Dogecoin (DOGE) was one of the first cryptocurrencies to experience a significant price surge at the end of last year, peaking at nearly $0.48 in November. Since then, the meme coin has seen substantial sideways movement and recently experienced a major pullback. However, according to analyst Dima James Potts, there is still great potential: he even predicts a price of $10 per DOGE.
Market cyclicality
In a recent article about X, Potts explained that the cryptocurrency market is cyclical. Bitcoin (BTC) and other major digital assets usually hit higher peaks in the fourth year of a bull market. Potts expects Dogecoin to follow this pattern. In his base case, DOGE reaches at least $10, while his more ambitious estimate is $80 per token.
Potts pointed out previous price surges:
2016: +72%
2020: +115%
2024: +282% (forecast)
Based on this trend, he believes that Dogecoin could reach the $10 mark between February 11 and May 7, 2025. This translates to a growth of 3,025%, setting a new all-time high. Is this price target realistic? That's the second question. Regardless, many analysts seem to agree that DOGE can offer more.
DOGE and Elon Musk
Meanwhile, DOGE investors are cheering for the establishment of the 'Department of Government Efficiency' (DOGE). This initiative was launched by prominent Dogecoin supporter Elon Musk, and it's not a coincidence that it's named after the popular meme coin.
While the feasibility of a $10 target price in the short term is still up for debate, many analysts agree that Dogecoin still has significant growth potential.
