Dogecoin ($DOGE) Soars: The Return of Interest in a Legendary Memecoin

Dogecoin ($DOGE), one of the most prominent meme coins in the cryptocurrency world, has experienced a remarkable growth in the past week. With a 22.81% increase in just 7 days, DOGE has reaffirmed its position among investors. At the time of writing, DOGE is trading at $0.388, the highest since December 18th. Elon Musk - The Wave Maker for DOGE It cannot be denied that Elon Musk, a billionaire and the founder of Tesla, has always had a great influence on DOGE. During the impressive price increase in 2021, he frequently used Twitter to share about DOGE, thereby pushing up the value of this cryptocurrency. After Elon Musk bought Twitter, rumors about using DOGE as a means of payment on this social media platform have created a strong speculative wave. In fact, many people believe that Musk may integrate DOGE into new projects, such as improving online payment systems. The Role of DOGE Whales in the Price Surge The participation of whales - investors holding a large amount of DOGE - has been proven to be a significant factor in driving up the value of this memecoin. Ali Martinez, one of the famous cryptocurrency analysts, revealed that DOGE whales bought 1.08 billion DOGE in just two days, from January 2nd to 3rd, 2025. According to Martinez, the trading history of whales is often accompanied by large price fluctuations. Whenever whales increase their buying, the price of DOGE tends to skyrocket. This time is no exception: after a week of selling pressure, the price of DOGE has made a strong recovery and increased to $0.388, marking a 22% increase in a week. DOGE's Ambition to Reach the $1 Milestone Although DOGE is currently only at 0.388 dollars, many analysts still hold high expectations. To reach the $1 mark, DOGE's market capitalization will need to double from its current value, about 57 billion dollars. This is not impossible, especially with the support of a strong community and new initiatives from Elon Musk. However, investors should note that the cryptocurrency market always comes with great risks. In conclusion Dogecoin, with a dramatic history of ups and downs, once again proves that it is not just a simple memecoin. The participation of whales, loyal community supporters, and the influence of figures like Elon Musk have created new momentum for DOGE. Can DOGE surpass historical price levels and reach the $1 mark? Only time and the new market can answer that. But one thing is for sure, DOGE remains one of the most notable names in the current cryptocurrency portfolio.