Dogecoin News: Will Dogecoin Follow Bitcoin's Footsteps to Reach $0.90?

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The world's leading digital asset Bitcoin (BTC) reached an all-time high of $106,620 on December 15. Recently, Bitcoin's surge has pushed its monthly gain close to 15%, with a year-to-date increase of approximately 150%.

DOGE May Benefit from Bitcoin's Rise

As has been proven in the past, Bitcoin's recent highs may drive up other assets. If this trend continues, the leading memecoin Dogecoin (DOGE) may follow BTC's trajectory and reach new highs.

As of the time of writing, DOGE's price is $0.3993, having increased by 2.19% in the past 24 hours and by 5.5% in the past month. Despite daily and monthly growth, the memecoin has fallen by 8.16% in the past seven days.

Many attribute the weekly decline in Dogecoin's price to rising inflation rates in the U.S., which has led to investor panic. These investors may be weary of investing in risk assets like Dogecoin.

In November, after Donald Trump won the U.S. presidential election, the cryptocurrency market experienced an extraordinary rebound. However, the market has recently stagnated due to increasing expectations surrounding the Federal Reserve's meetings. Market experts believe that if the Fed takes a dovish stance, DOGE and other assets may rebound again.

Market data tracking platform CoinCodex predicts that DOGE's price will consolidate in the coming months. The platform believes that DOGE will maintain its current level at least until February 20, 2025. CoinCodex predicts that DOGE will rise by the end of February 2025 and reach $0.90 by March 15, 2025. Notably, rising from the current price level to $0.90 would represent an approximate 125% increase.

However, Changelly has given a bearish forecast for Dogecoin. The platform expects Dogecoin to drop to a low of $0.351 in March 2025. At the current price level, the $0.351 target would mean a decline of approximately 13.33%.

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