Exploring the Possibility of Dogecoin Reaching its Previous ATH: An Examination of the Facts
Dogecoin’s (DOGE) hype-based price movements make predictions difficult, but the possibility of reclaiming its all-time high of $0.7 remains high. However, the cryptocurrency has an unlimited supply that increases at around 5 billion coins annually, giving it a 4% inflation rate with no way of reducing the supply. Despite this, DOGE still relies less on its tokenomics and more on how the community feels about it, as seen with its performance during the 2021 bull market and the support of high-profile figures like Elon Musk and Burger King. DOGE’s price performance has correlated with the performance of the general crypto market, and it tends to follow the price trends of Bitcoin. As of writing, DOGE is sitting at a price of $0.0843 and has seen 0.88% losses in the last week, making it one of the worst performers of the large caps over the last week.
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