Dogecoin reached an all-time high at the price of 0.083$ on February 8th when Elon Musk embraced the crypto known as “meme coin” and even tagged it as “joke coin”. Musk mentioned DOGE in a series of posts on Twitter, emphasizing that Dogecoin makes a worthy investment, which as a result pushed DOGE up to a new ATH. While the crypto took off in a matter of hours since the tweets, Dogecoin is now recording 3306% of gains for the year, which makes it one of the top gaining cryptos in the market in 2021 by far. However, is the current momentum bullish enough to take DOGE to the price target of 1$ by the end of the year?
Dogecoin (DOGE) Price Analysis for March 2021
- DOGE is trading at the price of 0.057$ after the recent price correction with =6% drop in value for the day
- DOGE is also showing declines on the monthly chart by -18%
- The crypto dropped by -33% since reaching an all-time high price, drifting further from the price target of 1$
- The weekly gains are still solid at 8.8%
- The yearly gains are set at the value of 3306%
- The lowest price for the week is 0.055$
- The highest weekly price is 0.061$
Can DOGE Reach 1$ by the End of 2021?
Dogecoin has been pretty much dormant as far as the bullishness, until the mention of DOGE by Elon Musk in the first days of February. After the mention on Twitter, DOGE skyrocketed, doubling its price in a single day, however, since that point, Dogecoin pretty much-continued trading on a downward path with occasional gains and rises, but still down by over -30% in a month. Despite major returns of over 3000%, it will take more than a series of tweets from Musk to send DOGE to the moon and reach 1$. While 2021 has only begun and we can expect more gains during the year, that can provide more time for DOGE to take on a radically bullish pace in an attempt to reach 1$.
Image credits: Cover photo taken from bitcoinafrica.io
