Dogecoin's market value mirrors its pre-boom days of 2021, stirring expectations of an imminent surge

Dogecoin (DOGE), the cryptocurrency that originally started as a joke, has been trading at prices akin to those before its significant rise in the spring of 2021.

Popular crypto analyst Kaleo predicted a potential rally for the meme-inspired coin. 

According to Kaleo, DOGE, currently priced nearly identical to its pre-surge level in 2021, could see a rapid increase in value, 

The leading meme coin potentially reached the 9 to 10 cents range shortly and then surged to approximately 15 cents.

Anticipated market movements

Kaleo's playbook suggests a fast-paced climb for DOGE, with intermittent plateaus. 

The prediction, which is based on historical price action, hints at a swift movement to a high of around 20 cents. It is tied to Bitcoin's performance. 

The analyst, while hopeful, tempers expectations with a realistic outlook, doubting a rally to the dollar mark. 

In early 2021, Dogecoin experienced a meteoric rise that captured the attention of both seasoned cryptocurrency traders and the general public alike. The massive rally was mostly propped up by a string of celebrity endorsements. 

However, as of now, Dogecoin is now a whopping 89.51% from its all-time high. 

Dogecoin's 24-hour performance  

Over the past 24 hours, Dogecoin has shown moderate volatility, according to data provided by CoinGecko. 

With a substantial increase of 4.1%, the cryptocurrency's price fluctuated between $0.074 and $0.077. 

Dogecoin maintains a substantial market capitalization of over $10 billion, with a 24-hour trading volume nearing $834 million.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].