Dogecoin Investors famously predicted that the meme coin would reach a price of $1 in 2021 when the market soared. But DOGE failed to meet expectations, peaking at just over $0.73 and then plummeting.
Galaxy Digital, an acclaimed crypto firm, has called for DOGE’s meme-milestone to be reached in 2025.
DOGE has not yet reached that benchmark but was close earlier this week. It is now priced at almost $0.39 following a 26% increase in price over the last seven days. The price was $0.317 when the year began, and it has since risen to nearly $0.39, after spiking by 26% in the last week.
Read the full report for more on how we see the year shaping up for crypto: https://t.co/msjoLt7HQN
— Galaxy (@galaxyhq) January 2, 2025
Galaxy announced its long-anticipated price of $1 in its "2025 Crypto Predictions" report published late last week, with the call made by the firm's Head of Research, Alex Thorn. Alex Thorn expects DOGE to reach a market capitalization of $100 billion, at $0.68 per share based on current supply. Then, the price will continue rising until it reaches the landmark price.
But Thorn believe that this DOGE will be overshadowed by another—the Department of Government Efficiency (DOGE), co-led by Elon Musk and Vivek Ramaswamy, which aims to help President-elect Donald Trump streamline government agencies and slash budgets.
"The Dogecoin market cap will be eclipsed by the Department of Government Efficiency, which will identify and successfully enact cuts in amounts exceeding Dogecoin’s 2025 high-water mark market cap," Thorn writes.
Dogecoin’s price soared to $0.48 during December. It was a new high for this meme currency. DOGE has gained about 1.5% today, according to CoinGecko data, whereas Bitcoin’s price is now $102,162 (up 4%). It reached a high of $102,482 in the early morning hours on Monday, surpassing $100,000 for first time ever.