Dogecoin (DOGE) may go through a long and difficult phase, only to experience an explosive rebound starting in April 2025.
Looking at Dogecoin's price fluctuations in 2024, it once rose to a high of $0.23, then stagnated for several months, only to break above $0.40 and reach a new annual high by the end of 2025.
If this price trend reoccurs, it may indicate that Dogecoin will be trapped in a stagnant range until mid-April, after which it may break through again around mid-next year.
Will Dogecoin's surge come faster?
This theory is quite interesting. Dogecoin bulls, hearing the risks, are more inclined to believe that Dogecoin's price will rebound before April next year, and they will surely be delighted.
Why is that?
The ironically named Department of Government Efficiency (DOGE), headed by Elon Musk, a long-time supporter of Dogecoin, will officially settle in Washington in January next year.
The new U.S. President Donald Trump's administration is arguably the most supportive of cryptocurrency in history; he has instructed to cut fraud and waste in government spending related to DOGE.
Musk has shown his power in Washington — he openly criticized the recent congressional spending bill on the X platform, reducing the bill's length from over 1,500 pages to just over 100.
It is expected that in 2025, DOGE will frequently make headlines, ensuring that Dogecoin dominates the meme coin market.
This means that as the 'Trump trade' once again drives up cryptocurrency prices (likely to happen in the coming weeks), DOGE will be the standout choice.
However, current chart analysis still shows that Dogecoin's price has downside risks.
Dogecoin's latest price is about $0.31, having fallen below the 21 and 50 DMA after last week's plunge.
Moreover, Dogecoin has not yet tested its early 2024 high around $0.23 again, and this price level will be the core target for the bears.
Chart analysis suggests that Dogecoin may trend downward in the short term. However, if its price truly drops to the low of $0.20, it might be a good opportunity to buy the dip.
Given that Dogecoin is highly likely to break $1.0 in this bull market and achieve a fivefold increase, it is a strong contender for the most valuable cryptocurrency to buy at present.
