Dogecoin (DOGE) Set for a 120% Rally – Can It Reach $0.90?
Dogecoin ($DOGE), the leading meme cryptocurrency, is gaining momentum, trading at $0.41 with the potential for a significant rally. Over the past month, DOGE has demonstrated strong bullish sentiment, reaching a yearly high of $0.55. The recent surge was fueled by key political developments, including Trump’s re-election, which boosted market optimism. With a staggering 400% increase in value over the past year, Dogecoin has solidified its status as one of the top-performing digital assets.
A prominent analyst predicts DOGE could experience a 100% rally by early 2025, pushing its price close to $0.90 and edging nearer to the coveted $1 milestone. Analyst Ali Martinez reported on December 13 that Dogecoin whales purchased over $200 million worth of DOGE within 24 hours, signaling growing interest. Martinez suggests that whale activity, paired with the ongoing buzz around Dogecoin, could propel its price higher by the end of 2024.
Although DOGE has seen a minor 4.5% dip in the past 30 days, its current price action mirrors patterns observed in 2021 before its explosive rally. Based on Fibonacci retracement analysis, Martinez estimates DOGE could surge 100% to approximately $0.89 by February 2025. Such consolidation phases are often seen as precursors to major upward trends in the crypto market.
Looking ahead, analysts remain bullish on Dogecoin. Digital Coin Forecast projects DOGE could hit $1.80 by 2026, with an average trading price of $1.65 and a floor of $1.50. This suggests $1 could become a long-term benchmark as mainstream adoption grows.
With robust whale activity, positive market sentiment, and historical patterns aligning, DOGE seems poised for a major rally, potentially reaching $0.90 in the months ahead.
