Bitcoin failed to reach $100K but Dogecoin could explode in double digits to $0.5.

All eyes in the crypto community were on bitcoin as the asset was expected to eventually hit the $100,000 high. Although it has come a long way around $250 on most exchanges, BTC has not been able to do so and has retreated in a larger area.

However, Dogecoin has emerged to grab the attention now, with its sharp rise to $0.48 earlier today – a new 3.5-year high.

The biggest meme coin went live at $0.4 for a few days but eventually settled under the bear. However, since the bull market in 2021 H1 yesterday it broke above it and shot up to $0.42 and then to $0.48.

Dogecoin has been among the most popular since Trump won the US election, perhaps due to Musk's association with meme coin and the president-elect. DOGE is up over 200% in the past month and crypto analysts are now setting impressive and possibly far-fetched targets for the asset during this bull cycle.

$doge is about to break out of the last log scale fib high and beyond. $4-10 would be very interesting to close the loop. We want him to hit absolutely unreasonable numerical targets to solidify his position in the crypt for next season. pic.twitter.com/KJqPvNyD1E

— Cephii (@Cephii1) November 22, 2024

DOGE is the best performing meme coin in the last 24 hours. The only hole in the green is SHIB, which is over 7%.

However, PEPE, BONK, WIF, FLOKI, BRETT, POPCAT and even the latest sensation PNUT have losses of up to 7%.

Additionally, DOGE's rally has generated nearly $40 million for Dogecoin bears in the past 24 hours, CoinGlass reports.