Is 1 $DOGE $10 in 2025? Let's Find Out!

Bittime - Dogecoin (DOGE), a cryptocurrency made famous by memes, has seen its price surge nearly fourfold in the past two months. Even though it is currently experiencing a downturn, this incredible rise has investors wondering how high the price of Dogecoin can reach.

Current Dogecoin Market Performance

On December 11, 2024, Dogecoin was trading at $0.40 per token (around IDR 6,480). The cryptocurrency is struggling to maintain this local support level for the third session in a row, despite testing monthly lows.

Currently, Dogecoin is ranked seventh among the largest cryptocurrencies by market capitalization, with a value of $59 billion (around IDR 956 trillion). Although well below sixth-ranked BNB with nearly $100 billion, Dogecoin showed an impressive daily trading volume of $9.6 billion (roughly IDR 155 trillion), surpassing fifth-ranked Solana with $7.8 billion.

Source: coinmarketcap

Dogecoin Technical Analysis

Dogecoin hit a peak of $0.4846 (around Rp. 7,855) in December, its highest level in more than three years. However, technical analysis shows that the price has been moving within an ascending regression channel, and the latest decline caused the price to break the lower boundary of the channel.

A significant support level is located around $0.35 (around Rp. 5,670), which could be a buying opportunity if the price falls further. 

Currently, strong resistance zones include the local maximum at $0.48 (around Rp. 7,776) and the psychological level at $0.50 (around Rp. 8,100). 

If this level is successfully penetrated, Dogecoin could reach its previous highest peak of $0.70 (around Rp. 11,340).

Read too What is Dogecoin Trailmap? The DOGE Community Definitely Knows!

Dogecoin Support and Resistance Levels

• Support Level: $0.40 (Rp6.480), $0.35 (Rp5.670), and $0.30 (Rp4.860)

• Immediate Resistance: $0,44 (Rp7.128)

• Secondary Resistance: $0,48–$0,50 (Rp7.776–Rp8.100)

• Third Resistance: $0,74 (Rp12.008)

Dogecoin Price Prediction for 2024 and 2025

Dogecoin price projections show significant variations among analysts. For the end of 2024, some estimates suggest DOGE could reach between $0.494 (around IDR 8,000) to $0.60 (around IDR 9,720). 

Meanwhile, projections for 2025 show a wider range, with some analysts predicting DOGE could reach $10 (around IDR 162,000) or more.

Can Dogecoin Hit $10?

A cryptocurrency market analyst, Dima James Potts, identified a bullish pattern indicating that Dogecoin could experience significant price appreciation in the coming months. Potts noted that a recurring pattern showed DOGE reaching a key resistance level within a four-month period. 

If this pattern continues, DOGE could test the same resistance level in January 2025, with a price target of $1.50 (around IDR 24,300).

Potts also noted that if this pattern is successful, DOGE's price target could increase over time, with the possibility of reaching the $10 level (around IDR 162,000) in 2025.

Read too How to Buy Dogecoin (DOGE)

Catalysts and Risks to the $10 Target

Some factors that could push Dogecoin towards the $10 target include:

Bullish Catalyst for Dogecoin

• The formation of an Inverse Head and Shoulders pattern which often leads to price spikes.

• Increased trading volume and whale activity.

• Strong community support and recognition from influencers, including Elon Musk.

• Integration into global payment systems.

Dogecoin's Significant Risks

• It requires a market capitalization that exceeds $1.37 trillion (around IDR 22,200 trillion), which is more than three times the market capitalization of Ethereum.

• Unlimited supply creates constant selling pressure.

• Early investors will likely take profits as prices rise.

• Requires sustained bull market conditions and massive adoption.

Read too Dogecoin Price Target is at $20, Here's the DOGE Prediction According to Experts

Conclusion

At its current price of $0.40 (around Rp. 6,480), Dogecoin needs an increase of around 2,400% to reach $10 (around Rp. 162,000). While technical indicators and market sentiment suggest upside potential, structural challenges make this target ambitious and require significant market changes and sustained momentum.

Recent analysis shows that Dogecoin has the potential to reach even higher prices, and many are looking forward to the next developments in this cryptocurrency's journey.

Frequently Asked Questions (FAQ)

1. Can Dogecoin (DOGE) reach $10 in 2025?

Based on market analysis and bullish patterns identified by several analysts, Dogecoin has the potential to reach a price of $10 (around IDR 162,000) by 2025. However, this requires significant changes in market conditions and strong support from the community and investors.

2. What factors can push the price of Dogecoin up?

Several factors that can drive the price of Dogecoin include the formation of an Inverse Head and Shoulders pattern, increasing trading volume and whale activity, support from influencers such as Elon Musk, and the integration of Dogecoin into the global payment system.

3. What are the risks faced by Dogecoin in reaching a high price target?

Dogecoin faces several risks, including the need to achieve a very high market capitalization, constant selling pressure due to unlimited supply, and the possibility of early investors taking profits as the price rises. Additionally, Dogecoin needs sustained bull market conditions and massive adoption to achieve its ambitious price target.

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Reference

Michael Ndu-Okeke, Market expert predicts Dogecoin to hit $10 in 2025, Accessed December 30, 2024

Damian Chmiel, Will Dogecoin Reach $10? DOGE Current Price and Predictions for 2025, Accessed December 30, 2024

Author: IN