Dogecoin is currently the trending topic in the cryptocurrency universe. With Musk headlining his new department as the Department of Government Efficiency, or DOGE, the development has certainly bolstered Dogecoin’s momentum, helping it soar to new highs. At the same time, Bitcoin’s spike to $90K has further strengthened Doge’s chart, inching the token to replicate its historic price rallies and surges.
Also Read: Polymarket Founder’s Electronics Seized in FBI Home Raid
Can Dogecoin Replicate Its Stellar Past Price Rallies?
Dogecoin has experienced certain spectacular price rallies in the past. Per a new prediction made by cryptocurrency expert Ali, in 2017, the token surged as high as 9720% before it dipped back to a stable price spot. In 2021, the token once again repeated the same price pattern, surging as high as 30,700%. Ali was quick to clarify how these price surges were a mixed product of multiple retests and dips that Doge had to go through to scale such stellar highs.
“In 2017, #Dogecoin surged 9,470%, with two major corrections along the way—one at 40% and another at 84%. In 2021, $DOGE rocketed 30,700%, again seeing two key pullbacks of 46% and 53%.”
The expert later shared how Dogecoin’s current momentum is no exception to this rule. With the Trump regime winning the US elections, Dogecoin is noting significant price spikes in its price. At press time, the token is sitting at $0.39, up 8% in the last 24 hours.
Ali later emphasized the retest part, adding how investors should stay unfazed about occasional retests that the token may undergo. These dips are part of the bigger picture that Dogecoin is eyeing at the moment.
“Now, as #DOGE seems to be entering another parabolic run, remember that corrections are part of the journey. The current 13% dip is no reason to panic; patience and conviction are key for anyone aiming to become a true #DogecoinMillionaire.”
Also Read: Walmart Stock (WMT) Hits New All-Time High, Continuing Surge
The Token’s Price Forecast for November 2024
According to CoinCodex, Doge may possibly note a drop in its price by 7%, pushing the token to trade at a new low of $0.35.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -7.60% and reach $0.351329 by December 13, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 84 (extreme greed). Dogecoin recorded 20/30 (67%) green days with 32.95% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
Also Read: Cryptocurrency: Top 3 Coins To Buy In The Current Bull Market