Back in 2021, Dogecoin had put on its largest single-day move at a time when DOGE euphoria was at its peak. This had pushed the price from around $0.17 to over $0.47 in the space of a single day. This remains the most momentous 24 hours for the meme coin, and a repeat would be explosive for its price.
A 170% Single-Day Move For Dogecoin?
Dogecoin is trading considerably lower than its all-time high of $0.7 back in 2021. However, it is still a long way from its starting point in early 2021 when it traded at around $0.0018. The current $0.096 value at the time of this writing is also around a 30% increase in the price in the span of two months, which puts it on a bullish trajectory.
Nevertheless, Dogecoin is yet to carry out the kind of move that would satisfy investors who have patiently waited for it to return to even 50% below its all-time high price, just like Bitcoin. In this case, a rapid rise just like the one seen in 2021, could be expected.
Now, if the kind of single-day movement that happened on April 16, 2021, were to repeat, DOGE would certainly become one of the top gainers in the market. A 170% move from here would put the meme coin’s price at roughly $0.25 at the peak.
The last time that the Dogecoin price was this high was back in November 2022 before the infamous crypto market crash triggered by the FTX collapse. However, this move is not out of the realm of possible for DOGE, especially with multiple significant events coming up.
DOGE price at $0.096 | Source: DOGEUSD On Tradingview.com
Events That Could Drive DOGE Rally
According to the developments of the last few months, the events that could drive
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Author: Scott Matherson
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