Record-Breaking Dogecoin Futures Push Analysts to Predict $1 DOGE in 2025.

Increased whale activity and large withdrawals from exchanges signal a growing interest in Dogecoin (DOGE), the leading memecoin by market capitalization.

While AI-driven tokens and stock market parody coins have recently gained attention, major market players are shifting their focus back to Dogecoin, with some analysts predicting the coin could hit $1 by 2025.

Recent data from multiple sources shows a marked increase in whale transactions, especially those over $100,000, which typically indicate a potential move to higher price levels. Historically, January has been Dogecoin’s strongest month, with an average return of 85%. In exceptional years like 2014 and 2021, the memecoin saw gains of 250% and 700%, respectively. The median return for January is 5%, just behind October’s 8%.

Futures markets for DOGE also saw a record increase on Monday, with open interest rising to 10.35 billion DOGE, up from 7.50 billion DOGE over the weekend. This represents a new high, surpassing the previous peak of 10 billion DOGE in March 2024, according to CoinGlass data. Open interest is the total number of unsettled derivative contracts and is often an indicator of new money entering the market, confirming trends and signaling potential volatility.

The rising open interest suggests a possible continuation of the bullish trend. CoinDesk market analyst Omkar Godbole forecasts that DOGE could reach 50 cents in the short term, based on positive technical indicators.

“DOGE has moved above the crucial 50-day simple moving average (SMA), and the 10-day SMA is showing an upward trend, indicating a bullish outlook,” Godbole said. “Additionally, the price discrepancy between Coinbase and Binance has been eliminated, which suggests that DOGE may break the $0.40 resistance and move towards 50 cents or higher.”

The simple moving average (SMA) is a technical tool used to track the average price over a specific period, helping traders identify support and resistance levels.

“However, trading volumes on Coinbase remain lower than during the November rally, so caution is advised as long as the $0.40 resistance holds,” Godbole added.

Some analysts are even more optimistic, predicting Dogecoin could reach $1 by 2025, nearly 50% higher than its all-time high of 70 cents in 2021.

“Dogecoin will eventually hit $1, pushing its market capitalization to $100 billion,” said Alex Thorn, head of research at Galaxy Digital, in his 2025 market outlook. “However, this market cap will soon be eclipsed by the Department of Government Efficiency, which will execute cuts greater than Dogecoin’s projected high for 2025.”

The recent surge in Dogecoin’s value has been partly driven by ongoing support from tech entrepreneur Elon Musk, especially following his endorsement during the Trump administration.

Musk’s plans for a “Department of Government Efficiency” (D.O.G.E) to streamline government spending have further sparked excitement. This has led to increased speculation that Dogecoin will continue to generate mainstream media buzz and capture retail traders’ attention, as noted by CoinDesk in October.

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