 7.9% on the monthly chart, and 332% since December 2023. Despite the price surge, the memecoin has dropped 10.5% on the weekly chart and 7.6% on the 14-day chart.
Why does Dogecoin need to be adjusted? The decline in DOGE price may be due to the 2.7% inflation in the United States. Investors may feel concerned about investing in risky assets. The cryptocurrency market has been sluggish recently. The market experienced a price increase last month after Trump's victory due to his support for cryptocurrency. The current sluggishness may be due to market participants waiting for the Federal Reserve meeting. DOGE and other assets may see another price increase if the Fed adopts a dovish stance. Will Memecoin reach $0.90 when Bitcoin rises to $106,352? We may witness another price surge across the entire market in the coming days. According to CoinCodex, the price of DOGE will stabilize in the next few months. The platform predicts that DOGE will continue to trade at the current level until at least February 20, 2025. CoinCodex predicts that DOGE will accelerate at the end of February 2025. The platform forecasts that DOGE will reach $0.90 on March 15, 2025. Reaching $0.90 from the current price will lead to a price surge of approximately 125%.
Changelly presents a more pessimistic outlook for Dogecoin (DOGE). The platform predicts that DOGE will trade at a maximum price of $0.351 in March 2025. Touching $0.351 from the current price will translate into a decrease of about 13.33%.