Dogecoin Bulls Hold $0.35 Support Level—When Will DOGE Hit $1?

Dogecoin (DOGE) fell 9% on Wednesday as risk assets fell after the US Federal Reserve announced a more hawkish stance.

The Fed decreased interest rates by 25bps but defied forecasts for fast rate reduction in 2025.

After a robust surge in recent weeks after Donald Trump's election in early November, some fear a further pullback.

The $0.33-35 level has been important for Dogecoin since mid-2021. If this level falls, Dogecoin might plummet below its early 2024 highs of $0.23.

Dogecoin investors should be bullish about 2025 despite a short-term market downturn.

These variables indicate enormous price rise for key cryptocurrencies, including Dogecoin, the most popular joke currency.

Second, Elon Musk's new Department of Government Efficiency (D.O.G.E.) is called after Dogecoin, linking it to the Trump administration.

Musk has long supported Dogecoin. The world's biggest meme currency will likely maintain its market share while Musk's D.O.G.E. makes headlines, for better or worse.

If Bitcoin reserves are built and the crypto business expands in the future years, Dogecoin may achieve $1 sooner rather than later.

This question may be answered by comparing Dogecoin to Bitcoin during the previous three market cycles.

Even when Bitcoin (BTC) started a new price discovery period in April 2017, December 2020, and November 2024, Dogecoin has remained considerably below its record highs.

No difference this time. However, Dogecoin only needed 1-3 months to catch up and reach record highs in the prior two market cycles.

If history repeats itself, DOGE might breakthrough in early 2025 and approach $1 rapidly.

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