Over the past few weeks, Dogecoin has continued to lose a significant portion of its trading price, when it was trading at $0.25662 with a weekly loss of 2.96%. According to the data from TradingView, the press time prices of Doge are below its 20-day EMA, which was $0.28112.
The available statistic notes that from November 04, 2024, Dogecoin changed its gears entering the upper territory. Despite being bullish from November 2024 till starting January 2025, DOGE has lost 28% of its price in the past 30 days and more than 34% in the past 90 days.
Will DOGE beat the mark of $1?
In longer frames, there are many more chances of Dogecoin crossing the much-awaited resistance of $1. Per now trading prices the nearest visible resistance of DOGE is $0.40530 with 2nd resistance at $0.43574.
There is very little chance of continued bearishness in Doge prices because being a pioneer of the memecoin market it is held and endorsed by many known personalities, it is also linked with global billionaire Elon Musk who is serving as the head of the DOGE Department of the United States.
Following the victory of Donald Trump and Musk’s favor for him has helped the price of Dogecoin to surge at a greater pace. In the past 6 months, its price grew 127% and more than 200% in a 52-week time frame.
Market experts claim that being the oldest memecoin Dogecoin has the potential to surpass the mark of $1 in the near future. In the annual trading frame, DOGE highest traded at $0.4835 and its lowest trading price was $0.08083.
The market capitalization of Doge has mimicked the decline in trading prices and as of writing it was $36.85 billion with a weekly 3.14% and 30-day loss of 27.58%. In 52 weeks frame cap grew by 210% and in the past 6 months, it grew by 131%.
Finance experts argue the moment Dogecoin might get accepted from the tariff cut and implementation by the United States and, with the announcement of open interest. In the past week when its price was at a good height at the same time a bunch of investors sold their holdings for booking profit.
In the past few days, Elon has opened up a few controversial matters such as the holdings of the U.S. gold treasury and the amount of money sent to Ukraine from the United States.
Memecoins have a brighter future!
Memecoin is 2nd most traded after stablecoin, because of its lesser value, which helps an investor to invest in such cryptocurrencies which could help them make more in a short duration.
There are claims that the memecoin category will evolve as one of the most preferred trading alternatives, but before that, the market needed more improved security of users and investors, as in the past few months it has been observed that the total number of launched memecoin projects has surged, with around 92% of them now unavailable in the market.
