Dogecoin (DOGE) Shocking Suspense: Can It Chase Bitcoin (BTC) and Reach the $0.90 Peak?
In Bitcoin's epic rebound, Dogecoin whales are buying a large amount of this coin. There is an optimistic attitude that the DOGE price can break through the $3 mark in the long term.
The world's leading digital asset Bitcoin (BTC) bravely climbed to a new historical peak of $106,620 on December 15. Bitcoin's recent rapid rise has pushed its monthly increase to nearly 15%, while the increase from the beginning of the year until now has soared to about 150%.
Past experiences have shown that Bitcoin's recent high could drive other assets up. If this trend continues, Dogecoin (DOGE), as a leading meme coin, is very likely to follow BTC's pace and create new price highs.
At the time of writing this article, the DOGE price is $0.3993, with a 24-hour increase of 2.19% and a monthly increase of 5.5%. Although the daily and monthly increases are considerable, this meme coin has seen a decline of 8.16% in the past seven days.
In November, after Donald Trump won the U.S. presidential election, the cryptocurrency market experienced an extraordinary rebound. However, due to rising expectations for the Federal Reserve meeting, the market has recently stagnated. Market experts believe that if the Federal Reserve takes a dovish stance, DOGE and other assets may rebound again.
The price of DOGE will consolidate in the coming months. I believe DOGE will maintain its current level at least until February 20, 2025, and will rise before the end of February 2025, reaching $0.90 by March 15, 2025. An increase from the current price level to $0.90 would bring about a 125% rise.
However, Changelly has given a bearish prediction for Dogecoin. The platform predicts that Dogecoin will drop to a low of $0.351 in March 2025. Based on the current price level, the target of $0.351 would mean a drop of about 13.33%.
This technical pattern is often associated with a price uptrend, indicating that Dogecoin is about to enter another bull market. Tardigrade predicts a target price for Dogecoin of $8 to $10, which means significant upside potential for loyal holders.
