Dogecoin is currently regaining momentum and dominating the market. The token is showing signs of a potential breakout, finally surpassing the previous key resistance level. After several price battles, the token has now broken through the $0.20 mark, trading at $0.27 as of the time of writing. What has driven the surge in Dogecoin's price? How high can this token go by 2025? Let's wait and see.
Dogecoin Explosion: What Happened
Dogecoin has long been in a cycle, struggling to break through the $0.20 price point for an extended period. However, with Bitcoin recently soaring to $120,000, Dogecoin has finally broken this predicament, rising to $0.27. This increase is mainly due to Dogecoin's successful breakthrough of the key resistance level at $0.25, which is crucial for its rise. Additionally, the continuous accumulation by whales has driven the price of Dogecoin up by 40%, with whales accumulating 1.08 million Dogecoins in the past 48 hours.
That said, renowned cryptocurrency analyst Ali Martinez shared the prospect that Dogecoin is about to reach two important milestones in the future. According to Ali, Dogecoin currently has $0.33 and $0.40 as the next potential price targets, which could positively change the token's landscape.
"Dogecoin $DOGE is breaking out! As long as the support level at $0.25 holds, $0.33 and $0.40 will become magnets."
Dogecoin 2025 Outlook
According to CoinCodex's prediction, DOGE may soar to around $0.31 in the near future.
Based on our current predictions for Dogecoin's price, it could rise by 21.34%, reaching $0.326983 by July 20, 2026. Our technical indicators show that the current market sentiment is bullish, while the Fear and Greed Index shows a reading of 72 (Greed). Over the past 30 days, Dogecoin's price volatility has been 13.06%, with gains on 19 out of 30 days, reaching a maximum increase of 63%. Given the forecasts for Dogecoin, now is a good time to buy Dogecoin.
However, the altcoin index is currently showing strong signs of gradual increase, reaching 53 points as of the time of writing. If the market continues to favor altcoins, Dogecoin could see better gains before the end of 2025.
