by Sana Bukhari
Dogecoin price hit its all-time high of $0.73 in May 2021. Many investors wonder if DOGE will break its existing price record during 2025.During the late part of 2024 Dogecoin witnessed terrific gains from US election hype.
Despite its strong rally in 2021 the meme coin faced a major drop related to falling interest in meme coins plus wider economic issues including tariffs. Traders want to know whether DOGE can recover its previous record high by next year as it remains weak on the current market trend.
Over the past day Dogecoin achieved a 5% price rise and now trades at $0.203 on the market. Despite daily market swings investors need real market conditions to see how the coin will perform over time.
Dogecoin’s Price Surge and Elon Musk’s Influence
Dogecoin’s highest price record in the past occurred when people hailed Elon Musk’s support and spread the news widely across social media. When X accepts DOGE payments Elon Musk introduced the meme coin performed its 2021 surge.
Cardano founder Charles Hoskinson indicated that he will help Elon Musk create DOGE payment systems but also pledged to assist the project in future upgrades. Hoskinson believes that enhanced Dogecoin blockchain features would supply the technology needed to run Grok 3 and other AI models. The successful implementation of these developments will strongly push Dogecoin towards a significant price increase in 2025.
Institutional investors have led to DOGE getting stronger in the crypto industry. In January 2024 Grayscale introduced the Dogecoin Trust to make the asset more accepted within the banking sector. The trust has attracted $1.8 million to manage because investors trust Dogecoin as an investment platform.
Grayscale’s Dogecoin ETF And Market Growth Potential
Grayscale wants to launch a new Dogecoin ETF through its latest application. SEC authorities will determine whether a spot Dogecoin Exchange-Traded Fund can trade publicly by October 2025. Approval for a spot Dogecoin ETF will generate more institutional money and mainstream users which will improve DOGE’s market value.
The weekly market data shows Dogecoin forming a typical bull cup-and-handle trend that normally leads to strong price increases. When Doge reaches and surpasses $0.28 market resistance, it will demonstrate an upward price reversal. A successful resistance level surmount at $0.54 might push Dogecoin toward retesting its former high price in 2021 at $0.73.
The Awesome Oscillator indicator displays an easing bearish force, which indicates that a future price recovery is likely. According to ADX data, low downward pressure makes the market trend more favorable for an upward breakout.
The signs of institutional buying power and X adoption favor a DOGE price increase, but strong demand will be needed to allow the coin to reach its highest market value again by 2025. Market participants observe ongoing developments to anticipate possible growth in the Dogecoin price.
#blockchain #crypto, #decentralized, #distributed, #ledger
This news is republished from another source. You can check the original article here