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Sujit Kumar
Jan 4, 2025
by Sujit Kumar

Dogecoin Surges 25%, Eyes $1 Amid Bullish Market Sentiment

Dogecoin Surges 25%

Table of contents

  1. Whales Drive DOGE Recovery
    1. $1 Price Target in Focus
  2. What’s Next for Dogecoin?
Dogecoin (DOGE) has surged significantly, gaining 16% in just 24 hours and climbing 25% over the past week. The popular meme coin is now trading above $0.39, its highest level in weeks, as it closes in on the $0.4 milestone.

Whales Drive DOGE Recovery

DOGE's recent surge follows a period of consolidation, during which whales accumulated significant amounts of the token. This accumulation phase set the stage for the coin's breakout, as it managed to overcome the $0.34 resistance level.

Analysts attribute the renewed interest in DOGE to the broader market's recovery and growing anticipation surrounding Elon Musk’s potential involvement in shaping crypto-friendly policies under Donald Trump’s administration.

$1 Price Target in Focus

Analysts remain optimistic about Dogecoin’s future, doubling down on predictions of the asset reaching $1 during the current bull cycle. Achieving this milestone would require DOGE to more than double its current valuation, but its historic price action and growing adoption keep such targets within reach.

Dogecoin previously hit a peak near $0.5 following a massive rally in early November but faced a sharp correction in December, dropping to $0.26. However, the coin has rebounded strongly, positioning itself as a leading performer among meme-based cryptocurrencies.

What’s Next for Dogecoin?

With Trump’s inauguration on January 20 and the potential unveiling of Musk’s D.O.G.E. department, Dogecoin’s performance remains a topic of keen interest. Whether it can sustain its upward momentum and hit the $1 mark remains to be seen.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Dogecoin Surges 25%
Dogecoin Surges 25%, Eyes $1 Amid Bullish Market Sentiment
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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