The popular meme coin Dogecoin (DOGE) is having a rough time in the bear market. However, David Gokhshtein, who is also a famous politician, sees serious potential in DOGE. So, he is waiting for it to break its all-time high.
“DOGE has to break his previous ATH!”
The original meme coin, Dogecoin (DOGE), hasn’t been getting enough electricity from its promoter Elon Musk lately, either. However, there are also those who believe in him. David Gokhshtein, founder of Gokhshtein Media, has some very promising thoughts for Dogecoin. In this context, Gokhshtein shared the following on Twitter:
I was actually thinking of DOGE today. Will it break its previous ATH? Must.
I was actually thinking about $DOGE today.
Is it going to crack its previous ATH?
It has to.
— David Gokhshtein (@davidgokhshtein) October 22, 2022
DOGE continues to maintain its position as the 10th largest cryptocurrency by market cap. It currently has a market capitalization of $7.87 billion. The largest meme coin, Dogecoin (DOGE), is currently trading at around $0.05975, up 0.47% on the day, according to data from CoinMarketCap.
However, the price action of the popular dog-themed coin is rather lackluster. However, the general situations in the cryptocurrency market are parallel. In the harsh winter conditions, the crypto market is far from its heyday. DOGE’s weak price action also coincides with the general decline in the crypto market.
More broadly, it’s been more than a year since the historic meme cryptocurrency frenzy caused the asset to hit record highs. As you follow on Kriptokoin.com, Tesla CEO Elon Musk introduced Dogecoin on the ‘Saturday Night Live’ program in May 2021. Just before that, DOGE hit an all-time high of $0.73. Dogecoin slipped 92% from record level after bearish market conditions. It has also fallen by about 75.9% since the beginning of the year.
Gokhshtein estimates potential in Dogecoin (DOGE)
David Gokhshtein has been bullish on Dogecoin since the beginning. He sees it as possible for meme coins like Dogecoin to experience a parabolic rise as the next bull run in the cryptocurrency market begins. Additionally, he has thoughts that such assets will eventually “drive new individual buyers into the crypto industry.”
Currently waiting for a positive catalyst for Dogecoin price. Attention is focused on Tesla CEO Elon Musk’s Twitter deal, which will make a clear return on October 28. Elon Musk has previously come up with the idea of using Dogecoin as payment on social media if that happens. Meanwhile, DOGE saw some positive price action in early October after it was revealed that Musk had agreed to buy Twitter under the original terms of the deal.
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