Can Dogecoin reach 0.5 USD soon?

The meme cryptocurrency Dogecoin (DOGE) has been present in the market for quite a long time. The growth of this asset has been at two extremes. While DOGE has been moving slowly for a certain number of years, especially in the past 12 months, the price has increased significantly for this meme coin. This asset reached a notable high of $0.4775 earlier this month. While the community waits for DOGE to skyrocket, some are currently investing in the hope that this asset will reach a new high. Can Dogecoin reach 0.5 USD soon? Over the past month, Dogecoin has surged significantly by 219%. At the time of reporting, DOGE is trading at $0.4302 after a nearly 2% increase over the past 24 hours. In this context, the daily trading volume of Dogecoin has decreased. The 24-hour trading volume of this asset is $10.65 billion. This asset is expected to reach $0.50 earlier than expected. This meme coin reached an all-time high of $0.7376 about four years ago in 2021. Currently, DOGE is down 41% from this level. Although it may take a while to reach the current price, DOGE has witnessed a significant surge in recent days. Therefore, it would not be surprising if this asset achieves a new high. Looking at potential profits At the time of writing, a $100 investment in Dogecoin would buy 232.56 DOGE at the current price. If Dogecoin were to recover to its all-time high, that $100 investment today would be worth $171.51. Although it might not seem like much, it's important for some investors who have put more money into this meme coin. Furthermore, it should be noted that the community sentiment on CoinMarketCap shows that the majority of Dogecoin investors are optimistic about this asset. About 87% are optimistic about the potential price increase of DOGE in the coming days. Only 13% of the community are uncertain about the upcoming price surge of this meme coin.