Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE), has been one of the best-performing assets this year. The OG meme coin recorded a nearly 250% uptick throughout the past 12 months. Despite this, DOGE sadly remains 60% below its all-time high of $0.737. Just as the asset was witnessing a rise, the latest downfall caused a carnage in the market. Can the meme coin still end the year on a bullish note?
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Looking Into Dogecoin’s Latest Bloodshed
Earlier this month, Dogecoin was trading at a high of $0.4761. The OG meme coin was trading at $0.2968 at the time of writing. Over the past 24 hours, the asset dropped by 17.55%. As the asset lost all its recent gains, the market cap of DOGE slipped to $43.38 billion.
Source: CoinMarketCap
The latest drop has pushed Dogecoin further below its desired high of $1. Currently, the meme coin sits 236.91% below this milestone. The community has been yearning for the asset to reach the $1 mark for a while now. Several believed that Elon Musk’s involvement with President-elect Donald Trump could accelerate the price of DOGE.
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Year-End Price Prediction
According to data from CoinCodex, the meme coin is expected to record an uptick over the next couple of days. The asset will trade at a high of $0.321 in the coming few days. However, the last two days of the month will be bearish for cryptocurrency. The firm revealed that Dogecoin will trade at a low of $0.2800 on December 31, 2024.
Source: CoinCodex
While Dogecoin will end the year on a bearish note, the community should look forward to the coming year. As Trump takes office and Musk heads the D.O.G.E. wing, the asset could rise all the way to a high of $1 in 2025.
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