Has Dogecoin's pullback been completed? Will we see a $1 DOGE by 2025?
Dogecoin has indeed experienced a significant pullback recently, dropping nearly 40% in the past week, with prices falling to a low of $0.26. Such volatility is not uncommon in the cryptocurrency market, especially for meme coins like Dogecoin, which often undergo dramatic price fluctuations. According to historical patterns, Dogecoin typically sees a significant rebound after experiencing a substantial pullback. Currently, Dogecoin is fluctuating between $0.3 and $0.32; has the former MEME king lost its momentum? Will we see a $1 Dogecoin by 2025?
From a technical chart perspective, the DOGE daily cycle has shifted from bullish to bearish, with an overall weak trend, currently undergoing high-level consolidation. The hourly moving averages are clustering around the $0.3-$0.35 range in sideways oscillation, awaiting a directional choice in the future market. However, the technical support line indicates that, in the long term, there is potential for another price increase. If the future market breaks above $0.35 and stays above it, we could see a second phase of upward movement.
As the king of MEME coins, the current pullback has not deterred investors' optimistic expectations for the new year. With Trump returning to power in January, the crypto market is expected to witness a strong rebound. After all, the surge during the cryptocurrency bull market coincided with Trump's campaign phase, during which he consistently expressed recognition and support for the crypto market. If Bitcoin can be positioned as a strategic resource plan in the U.S., and other countries follow suit, the crypto market will return to a heated state.
Additionally, there’s the super promoter behind Dogecoin—Elon Musk. The recent pullback in Dogecoin is closely related to Musk being under military investigation. I believe that once Trump officially takes office, Musk will resolve his crisis, marking the beginning of Dogecoin's recovery. Musk not only holds a significant position in the cryptocurrency field but is also providing support for the incoming President Trump’s “Dogecoin Committee.” Musk's backing will be a powerful driving force for Dogecoin's future rise. Even though Dogecoin has already risen over 250% this year, 2025 may bring even more glorious moments.
If you don't know how to filter strong coins, I recommend you check my homepage and follow my public account.