Assessing the Odds of Dogecoin Price Rallying Above $1 in 2025

Key Insights:

• Dogecoin price action shows healthy investor interest for the second time in 4 weeks.
• The technical trends suggest a DOGE price upside of 70% is possible.
• A look at how whales are positioning themselves as far as DOGE is concerned.

Dogecoin pulled off an impressive rally during the 2021 rally, but it failed to push to the highly coveted $1. The king of the meme coins remains attractive in the crypto industry, considering its recent performance and despite higher competition.

A lot has changed since 2021, not only for Dogecoin but also for the crypto industry in general. More institutional activity is involved this time, and the market is more mature.

But does this mean that the $1 price tag is an achievable goal this time, especially with the latest altcoin season excitement

Dogecoin price peaked at $0.73 during the previous bull run in 2021. Its $0.23 press time price tag was a 67% discount from its historic top, meaning there was plenty of room for the price to recover.

Speaking of recovery, DOGE price was up about 17% last week in line with the overall market’s bullish relief.

Dogecoin price experienced a few major upticks over the last 3 years. The first occurred in late March 2022, during which it rallied by 94% on a single day (22 March).

This was the first major recovery attempt after the price crashed from its 2021 highs.

The second major DOGE rally started around late February 2024 and lasted about 4 weeks. This time it rallied by about 200%.

Meanwhile, the third major bullish wave commenced in mid-October and peaked in early December 2024.

Notice that each wave was bigger than the previous one, and the durations between the waves grew shorter. Another major observation was that pullbacks have been achieving higher lows since October 2023.

Dogecoin may already be in the early stages of the 4th bullish wave, considering its bounce back since June. If the same characteristics were to play out, then the current wave should be more pronounced than the previous one.

The next major rally could potentially be as big as the 2021 rally if Dogecoin continues following the same rules.  It suggests that DOGE price could achieve a new ATH, and this could be its biggest chance at a $1 price tag.

While the potential upside was huge, market sentiment flashed different signs. Polymarket data indicated that there was only a 19% chance that Dogecoin would soar to a new all-time high in 2025.

DOGE Whales Continue to Show Interest in the Meme Coin

Although the latest weekly rally was not as strong as its July uptick, the market still maintained an overall bullish stance on Dogecoin price. This was the case among the whale cohort, which did not show heavy signs of sell pressure.

CoinGlass data revealed that whale flows in the spot market were bullish. Binance led the charge with $19.25 million fulfilled buys in the spot segment during the weekend. OKX spot had about $5.6 million in filled buy difference and $115,450 on Coinbase.

Derivatives were also in the green on both Binance and OKX, with over $123 million in net buys. This highlighted the cautious approach considering the recent rise in leveraged liquidations.

The leading meme coin also experienced a sizable uptick in dominance by more than 9% last week. This confirmed that it was experiencing healthy attention among the top altcoins.

While still on the subject of dominance, it was worth noting that Bitcoin dominance was back above 60% and rising at the time of observation.

This meant that attention was shifting away from altcoins and back into BTC, meaning potentially weaker liquidity inflows for altcoins, including Dogecoin.

Having said that, DOGE traders should also be on the lookout for potential surprises. This includes the possibility of a flash crash.

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