Meme cryptocurrency Dogecoin (CRYPTO: DOGE) has soared in value since the 2024 presidential election and the establishment of the Department of Government Efficiency, or D.O.G.E. for short.

Benzinga readers choose the price they believe Dogecoin is most likely to reach by the end of 2024.

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What Happened: The past week has been an exciting and eventful one for Dogecoin with the cryptocurrency up over 100% and seeing increased interest from investors and crypto enthusiasts.

While 2024 may not be as big of a year in Dogecoin's history as 2021, the end of the year is adding excitement to the cryptocurrency industry.

With Dogecoin recently reaching new one-year highs, Benzinga polled readers to determine which price they believe is most likely for the meme crypto by year-end.

"What do you think will be Dogecoin's highest price by the end of 2024?" Benzinga asked.

The results were:

• 42 cents: 10%

• 69 cents: 24%

• New All-Time Highs (73.77 cents): 18%

• $1.00: 17%

• None of the above: 31%

The highest percentage of readers thought that none of the price targets would be reached by Dogecoin. The next highest result was 69 cents, which would take Dogecoin close to all-time highs and a memeable number before year-end.

Only 18% of readers think that Dogecoin will reach all-time highs before the end of the year, and a lower percentage (17%) believe Dogecoin will hit a price of $1.00.

Since the poll was conducted, Dogecoin smashed through the 42 cent level, hitting a new one-month and one-year high of $0.4359. That means that right now the people who picked 42 cents are correct and the people who picked none of the above have lost.

Trending: Dogecoin millionaires are increasing – investors with $1M+ in DOGE revealed!

What's Next: There continues to be increased optimism for Dogecoin, thanks to the belief that Donald Trump’s victory in the 2024 presidential election could usher in a new era for a more crypto-friendly American government.

Elon Musk, who has often been supportive of Dogecoin, may have helped boost the price once again by mentioning the Department of Government Efficiency ahead of and after the 2024 election was completed.