Dogecoin (DOGE) is currently trading at about $0.0593
Founder of Gokhastin Media, David Gokhshtein, is full of ideas about Dogecoin. He wrote, “I was really thinking about DOGE today. Is it going to crack its previous ATH? Gotta do it.”
The 10th-largest cryptocurrency by market capitalization is Dogecoin, which has a value of $7.87 billion. According to data from CoinMarketCap, the top meme coin, Dogecoin (DOGE), is currently trading at about $0.0593, down 0.28% for the day.
The price volatility of the popular dog-themed coin coincides with a general decline in the crypto market, which saw a somewhat lower total valuation during the day to the current level of $920 billion.
Taking a broader view, it has been more than a year since the historic meme coin craze caused the asset to reach record highs. In May 2021, Dogecoin reached an all-time high of $0.73, just before Tesla CEO Elon Musk’s appearance on “Saturday Night Live.”
Much to the dismay of investors, Dogecoin is currently trading down 92% from its all-time high and nearly 75.9% since the start of the year, following bearish market conditions.
Gokhshtein predicts potential
David Gokhshtein has been bullish on Dogecoin all along. He thinks that when the next bull run in the cryptocurrency market starts, meme coins like Dogecoin might experience a parabolic rise. Additionally, he thinks that these types of assets will eventually “lead new retail buyers into the crypto industry.”
Currently, Dogecoin is waiting for a positive catalyst for its price. For now, the focus is on Tesla CEO Elon Musk’s Twitter deal, which will take an apparent turn on October 28. Elon Musk previously floated the idea of using Dogecoin as a form of payment on social media, if it goes ahead.
The meme coin saw some positive price action earlier in October, after the news surfaced that the Tesla CEO had agreed to purchase Twitter on the deal’s original terms.
