Amid what has been a treacherous end of the week for the cryptocurrency market, Dogecoin (DOGE) is expected to rebound from its ongoing 22% December fall. The leading meme coin has not been able to greatly benefit from the crypto bull market that set off in November. Yet, it has struggled alongside a plummeting market Thursday.
A host of assets have seen a drastic dip in their overall value. Indeed, more than $1.1 billion was liquidated from the cryptocurrency market in the last 24 hours. Tokens like Ripple (XRP), Solana (SOL), and Chainlink (LINK) have seen stark corrections take place. Now, all eyes are on how they can bounce back. For Dogecoin, that is fully expected to take place rather soon.
Also Read: Can Dogecoin (DOGE) Reach $0.90 After Bitcoin’s New Peak?
Dogecoin Falls Alongside Crypto Market: When Are Experts Predicting the Comeback?
At the start of November, the cryptocurrency market embraced a monumental bull rally. The outcome of the 2024 presidential election played its role, with favorable regulation expected from the incoming administration. In early December, Bitcoin would reach six figures for the first time.
Yet, that increase came to a head this week amid an ongoing bearish reversal. A host of assets have fallen, with values plummeting across the board. One of the hardest hits was Dogecoin, although DOGE is expected to rebound from its December fall, but when?
Over the last 30 days, Dogecoin has dropped more than 22.7%, according to CoinMarketCap. Things are even more worrisome when you consider it has fallen more than 18% in the last 24 hours and 23% in the last week to currently trade at the $0.318 level.
Also Read: How to be a Millionaire After Dogecoin (DOGE) Surpasses $3
However, DOGE is still up more than 252% this year and is expected to make a full recovery. Moreover, that is likely to happen much sooner than anyone expects. With Dogecoin long affected by Elon Musk’s affinity for the token, it could be set to surge in January. Specifically, due to the connection between the Tesla CEO and US President-elect, Donald Trump.
According to cryptocurrency price prediction platform CoinCodex, Dogecoin is expected to continue falling to a $0.28 high in January 2025. Yet, things are expected to change drastically after that. Just one month later, DOGE is forecasted to reach a $0.66 monthly high.
Then the platform projects that the token will reach a $1.21 high in March. That increase would represent a 284% jump from its current level and have it in a prime position to thrive throughout the coming year.
