based on materials from the site - By BitcoinInfoNews.Com
The recent rise of Dogecoin is largely due to statements from Elon Musk and the accumulation of 'whales'. Speculation has begun in the market, although there has been no official confirmation of the target level of $1.
During the rise, significant trading activity was observed: more than 1.14 billion DOGE were in circulation. Community sentiment is speculative and focused on Musk's influence rather than developer news.
Elon Musk influenced the rise to $0.1721
The recent rise to $0.1721 reflects high interest but lacks official support. Meme-based speculation and Musk's political activity play a key role in the current price dynamics.
None of the major financial institutions or governments expressed support for the target level of $1 and made no changes to regulations affecting Dogecoin during this period. Market reaction remains speculative. Analysts forecast Dogecoin's price to rise to $0.33–$0.40 by 2025.
Past spikes in Dogecoin's price, especially the spike on Reddit in 2021, indicate market volatility, but a lack of sustainable long-term growth. Elon Musk's influence often contributes to temporary increases.
Currently, analysts forecast Dogecoin's price to rise to $0.33–$0.40 by the end of 2025. Historical trends indicate speculative bubbles, as whale behavior remains a key catalyst. As noted by Changelly Analyst:
"Dogecoin is expected to reach $0.33 by the end of 2025." Source