Dogecoin (DOGE) Up 50% This Week, Is Its All-Time High in Play?

The entire digital asset market has experienced a massive surge this week. A host of cryptocurrencies have followed, led by Bitcoin’s (BTC) climb to $61,000 for the first time since 2021. One of the most dominant performances has been Dogecoin (DOGE), which is up 50% this week, but does its rally mean that its all-time high is in play for 2024?

As we’ve stated, the entire market has been up since Monday. Ethereum (ETH) has broken through $3,400 with eyes on the $4,000 mark. Moreover, the meme coin market has seen similar increases for Shiba Inu (SHIB) and even BONK. Still trading at $0.12 according to CoinMarketCap, could it observe a rally to $0.73 before the year is done?

Also Read: Dogecoin Forecasted To Surge 250%

DOGE Leading Meme Coin Rally as Investors Hope for New ATH

Over the last several days, the digital asset market has seen increased value for a plethora of assets. The growth has largely been attributed to Bitcoin (BTC), which has firmly established itself at $61,000. However, meme coins have also surged, with Shiba Inu even outperforming the bit two in the last 24 hours.

One meme coin in particular has seen its value skyrocket throughout the last seven days. Subsequently, many are speculating that the current rally could set the stage for renewed heights for the token. So, with Dogecoin (DOGE) up more than 50% in the last week, could its all-time high be in play?

Also Read: Dogecoin Surges 31%: Can DOGE Reach $1 in 2024?

As with anything else, anything is certainly possible. There is no denying the current positive sentiment on the market. Moreover, there is little argument against the overarching notoriety and passion for Dogecion that exists in that market. Therefore, continued climbs are not out of the question. However, for the asset to reach its all-time high, it would have to continue climbing beyond the $0.73 level.

Price prediction platform Changelly has noted bullish technical indicators surrounding the asset. However, it does not predict the token to break through the $0.19 level at any point this year. Additionally, there is little development within the assets ecosystem that would signal an increase toward its all-time high.

There is no telling what will take place with the greater digital asset sector. Bitcoin has benefitted greatly from the presence of Spot ETFs on the market. Moreover, the upcoming Bitcoin halving event should continue to benefit the asset’s value. That could have a massive implication on Dogecoin’s price, but a rally beyond $0.73 appears to be a very difficult ask for the meme coin.