Dogecoin experienced a significant rally at the end of 2024, fueled by the excitement surrounding the November US elections. However, the meme coin has since undergone a substantial correction. The fading interest in meme coins, coupled with macroeconomic challenges such as tariffs and their impact on risk assets, has left DOGE struggling to regain its momentum.
As a result, traders are now questioning if Dogecoin will be able to reach its previous peak once more in 2025.