Predictions for the Bull Market of Dogecoin: How Far Can DOGE Go?
The Price of Dogecoin Rises as Inactive Tokens Resurrect
Since 2021, the year of memes, Dogecoin has remained in the ranking of the top 10 cryptocurrencies. With nearly 2 million completed transactions in DOGE, what started as a joke has catapulted to a market value of approximately $48 billion. Despite market fluctuations, DOGE has gained backing from institutions and prominent figures like Elon Musk.
The recent increase in the Dogecoin metric called "Consumed Age" has reached 1 trillion, its highest level since October 2024. This metric tracks the movement of inactive tokens in old wallets, and significant activity often means a major price change in the ecosystem.
Technical Analysis of Dogecoin Towards 2025
Over the last month, the price of Dogecoin increased by 10%, adding to a total of 350% throughout 2024. According to on-chain activity, there has been a 2,390% increase in large transactions, while active DOGE addresses exceed 157,190. The recent DOGE 1.14.9 update demonstrated its resilience against a hacking attempt in mid-December, strengthening community sentiment.