Dogecoin (DOGE) may experience a long and challenging period, but a significant rebound is expected in April 2025. Looking back at 2024, Dogecoin's price briefly soared to a high of $0.23, but failed to continue rising in the following months, only breaking through $0.40 by the end of 2025, setting a new annual high.
If this price pattern reoccurs, it may indicate that Dogecoin will linger in a stagnation range until mid-April, before attempting a breakout again around mid-next year.
Will the rise of Dogecoin come faster?
This theory is quite intriguing. Bullish investors in Dogecoin may be more inclined to see a price rebound before April next year if they hear about the risks, which would undoubtedly make them happy. Why? The agency named the Department of Government Efficiency (DOGE), somewhat ironically, is headed by Elon Musk, a long-time supporter of Dogecoin, and this department will officially establish itself in Washington next January.
The new U.S. President Donald Trump’s administration is considered the most cryptocurrency-friendly in history, as he has directed DOGE to reduce fraud and waste in government spending. Musk showcased his influence in Washington—he openly criticized the recent congressional spending bill on the X platform, reducing the document's length from over 1,500 pages to just over 100. By 2025, DOGE is expected to frequently make headlines, essentially ensuring Dogecoin's dominance in the meme coin market.
This means that as the 'Trump trade' once again drives cryptocurrency prices (likely to happen in the coming weeks), DOGE will be the standout favorite. However, current chart analysis still indicates that Dogecoin prices carry downside risks. The latest price of Dogecoin is approximately $0.32, having fallen below the 21-day and 50-day moving averages after last week's sharp decline.
Additionally, Dogecoin has not yet tested its early 2024 high of $0.23 again, which will become a primary target for bears. Chart analysis shows that Dogecoin may experience a downward trend in the short term. However, if the price indeed falls to the low of $0.20, it could present a good buying opportunity. Considering the potential for Dogecoin to break through $1.0 in this bull market and achieve a 5x increase, it is undoubtedly one of the most valuable cryptocurrencies to invest in right now.
