Dogecoin has recorded over 20% growth in the past week, outperforming other major memecoins such as Shiba Inu, Pepe, and Bonk.

At the time of publication, the price of DOGE is trading at 0.38 USD. Meanwhile, Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK) have decreased to 0.000034 USD, increasing by 10.5%, 14.8%, and 8.9% respectively.

Source: Coingecko

Dogecoin continues its strong upward trend

The growth of Dogecoin comes after renewed interest from whales. On January 3, more than 1.08 billion DOGE, worth about 413 million USD, was purchased by whales.

On the same day, a large transaction transferred 399.9 million DOGE (worth about 144.9 million USD) from Binance to an unidentified wallet. This type of transaction is often seen as a bullish signal, as money moved into a private wallet reduces selling pressure, indicating growth expectations.

According to data from CryptoRank, January has always been the best-performing month for DOGE, with an average return of 85%, higher than any other month of the year. In January 2021, DOGE surged 711%, while in January 2014, the increase was 269%. April is the second most effective month for Dogecoin, with notable gains such as 546% in April 2021 and 84.9% in April 2018.

Source: CryptoRank

DOGE could reach 1 USD by 2025: Galaxy Research

Alex Thorn, head of research at Galaxy Digital, predicts that DOGE could increase by 170%, reaching 1 USD for the first time and pushing the market cap to 100 billion USD.

"Dogecoin will eventually reach 1 USD, becoming the largest and oldest memecoin in the world, with a market cap hitting 100 billion USD," he wrote in Galaxy's 2025 cryptocurrency forecast on January 2. "However, Dogecoin's market cap could be overshadowed by the Department of Government Efficiency, a new agency that will be established to issue cuts that exceed Dogecoin's highest market cap in 2025."

The recent momentum of DOGE has been driven by the announcement of elected President Donald Trump, about the establishment of a new government agency called the Department of Government Efficiency (DOGE), with Elon Musk and Vivek Ramaswamy appointed as leaders.

DOGE's open interest (OI) has increased by over 50%, indicating a rise in participation from investors. According to CoinGlass, DOGE's OI has risen from 2 billion USD to 3 billion USD in the past five days, reflecting strong market interest.

Source: CoinGlass

On January 2, Spirit Blockchain Capital, a Canadian investment company, announced plans to leverage its Dogecoin holdings to generate additional profits. This move is similar to MicroStrategy's Bitcoin reserve strategy, using its BTC to generate additional revenue streams.

Spirit Blockchain aims to deploy its DOGE holdings into decentralized finance (DeFi) protocols, aiming to provide yield-based products for both institutional and retail investors.



https://tapchibitcoin.io/dogecoin-tang-20-khi-ca-voi-tich-luy-gia-dat-1-usd.html