With Dogecoin’s remarkable increases of as much as 11% within the last 24 hours and an all-time high of $0.375-which saw light during the last week of December, among others-the broad crypto market rode its waves following that remarkable performance as such coins reached a total of around 18% growth since its starting date early in this year and returned to $0.27 near the end of the last.
Dogecoin’s recent rally finds convergence with surging investor sentiment amid AI-powered token hype, together with rumors suggesting that DOGE may feature within Elon Musk’s planned social media service, X. Leaked source code apparently of X’s rumored payment mechanism in the pipeline provided a strong speculative boost although official confirmation was non-existent in DOGE being involved.
This revival of Dogecoin, in a certain sense, presents déjà vu of the previous boom which happened in 2024 during the time this cryptocurrency received support from Musk; it was literally riding the market rally after a post-election course. DOGE touched its three-year high of $0.48 last December.
Other altcoins are also surging. Cardano (ADA) rallied 15% on Friday. Bitcoin and Ethereum are up a more modest 1% and 3%, respectively. Meme coin Fartcoin (FARTCOIN) is also on a roll, having reached a record $1.53 as it’s tied to AI-focused projects.
Dogecoin’s market capitalization has now grown to $56.5 billion, making it the leading meme coin and the seventh-largest cryptocurrency by market capitalization. Analysts are of the view that DOGE could go on a roll if it integrates into X’s payment system. The risks here remain speculative, though.
As momentum runs bullish, whales are showing up in increasingly high activity, making way for a very possible Dogecoin price boom in 2025. Remaining bullish about this token, its investors have just been waiting on the possibilities of integration with X and full-market adoption to bring it on.
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