Will Dogecoin Repeat the 36,000% Spike of the Past?

Jakarta, Pintu News – Dogecoin (DOGE) has recently shown a significant increase by surpassing the $0.2 mark. Although it is still far from its record high of $0.7, the current trend shows similarities to the conditions before the big spike in December 2020. Crypto analyst, CryptoKaleo, highlighted that Dogecoin (DOGE) may be preparing for another major rally.

Dogecoin Price Trend Analysis

In December 2020, Dogecoin (DOGE) went through a difficult period before spiking up to 36,000%. The current situation appears similar, with the Dogecoin (DOGE) price returning to the level before the spike. CryptoKaleo in a post on X (formerly Twitter) described that this trend may be the start of another parabolic rise.

If this trend continues, the analyst predicts that reaching $1 is a realistic target, with the potential to reach up to $2.4. According to trend analysis, Dogecoin (DOGE) appears to have bottomed out after an initial decline and is now starting to show signs of recovery. This marks the possible beginning of a new phase of price increases, similar to what happened in late 2020.

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Potential Dogecoin Rally

The previous surge of 36,000% gave investors and market watchers hope. However, several factors now suggest that such a large rally may not be repeated. First, an increase of 36,000% from the current price would mean that Dogecoin (DOGE) would have to reach around $72, which would increase the market capitalization of Dogecoin (DOGE) to over $2 trillion.

In addition, the ever-increasing and unlimited supply of Dogecoin (DOGE) is one of the factors that could inhibit extreme price increases. Nonetheless, reaching $1 is still considered a realistic target and may mark the peak of the Dogecoin (DOGE) price rally.

Comparison with Other Cryptos and External Factors

Market Door

Dogecoin (DOGE) is not the only crypto to experience significant price fluctuations. Bitcoin (BTC), Ethereum (ETH), and other cryptos also experience similar ups and downs. However, Dogecoin (DOGE) is unique in that it is backed by a strong community and often receives support from famous personalities such as Elon Musk.

External factors such as market regulation, adoption by major corporations, and general market sentiment also play a significant role in determining crypto prices. Therefore, investors should consider these factors before making an investment decision.

Conclusion

While it is possible that Dogecoin (DOGE) will not repeat the same price spike as before, the current trend shows the potential for a significant increase. Investors and crypto enthusiasts should remain aware of market trends and external factors that may affect the price.

Also Read: Big Drama: Coinbase and Binance Deny Each Other Over Media Leaks and Market Grab!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Bitcoinist. Dogecoin December 2020 Levels. Accessed on July 15, 2025