Meme cryptocurrency Dogecoin (CRYPTO: DOGE) has soared in value since the 2024 presidential election and the establishment of the Department of Government Efficiency, or D.O.G.E. for short.
Benzinga readers choose the price they believe Dogecoin is most likely to reach by the end of 2024.
What Happened: The past week has been an exciting and eventful one for Dogecoin with the cryptocurrency up over 100% and seeing increased interest from investors and crypto enthusiasts.
While 2024 may not be as big of a year in Dogecoin's history as 2021, the end of the year is adding excitement to the cryptocurrency industry.
With Dogecoin recently reaching new one-year highs, Benzinga polled readers to determine which price they believe is most likely for the meme crypto by year-end.
"What do you think will be Dogecoin's highest price by the end of 2024?" Benzinga asked.
The results were:
- 42 cents: 10%
- 69 cents: 24%
- New All-Time Highs (73.77 cents): 18%
- $1.00: 17%
- None of the above: 31%
The highest percentage of readers thought that none of the price targets would be reached by Dogecoin. The next highest result was 69 cents, which would take Dogecoin close to all-time highs and a memeable number before year-end.
Only 18% of readers think that Dogecoin will reach all-time highs before the end of the year, and a lower percentage (17%) believe Dogecoin will hit a price of $1.00.
Since the poll was conducted, Dogecoin smashed through the 42 cent level, hitting a new one-month and one-year high of $0.4359. That means that right now the people who picked 42 cents are correct and the people who picked none of the above have lost.
Read Also: Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto
What's Next: There continues to be increased optimism for Dogecoin, thanks to the belief that Donald Trump's victory in the 2024 presidential election could usher in a new era for a more crypto-friendly American government.
Elon Musk, who has often been supportive of Dogecoin, may have helped boost the price once again by mentioning the Department of Government Efficiency ahead of and after the 2024 election was completed.
On Tuesday night, Trump officially named Musk and Vivek Ramaswamy as the people to lead the D.O.G.E., which could continue to put Dogecoin in the spotlight.
DOGE Price Action: Dogecoin trades at $0.3967 on Wednesday, versus a 52-week range of $0.07028 to $0.4359.
- Here's How Much $100 In Dogecoin Today Could Be Worth If DOGE Hits New All-Time Highs
The study was conducted by Benzinga from Nov. 11 through Nov. 12, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 82 adults.
Image created using artificial intelligence via Midjourney.
