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Dogecoin (DOGE) is once again igniting fervent discussions across the crypto community. Following periods of consolidation and recent bursts of activity, bold predictions are re-emerging, with some influential voices suggesting a Dogecoin price of $1 is virtually "nailed on" for 2025.
But if the $1 milestone is indeed achievable, the bigger question for many investors is: Just how much further can the original meme coin realistically surge?
Recently, Dogecoin has shown notable underlying strength, even while consolidating near the critical $0.25 resistance level after a notable rally. This period has been marked by a substantial uptick in on-chain activity, signaling robust engagement. IntoTheBlock data revealed a 41.12% spike in high-volume DOGE transactions, movements often associated with whale and institutional investors, indicating growing confidence.
Concurrently, daily active addresses on the Dogecoin network increased by nearly 35%, with analyst Ali Martinez reporting figures around 127,570, reflecting heightened user interaction. This buzz is amplified by derivatives market data from Coinglass, which has shown a long/short ratio on Binance's DOGEUSDT pair standing at 3, indicating that 75.08% of traders were holding long positions, a clear sign of optimistic sentiment.
Furthermore, reports indicate large investors accumulated over 1 billion DOGE tokens (worth over $223 million) in just the past month. Despite this bullish undercurrent, the Dogecoin price has encountered some resistance around the $0.22-$0.23 area, with trading volume occasionally dipping, hinting at moments of consolidation.
The journey for the Dogecoin price to reach $1 from its recent trading range (around $0.2349 according to some reports) requires a rally of over 300%. While this is a significant climb, many bulls believe it's a feasible target for 2025 if key catalysts align.
The most potent catalyst many are watching is the potential approval of spot Dogecoin ETFs. With applications already filed by major financial players including 21 Shares, Bitwise and Grayscale and Nasdaq submitting a 19b-4 form for a Dogecoin ETF, the groundwork is laid.
The $1 Dogecoin price is overly ambitious, discussed thoroughly by a group of its ardent supporters and some analysts, but for it to take place, there has to be a perfect storm of several catalysts acting together. The immediate technical picture is one of consolidation around $0.22-$0.25, with resistance ahead. A daily close above $0.255 and $0.26 is needed to push Doge into a stronger rally that could take it to $0.30 and then $0.40.
If the breakout does not occur, the price could decline to retest support at $0.217 and then $0.15-$0.13. The road is steeper before even hitting $1, depending on the ability to juggle several psychological and technical restrictions along hard ETF-news and a strong broader market.
Beyond $1, targets like $3 or $4 are highly speculative and would necessitate Dogecoin capturing an even larger share of the overall crypto market cap, a scenario that depends on its sustained relevance and massive capital inflows over many years.
While the Dogecoin enthusiasts still watch the adventure towards the demanded $1 mark and beyond, some investors are diversifying into early-stage projects with different risk-and-rewards. Remittix (RTX), being one such new utility token in presale, trade close to $0.0757.
Having already raised over $15 million, Remittix focuses on disrupting the global payments sector with its PayFi protocol, aiming to provide fast, low-cost crypto-to-fiat transactions. Its lower entry point and focus on real-world utility present a distinct opportunity for potentially high percentage growth.
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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