According to CoinGecko’s DOGE data, Dogecoin’s price has risen by more than 90% since October 2024. What this means is, if you had made an investment in the memecoin in October of last year, your money would have nearly doubled. While the crypto market has experienced substantial price jumps over the last year, Dogecoin’s (DOGE) price rally since October 2024 is far higher than that of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), etc.
Can Dogecoin’s Price Rally by Another 90% by 2026?
Dogecoin (DOGE) is one of the most successful memecoins in the market. It is the only meme cryptocurrency project within the top 10 projects by market cap. DOGE’s success could be due to its legendary meme heritage or to the fact that it was the first memecoin to enter the market.
Dogecoin (DOGE) has also had incredible adoption over the years. DOGE has found support from Elon Musk, who has been very vocal about his admiration for the memecoin. Musk has also enabled DOGE payments for many of his business ventures, such as Tesla and SpaceX merchandise. There is a lot of talk about Musk potentially including Dogecoin (DOGE) payments for X’s upcoming payment feature. If the memecoin is accepted on X, it could experience a surge in mass adoption. The development could lead to a massive price rally for Dogecoin (DOGE).
Also Read: Can Dogecoin (DOGE) Still Moon, or Is Its Best Run Behind It?
Dogecoin (DOGE) is further expected to rally over the coming years. DOGE usually follows Bitcoin’s (BTC) trajectory. If BTC maintains its upward momentum, DOGE will likely follow suit.
However, there is also a possibility that Dogecoin (DOGE) will not rally as it has over the last year. Being a memecoin, DOGE carries substantial risk. Prices could take a turn for the worse, and investor sentiment could suddenly dip. Macroeconomic conditions could also present challenges to the crypto market. DOGE may not rally by another 90% by 2026 if such developments come to fruition.