Dogecoin (DOGE) is currently trading at the $0.40 price range and is looking to level up in the charts. The meme coin reached a yearly high of $0.47 last month, attracting heavy bullish sentiments. Trump’s re-election kicked off a rally, doubling its price in less than a month. In addition, DOGE has soared nearly 350% in a year and is among the market’s top-performing digital assets.
Now, the top meme coin is eyeing up a new surge heading into 2025 of nearly 85%, according to one analyst. A surge of that size would place Dogecoin at roughly $0.75, just a quarter away from a $1 valuation. Over the last 24 hours, Dogecoin whales have bought $160 million worth of the meme coin, per a chart shared by Ali Martinez in a December 13 X post. Martinez feels that the ongoing hype around DOGE as well as bullish activity by whales could send the dog-themed cryptocurrency to new highs to close off 2024.
Although the price of DOGE has actually declined by 4.37% over the last thirty days, this period of consolidation bears a striking resemblance to the cryptocurrency’s price action back in 2021. If these similarities continue to play out, based on Fibonacci retracement, Dogecoin could experience an 85% surge from current prices to reach prices as high as $0.75443 by January 2025, per Martinez’s analysis.
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Looking beyond 2025, bulls are holding onto hope of $1 being the new standard for Dogecoin. Leading on-chain metrics and prediction firm Digital Coin Price has painted a bullish picture for Dogecoin. According to the price prediction, the meme coin could reach a new high of $1.48 in 2026. The average trading price could be $1.34, and the minimum price the meme currency could trade is $1.20.
With the majority of the crypto market bullish on DOGE, an 85% rally to $0.70 seems imminent.
