Dogecoin's recent performance has been very strong, becoming the focus of news. This is mainly due to Musk launching the 'DOGE' promotion plan, after which he occasionally mentions Dogecoin. In addition, the popularity of Dogecoin is also continuously rising, especially as meme coins are currently very hot. Many speculate that Dogecoin may break through the current price range and hit the $0.70 to $1 milestone.
The price trend of Dogecoin may welcome changes
Currently, the price of Dogecoin is around $0.31, having risen by 1% in the last 24 hours. So far this year, Dogecoin's price performance has been quite good, especially after Musk announced the establishment of the Government Efficiency Department (DOGE).
In addition, the two staunch supporters of cryptocurrency, Musk and Trump, will join forces to bring more momentum to Dogecoin and the crypto market.
At the same time that everyone is discussing, some experts predict that the price of Dogecoin may experience a new leap. According to Javon Marks' analysis, Dogecoin is currently in a price 'correction' phase, a pattern that has also appeared in earlier price trends.
He also shared some convincing views, believing that the recent correction will actually lay the foundation for the next wave of increase in Dogecoin. Marks predicts that Dogecoin could rise by 122%, with future prices possibly soaring to $0.73.
He stated: “The recent correction in Dogecoin is like a sign of the previous cycle, similar trends have appeared before breaking historical highs! From this trend, we can prepare for an increase of over 122% (over 2.2 times), with a target of at least exceeding $0.739.”
Technical indicators and price predictions
Although Dogecoin is currently in a bullish trend in the market, some technical platforms have provided different views. According to CoinCodex data, Dogecoin may drop again by mid-January 2025, expected to fall to $0.27.
“According to current predictions, by January 22, 2025, the price of Dogecoin may drop by 10.72%, down to $0.273. Technical indicators show that the current market sentiment is bearish, with the fear and greed index at 73 (greed). In the past 30 days, Dogecoin has experienced a 47% increase in up days, with a price volatility of 8.88%. From the current situation, now may not be the best time to enter.”
However, the situation may be different in March 2025. By then, the price of Dogecoin is expected to rise significantly by 100%, breaking the $1 barrier.
“According to our current predictions, by March 23, 2025, the price of Dogecoin is expected to rise by over 300%, reaching $1.24. Although the technical indicators currently look bearish, the market's fear and greed index still shows 73 (greed). In the past 30 days, Dogecoin recorded 47% green days, with a price volatility of 8.88%. However, according to the current market situation, now is still not the best time to buy Dogecoin.”
