Unlike other parts of the market, the OG meme cryptocurrency Dogecoin (DOGE) shows a downward trend at the beginning of 2025. The asset has been declining for the past week, with only slight increases. Nevertheless, the community remains hopeful that the meme coin can reach the coveted $1 mark. Currently, this cryptocurrency is 194% below that milestone. Will this asset soar to $1 in the coming months?
Understanding the current price level of Dogecoin
The current trading price of Dogecoin is $0.3398, down 1.14% in the past 24 hours. However, this meme coin has risen up to 270% over the year. The price of Dogecoin has soared from a low of $0.07497 to a high of $0.4835.
Amid this downward trend, a group of whales has become active in the market. Cryptocurrency researcher Ali Martinez stated that whales are actively accumulating DOGE. The analyst mentioned in an X post that whales purchased an astonishing 1.08 billion DOGE in one day. Notably, this analyst had previously expressed optimism about Dogecoin, estimating that if it maintains its upward parallel channel pattern, the leading meme currency could rise an additional 6,770%.
Will $1 become a reality soon?
According to data from CoinCodex, the OG meme cryptocurrency is indeed expected to reach the $1 mark in 2025. The company revealed that Dogecoin's trading price will range from $0.308355 to $1.109734, with an average annual price of $0.526542 in 2025. Compared to the current rate, this could yield a potential return on investment of 222.96%.
As shown in the figure above, this meme coin is expected to reach this milestone in March. However, the price of Dogecoin will continue to reach $1.10, marking the highest price level that Dogecoin is expected to reach in 2025.