The Dogecoin (DOGE) market is full of surprises. After a rather slow couple of years, DOGE was back in action in November. The OG meme cryptocurrency recorded a notable surge during the month. According to recent data, DOGE reached $0.4795, surpassing the $0.475 milestone on November 23. But on Coinbase, DOGE managed to move past the $0.48 mark. Dogecoin has not increased this high since May 2021, when DOGE reached its all-time high price of $0.73.
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Dogecoin’s Current Price Trend
At press time, the OG meme cryptocurrency was trading at $0.4333. This comes after a nearly 6% drop over the past 24 hours. While Dogecoin witnessed a notable rise during the weekend, it started off the week on a rather sad note. DOGE plummeted to a low of $0.4303 earlier today.
This did not stop the whales in the market from going on a purchase spree. IntoTheBlock statistics show that Dogecoin whale transactions have increased by 41% to $23.35 billion. Whale transactions are those valued at $100,000 or more, according to the firm. More than 9,400 transactions were recorded on the chain in the last 24 hours. This amount equals 60.9 billion DOGE worth about $23 billion in dollars.
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Mid-December Prediction
The cryptocurrency market is expected to end the year on a great note. Banking on the momentum in November, several assets could be looking at new peaks. According to data from CoinCodex, DOGE will sadly encounter a drop over the next couple of days. On December 15, the asset is expected to trade around its existing price level.
CoinCodex believes that Dogecoin will be priced at $0.4328. While this may seem like a decline, the asset could eventually pick up in the coming days, considering the backing it gets from Elon Musk, who is now part of the U.S. government.
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