The price of the original meme coin, Dogecoin, surged over 31% in the last 24 hours. The price of DOGE reached above $0.1264, a rare event that happened in 2024. The OG meme coin is up by 31% at press time, according to the latest data from CoinMarketCap.
Software developers Billy Markus and Jackson Palmer created Dogecoin on December 6, 2013. The cryptocurrency features the Shiba Inu “doge” meme as its mascot. Dogecoin, which its creators originally intended to be a lighthearted cryptocurrency, has developed over the past ten years to become one of the most popular digital currencies.
The last time DOGE breached the $0.10 level was on its tenth birthday in December 2023. However, DOGE was putting on a muted performance recently, up until its recent surge.
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Can DOGE Reach $1 in 2024?
The recent surge comes as Bitcoin briefly topped $64,000 before falling to its current price of $61,740. Dogecoin’s 24-hour surge has also caused its market cap to hit $18 billion, making it the ninth-largest cryptocurrency.
DOGE surged from a 24-hour low of $0.09477 to its current price above the $0.12 range. With meme coins like Shiba Inu, PEPE, and BONK exhibiting notable gains, experts predict that the meme coin mania could have begun.
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Perhaps, the real question arises whether DOGE can hit $1 in 2024. According to the analysts at Changelly, DOGE is predicted to hit $1 by 2030.
However, the OG meme coin also maintains a robust online community, with Elon Musk touting DOGE as his favorite cryptocurrency. If Musk decides to incorporate DOGE into X, this could drive up its price as the coin will have a newborn utility. The overall market conditions will also play a crucial role in determining whether DOGE can hit $1 in 2024.
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