The Dogecoin price saw a massive increase twice in a row in 2 different bull markets. In the 2017 bull market, it was the first meme coin to see initial hype. In the next bull market in 2021, Elon Musk helped the DOGE course to another 100x. But is such an increase also possible for the third time in a row in the upcoming bull market? Can Dogecoin 100x again? Can DOGE reach 7$?
How did Dogecoin perform over the years?
As the best-known memecoin, the dogecoin has established itself as one of the best-known cryptocurrencies in recent years. It is still an extremely speculative token that is affected by extremely strong price fluctuations.
Dogecoin is categorized as a meme coin and tends to experience significant price drops during bearish market phases. However, during bullish markets, its price surges with massive increases that surpass those of bitcoin and several other altcoins.
Is Dogecoin Bullish still?
Prior to the 2020/2021 bull market, many experts believed that a memecoin explosion was a one-time hype and would not happen again in a subsequent bull market. However, the emergence of the new memecoin Shiba Inu (SHIB) and the continued popularity of Dogecoin (DOGE) suggest the potential for another explosive growth in 2021.
Elon Musk’s tweets have had a significant impact on Dogecoin’s success. While he briefly accepted Bitcoin as payment at his company, he has since shifted his attention towards promoting Dogecoin, which has resulted in a significant increase in its value during the spring of 2021.
It is possible for the memecoin to experience a similar increase in the upcoming bull market. These coins are especially appealing to inexperienced investors. As a result of the new bull market, numerous new investors are expected to enter the market.
Can Dogecoin 100x again?
While it is within the realm of possibility, a significant surge in the value of Dogecoin (DOGE) during the 2025 bull market may not necessarily result in a 100x increase. However, given its current level of adoption and popularity, DOGE still holds potential as a speculative investment opportunity.
