A Dogecoin price of $3.50 is possible with a Wall Street veteran calling DOGE better than Bitcoin.
Dogecoin versus Bitcoin
NAIROBI (CoinChapter.com) — Dogecoin (DOGE) is attracting attention with predictions that it could rise to $3.25 by 2025. Wall Street analyst Raoul Pal has also weighed in, highlighting this memecoin's 550% outperformance compared to Bitcoin (BTC) over the past decade. He describes it as a surprising 'hard money' candidate, citing its resilience and community support as key drivers of its impressive success.
Raoul Pal highlights DOGE's 550% outperformance compared to BTC.
Pal emphasizes Dogecoin's viability despite the lack of support from institutions that Bitcoin has, noting the token's resilience and community support for its ongoing upward trend.
Will Dogecoin reach $3.25? Analyst predicts explosive growth by 2025.
Ali Martinez has predicted a target of $3.25 by 2025, citing increased whale activity and DOGE's acceptance in payment systems. Martinez points out that DOGE's technical indicators, including its position on the 50 and 200-day moving averages and a strong ADX reading of 30, support a bullish trajectory.
Dogecoin aims for $0.82 amid a bullish surge.
In the short term, Martinez predicts a potential surge to $0.82 if Dogecoin maintains critical support at $0.37. He emphasizes the bullish flag pattern on DOGE's daily chart — a classic bullish setup where a strong upward move is followed by a consolidation phase. A successful breakout could signal a 120% increase, although a return to the $0.32 level could occur if there is a market correction.
Concerns about tax policy and the response from the Dogecoin Fund
The Dogecoin Fund has commented on recent speculation regarding potential tax reforms in the U.S. under President-elect Donald Trump.
Reports suggest that these reforms could benefit cryptocurrencies created by U.S. companies. The fund has echoed concerns from a community member that such policies would be unfair to decentralized tokens, which are community-driven like Dogecoin.
Calling for the inclusion of cryptocurrencies in policy reforms.
The article criticized the proposed reforms for encouraging 'crony capitalism' by favoring company-backed cryptocurrencies over open-source projects. Current U.S. tax laws impose up to 37% capital gains tax on cryptocurrency transactions, hindering broader adoption. The Trump administration has not confirmed any changes, leaving the market uncertain.
#MarketDownturn #Dogecoin $DOGE
