Dogecoin Price Forecast: Is DOGE Done for Good or Can It Return in 2025?
Currently trading at $0.1617, Dogecoin (DOGE) is still in a technical bear market and is down approximately 65% from its peak in December. This drastic descent has certainly raised the question of whether DOGE is “dead” or “worthless.” That said, technical analysis does point to a rebound—albeit contending that a surge to $1 by 2025 seems improbable.
With sharp declines seeming to mark DOGE’s price retreat, rather than prevailing market trends, recently sentiment shifed while a downturn Multi-asset class fund’s investor circles have markedly soured, as shown in the ‘Fear and Greed Index’ which recently hit into the ‘fear’ zone at 25. That said, DOGE seems to have bottomed given that it is currently bouncing off the key 200-week EMA support level.
In addition to the above, Dogecoin’s chart also depicts that the price declined towards the lower boundary of a bullish broadening wedge pattern also known as a ‘megaphone.’ In the case where this change is depicted in the fundamentals then the price can rally towards last year’s high of $0.4782—a potential of approximately 195% increase from the current value.
For such a rally to occur, overall market conditions would need a palpable shift in a positive direction. This includes bullish investor sentiment, a vibrant recovery in the crypto market, and Bitcoin reaching new all-time peaks. In the absence of these considerations, DOGE might remain under sustained sell pressure. A decline below the critical support area around $0.1210 would render the bullish scenario unfounded.
As concerning the $1 mark, Dogecoin would have to surge over 525% from the current price level. Not all that unlikely given DOGE’s history of doing so, but without major catalysts this year lowdown during the summer period makes sense.
Despite all this, Dogecoin isn’t dead. Even though it’s the largest meme coin by market cap, it’s still a hefty figure at $24 billion, worth more than Capgemini and Carnival. Potential future sparks include the launch of a spot DOGE ETF, more crypto market rallies, or Musk making DOGE a part of X Payments.
All the mentioned above, makes Dogecoin’s decline appear typical, and historically expected at this point in time. In the cycles, the cryptocurrency faces rebounds and declines, though hitting the $1 mark will seemingly require more boosting market conditions to do so.
