Can Dogecoin (DOGE) Reach $2 in December 2024?

The OG Dogecoin meme cryptocurrency (DOGE) has been trending upward throughout the month. This asset has surged over 130% during this period. However, this cryptocurrency has not yet reached $1 or even its all-time high. Currently, DOGE is trading below 45% of its peak at $0.737. This asset still has a long way to go before reaching $1 or even $2. With the recent price increase, the community is betting on Dogecoin to hit the aforementioned high in December. Does Dogecoin get stuck at 40 cents?

The Dogecoin market has been fluctuating around $0.40 for a while. The OG meme cryptocurrency reached its highest level of $0.4775 earlier this month. At the time of reporting, DOGE is trading at $0.4013 after a 0.42% decrease in the past 24 hours. Despite recent declines, the community and some analysts remain confident that this asset will reach the $1 milestone. Although this meme coin started as a joke mocking Bitcoin, it has evolved into a prominent asset with a market valuation of nearly $60 billion. Therefore, DOGE could even skyrocket to a high of $2. It should be noted that Dogecoin is currently trading at a 398.52% discount compared to the desired $2 level. Will $2 become a reality?

According to data from CoinCodex, Dogecoin will experience a decline in the coming month. It is expected that this meme coin will trade within the range of $0.3382529 and $0.3382707 by the end of the year. Assuming the average price for December is $0.382618, this means that the price of DOGE has decreased by 5.16% compared to the current price. Along with this, if DOGE records this price change, investors have the potential to earn a profit of 5.14%. Although this is an upward trend, DOGE will still be trading far from $2.