Price Analysis of Currency: $Doge
1. Current and Historical Price:
- Still 69.4% lower than its all-time high ($0.7376 in May 2021).
- Needs to rise by 146.79% to reach $1.
2. Key Resistance Levels:
- Breaking $0.239 may open the door for an ascent to $0.265.
- Surpassing $0.25 and $0.30 is crucial to target $1.
3. Factors Supporting the Rise:
- Market Momentum: Forecasts indicate a potential rise of 17% in June 2025, bringing the price to $0.265.
- Institutional Developments: 21Shares has filed for a DOGE ETF, which could enhance liquidity and institutional adoption.
- Elon Musk's Influence:
- Stepping away from his position at the Government Efficiency Ministry (DOGE) on May 29, 2025.
- Speculations about supporting $DOGE in the new X Money system, which could boost demand.
- Whale Activity: Major entities bought 1 billion $DOGE over the past month.
4. Challenges and Risks:
- Inflation: Unlimited supply may limit long-term gains.
- High Volatility: Sharp price fluctuations could put investors at risk, especially with $$DOGE relying on media hype.
5. Forecast for June 2025:
- Optimistic Scenario: With continued buying pressure and ETF approval, $D$DOGE could see historic moves towards $1.
- Expected Average: Annual price forecast for 2025 at $0.58 (potential return +177%).#ElonMuskDOGEDeparture