Can Dogecoin (DOGE) Hit All-Time High in March 2024?

Vignesh Karunanidhi
Can Dogecoin (DOGE) Hit All-Time High in March 2024?

The price of the original meme coin, Dogecoin, surged over 14% in the last 24 hours. The price of DOGE reached above $0.2, a rare event that happened in 2024, and has now fallen to $0.1815. The OG meme coin is up by 102% in the last seven days at press time, according to the latest data from CoinMarketCap.

Software developers Billy Markus and Jackson Palmer created Dogecoin on December 6, 2013. The cryptocurrency features the Shiba Inu “doge” meme as its mascot. Dogecoin, which its creators originally intended to be a lighthearted cryptocurrency, has developed over the past ten years to become one of the most popular digital currencies.

DOGE last breached the $0.10 level on its tenth birthday in December 2023. However, DOGE was putting on a muted performance recently, up until its recent surge.

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Can DOGE hit an all-time high in March 2024?

The recent surge comes as Bitcoin briefly topped $68,700 before falling to its current price of $66,916. Dogecoin’s 24-hour surge has also caused its market cap to hit $25 billion, making it the ninth-largest cryptocurrency.

DOGE surged from a 24-hour low of $0.1591 to its current price above the $0.18 range. With meme coins like Shiba Inu, PEPE, and BONK exhibiting notable gains, experts predict that meme coin mania could have begun.

Also read: Ethereum Breaches $3,500; Can ETH Hit $4,000 Next?

Perhaps the real question is whether Dogecoin can hit an all-time high in March. Dogecoin hit its all-time high of 0.7316 on May 8, 2021. According to the analysts at Changelly, DOGE is predicted to hit that price level by February 2028.

However, the OG meme coin also maintains a robust online community, with Elon Musk touting DOGE as his favorite cryptocurrency. If Musk decides to incorporate DOGE into X, this could drive up its price as the coin will have a newborn utility. The overall market conditions will also play a crucial role in determining whether DOGE can hit an all-time high in March 2024.