{"id":38364,"date":"2025-01-23T13:02:16","date_gmt":"2025-01-23T13:02:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38364"},"modified":"2025-01-23T13:02:16","modified_gmt":"2025-01-23T13:02:16","slug":"could-dogecoin-doge-hit-15-analysts-point-to-this-key-factor","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38364","title":{"rendered":"Could Dogecoin (DOGE) Hit $15? Analysts Point to This Key Factor"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Analysts predict a major surge for Dogecoin, with targets ranging from $2 to $15, driven by historical performance and the potential approval of a DOGE ETF by Bitwise and other firms.<\/span>
\nThe newly established Department of Government Efficiency (D.O.G.E.), led by Elon Musk, briefly boosted the meme coin\u2019s price with one of its recent moves, while industry participants expect additional interactions.<\/p>\n

<\/a><\/span><\/h2>\n

Major Rally on the Horizon?<\/h2>\n

Dogecoin witnessed a significant pump a few days before Donald Trump\u2019s inauguration as America\u2019s 47th President, with its price briefly climbing to as high as $0.43. Most recently, though, it has been on a downtrend and <\/span>currently<\/span> trades at around $0.35 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

Despite the plunge, many analysts believe it has yet to shine during this bull cycle. Some of the optimists include the X users JAVON MARKS and Trader Tardigrade. The former <\/span>envisioned<\/span><\/a> a rise above $2, citing the asset\u2019s historical performance, while the latter <\/span>assumed<\/span><\/a> DOGE could reach $4 in the following months.<\/span><\/p>\n

Ali Martinez also <\/span>chipped in<\/span>, making an even more bullish forecast. He <\/span>believes<\/span><\/a> DOGE could explode to a whopping $15 per coin, <\/span>assuming<\/span> the SEC approves Bitwise\u2019s filing to launch a Dogecoin exchange-traded fund (ETF).<\/span>\u00a0<\/span><\/p>\n

The firm <\/span>submitted<\/span><\/a> its application to the Delaware Department of State\u2019s Division of Corporation on January 22. <\/span>Prior to<\/span> that, REX Advisors and Osprey Funds jointly <\/span>filed<\/span><\/a> to introduce an ETF that includes exposure to the <\/span>biggest<\/span> meme coin.\u00a0<\/span><\/p>\n

While the potential approval of such an investment vehicle <\/span>might <\/span>indeed<\/span> positively <\/span>impact<\/span> the price of DOGE, the depicted target of $15 seems quite unlikely.<\/span> After all, it would push the asset\u2019s market cap to above $2 trillion. Currently, the capitalization of the entire cryptocurrency industry is approximately $3.6 trillion, with DOGE accounting for a little over $50 billion.\u00a0<\/span><\/p>\n

Whales and D.O.G.E.<\/span><\/h2>\n

Earlier this week, Martinez <\/span>revealed<\/span><\/a> that Dogecoin whales bought 590 million tokens (worth over $215 million at the time) in <\/span>the span of<\/span> 24 hours. Those actions <\/span>reduce<\/span> the circulating supply of the meme coin and could lead to a price rally (in case demand doesn\u2019t head south).<\/span><\/p>\n

Another element that could positively influence the valuation is the newly established Department of Government Efficiency (D.O.G.E.). Besides having the same abbreviation as Dogecoin, the entity recently featured the meme coin\u2019s logo on its official website, which <\/span>resulted<\/span><\/a> in a double-digit price spike for the asset.\u00a0<\/span><\/p>\n

Moreover, the division is led by Elon Musk, a firm proponent of the OG meme coin. Many crypto community members expect his involvement in politics to be highly beneficial for DOGE, but only time will tell whether the entity will continue endorsing the token.\u00a0<\/span><\/p>\n

The post Could Dogecoin (DOGE) Hit $15? Analysts Point to This Key Factor<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Analysts predict a major surge for Dogecoin, with targets ranging from $2 to $15, driven by historical performance and the potential approval of a DOGE ETF by Bitwise and other firms. The newly established Department of Government Efficiency (D.O.G.E.), led by Elon Musk, briefly boosted the meme coin\u2019s price with one of its recent […]<\/p>\n","protected":false},"author":0,"featured_media":38365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38364"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38364"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38365"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}