2025-1-7 00:25 |
Dogecoin investors famously clamored for the largest and oldest meme cryptocurrency to skyrocket to a dollar back when it soared in 2021, but bears stopped DOGE’s rally dead in its tracks. The canine-themed crypto ended up topping out at just around $0.73 before plunging.
But now, six days after welcoming the new year, Dogecoin has entered a bullish period, and prominent crypto firm Galaxy Digital is calling for the coin to reach that long-awaited price tag in 2025.
What Will It Take For DOGE To Hit $1 In 2025?The Dogecoin price has recently captured traders’ attention with an impressive performance in recent days. DOGE neared the $0.40 level earlier Monday, currently priced at around $0.3906 after a 22.7% uptick in the last week, thus brewing optimism for a potential explosive breakout.
At the start of 2025, DOGE was valued at around $0.317. However, it has been the second-biggest gainer among the top 10 cryptocurrencies by market capitalization, trailing only Cardano’s ADA with a 33% growth. DOGE has also outperformed other meme coins, including Shiba Inu (SHIB), Pepe, and Bonk.
In its recent “2025 Crypto Predictions” report, Galaxy Digital’s Head of Research, Alex Thorn, predicted the much-anticipated $1 milestone for Dogecoin. He projects a $100 billion market cap for the meme-inspired crypto, which would happen at a price of around $0.68 based on current circulating supply. Such a valuation would be unprecedented for DOGE, whose market cap peaked at $98.5 billion during the 2021 bull rally. Moreover, Dogecoin would need to spike a staggering 86% to reach 68 cents.
Yet, Galaxy Research thinks DOGE will not peak there. According to Thorn, the meme coin will blast above its current lifetime high this year and finally hit $1 for the first time. Topping the one-dollar price would mean DOGE’s market valuation hits nearly $150 billion — representing a 175% rise from the current valuation.
But Thorn believes that this DOGE will be overshadowed by another — the Department of Government Efficiency (D.O.G.E.). D.O.G.E., co-led by Elon Musk and Vivek Ramaswamy, will be tasked with helping U.S. President-elect Donald Trump slash costs across the entire federal government, in an attempt to reduce wasteful spending and pay down the country’s ballooning debt. Apart from being humorously tied to Dogecoin’s ticker, D.O.G.E. has absolutely nothing to do with the meme crypto.
“The Dogecoin market cap will be eclipsed by the Department of Government Efficiency, which will identify and successfully enact cuts in amounts exceeding Dogecoin’s 2025 high-water mark market cap,” Thorn wrote.
DOGE Whales AccumulateMeanwhile, Dogecoin has witnessed renewed interest from whales. On Jan. 3, over 1.08 billion DOGE, worth approximately $412 million, was purchased by whales.
More recently, widely-followed analyst Ali Martinez said in a Jan. 6 X post that whales had snapped up 140 million DOGE over the past 24-hour period.
These actions indicate growing confidence among wealthy investors in the meme coin’s upward trajectory. That said, the Dogecoin price could benefit from whale accumulation to push it over the $1 psychological barrier.
origin »Dogecoin (DOGE) на Currencies.ru
|
