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Bitcoin and Ethereum Hit New Highs—Why Not Dogecoin? Dogecoin remains well off its all-time high price while other high-cap coins keep setting records. Will DOGE get its moment to shine again? Mat Di Salvo By Mat Di Salvo Edited by Andrew Hayward Sep 6, 2025 5 min read Dogecoin is the crypto market's leading meme coin. Image: Shutterstock/Decrypt Dogecoin is the crypto market's leading meme coin. Image: Shutterstock/Decrypt In brief Dogecoin is one of the most valuable cryptocurrencies on the market, but it's down 70% from its 2021 peak. While Bitcoin, Ethereum, and XRP all recently set new peaks, Dogecoin isn't enjoying the same momentum. Experts tell Decrypt that the digital asset lacks use cases. Can a DOGE ETF really make a difference? Digital asset markets last year rallied following the approval of Bitcoin ETFs and U.S. President Donald Trump's victory, with the top 10 biggest cryptocurrencies (excluding stablecoins) by market cap all hitting new highs in the last 12 months. Dogecoin has been the one exception. While large-cap coins like Bitcoin, Solana, BNB, and XRP have all broken fresh records, Elon Musk's favorite meme coin, DOGE, is still priced more than 70% below its 2021 all-time high mark of $0.73. CoinGecko data shows that DOGE was recently priced at a little over $0.21. The coin saw a rebound last fall as Musk joined President Trump on the campaign trail, and continued rising after Trump won the election. But it peaked at about $0.48 in December, and hasn't been seen above the $0.40 mark since January.

1. What is $DOGE-1? - It's a coin on the Solana blockchain that has positioned itself around the “DOGE-1 Mission / Satellite” narrative. - There’s an existing satellite mission called DOGE-1 (announced by Elon in 2021) which will be funded with Dogecoin and will send a CubeSat to

2. The IP rights claim over “Doge-1” acts like staking a flag. $DOGE-1 (the coin) legitimately owning these rights around “DOGE-1" allows no other coin to associate themselves with the DOGE-1 mission. When Elon tweets about it, THIS coin and THIS coin only will be relevant.

3. Most importantly, if you are in crypto you know that any coin Elon tweets about giga sends to ridiculous numbers. When the time comes, Elon will be spamming "DOGE-1" all over his twitter. The potential this project holds is unmatched to any Solana project out there.