In the last thirty days the price of Dogecoin has risen by 34%.
Note that in the same period Bitcoin recorded only a +18%, while for example Solana a +19%.
Among the top 10 cryptos, only Ethereum has performed better than Dogecoin in the last thirty days (+48%), and in the top 20, only Hyperliquid has been added (+84%).
The growth of the price of Dogecoin (DOGE)
Regarding the price of Dogecoin, the first thing to remember is that it still remains at -67% from the highs of 2021.
After those highs, reached in May of that year thanks to Elon Musk alone, the price of DOGE had plummeted from $0.7 to $0.06, which means a loss of more than 90%.
A first significant rebound, however, had already occurred at the end of 2023, also because the collapse of 2022 had been truly excessive: at that time it managed initially to climb back at least above $0.1, only to make in the first months of 2024 a first attempt to climb back above $0.2, which then failed.
That attempt, however, at the end of 2024 was followed by another attempt, triggered by Trump’s electoral victory, which then, however, was successful.
In fact, last December it even tried to approach $0.5.
The price correction of Dogecoin (DOGE)
In the early months of 2025, following the general trend of the crypto market, the price of Dogecoin (DOGE) fell, dropping below $0.2 again.
It can be said that, net of bubbles, it is since the end of 2023 that the price of Dogecoin has been hovering around $0.1 or $0.2, so much so that the bottom reached in 2025 due to the correction of the crypto markets was perfectly in line with those levels.
This actually should be interpreted as a good sign, so much so that the bull crypto markets subsequently rewarded Dogecoin.
DOGE rebounds: towards new ATH?
Thus, on May 9, 2025, a rebound in the price of Dogecoin began, likely still ongoing, which first brought it back above $0.2, and then recently brought it back above $0.24.
This is a decidedly significant rebound, as it has definitively interrupted the correction of the past months, and it has the merit of having brought the price of Dogecoin above the average oscillation levels of the last two years, net of the bubbles.
However, it is still necessary to be very cautious, because despite this, it has not yet even been able to approach the local highs of late 2024.
The correlation with Ethereum
In some ways, the recent trajectory of Dogecoin’s price resembles that of Ethereum, more than that of Bitcoin or Solana.
In fact, even Ethereum at the end of 2024 did not manage to approach the highs of 2021. Furthermore, in 2025 it dropped significantly, and for a couple of weeks, it has entered into a strong bull rebound.
The thing is a bit surprising, because Dogecoin and Ethereum are two completely different crypto projects, and they have nothing important in common with each other.
For example, the success of Solana is due to the memecoin, and Dogecoin is the first and most important memecoin. Instead, on Ethereum, the importance of memecoins has decreased significantly in recent years, thus increasing the differences with Dogecoin.
However, what probably unites the price trends of DOGE and ETH is simply chance, that is, the fact that both between 2023 and 2024 have suffered more than other cryptos (like SOL of Solana itself), although for different reasons, while during 2025 they are simply bouncing back after several months of excessive suffering.
The future of Dogecoin
At this moment Elon Musk has stopped promoting Dogecoin.
The suffering of the DOGE price from 2022 to 2024 inclusive is most likely due to Musk’s abandonment of the project, and as of today, it does not seem that this scenario can change.
For it to return to its former glory, it is necessary for Musk himself, or someone with similar online media power, to start promoting it again, also because, being a memecoin, it can rely solely and exclusively on the enthusiasm of the community.
Obviously, however, like all memecoins, it is a purely and exclusively speculative asset, on whose price it is easy for bubbles to inflate, which then inevitably end up bursting.
If, as many claim, a new mini-altseason like the one in November could occur in June, then the price of Dogecoin might try to approach $0.5 again; otherwise, it is possible that it will continue to oscillate between $0.1 and $0.2, perhaps even pushing towards $0.3.
