Dogecoin soared 23,000% in 2021 — Is history starting to repeat for DOGE price?
Dogecoin's 2021 and 2023 price rallies have largely been sparked by Elon Musk but the latter still has much more room to run if history repeats. The price of Dogecoin (DOGE) has almost doubled after bottoming out at $0.0491 in June 2022, alongside a similar recovery across the cryptocurrency market. On April 20, DOGE is trading for as high as $0.0942, up around 94% versus the last year's bottom. But, despite its impressive rebound, its price is still 88% below its all-time high of $0.76 set in May 2021. Thus, the DOGE/USD pair remains far from establishing a decisive bullish reversal on longer timeframes. DOGE/USD three-day price chart. Source: TradingView Dogecoin's bullish reversal ahead? Dogecoin price soared over 23,000% in 2021 primarily due to Elon Musk's vocal support. Ironically, DOGE/USD topped after Musk called it a "hustle" during his Saturday Night Live appearance in May 2021. DOGE price entered a prolonged long bearish cycle, furthered by the...