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Run Doge, run 🐶
The original meme coin hit a three-year high price this week—and analysts tell Decrypt that Dogecoin still has room to run.
Andrew Hayward
November 15, 2024
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📝 What you need to know
Dogecoin is having its best week in years, spiking to $0.43 on the back of Donald Trump’s election win and the official announcement of the Department of Government Efficiency (D.O.G.E.), which Trump said Tesla and SpaceX CEO Elon Musk will co-lead with Bitcoin-savvy entrepreneur Vivek Ramaswamy.
Meme coins are often propelled by vibes above all, and right now, Dogecoin’s vibes are very much on point. But will the buzz last, or is this just another example of the O.G. meme coin potentially falling as rapidly as it rises?
Analysts tell Decrypt that this dog-coin still has ample room to run, and could soar “far beyond” the current all-time high thanks to an evolving narrative around it.
“I'm very hesitant to put a cap on it, because now you actually have this ongoing attention cycle,” said GSR Research Analyst Thomas Bautista. “No longer is DOGE a prisoner of the moment that’s just going to go up 20% and then die next week.”
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