In what has been a rather surprising reversal for the asset class, Dogecoin has seen its recent 19% drop continue, as traders are pondering if DOGE can still target $1 in 2025. The leading meme coin has been down alongside the greater market, with the holiday season leading to a plethora of corrections.
However, that does not deter what are high hopes many have for the asset class heading into the new year. Indeed, with US President-elect Donald Trump set to be inaugurated in January, it is likely to set off a positive performance throughout the cryptocurrency market. There is reason to believe that Dogecoin could be among the best-performing tokens.
Also Read: Dogecoin: New Price Prediction Claims Doge To Surge 570% And Hit $2.28
DOGE to $1 Dream Still Alive? Why Dogecoin Shouldn’t be Deterred by Recent Slide
The holiday season has come with a host of struggles for cryptocurrency holders. Several assets have fallen, with millions liquidated within the market the week before Christmas. However, that hasn’t taken much away from what has been a monumental year for the asset class.
Moreover, it shouldn’t let excitement wane from what should be an even bigger year ahead. Although traders have shown their concern, there is reason to believe the recent slide won’t carry onto what could be on the horizon. One of the prime examples of this potential increase is Dogecoin, as its persisting 19% drop is unlikely to deter DOGE from its $1 dream for 2025.
Also Read: Dogecoin (DOGE) Predicted to Rebound From December Fall: Here’s When
Any way you slice it, Dogecoin has struggled mightily throughout December. Over the last 30 days, DOGE has fallen more than 19.1%, according to CoinMarketCap. That extends to the last week, where it is down more than 3.6%. Even the last 24 hours have seen the leading meme coin fall 4.9% to its current $0.313 price.
However, there is still reason to be optimistic. The primary reason is the essential growth drive for Dogecoin’s price in the past: Elon Musk. The Tesla CEO is the head of incoming president Donald Trump’s DOGE Commission. An agency created to target government funding, it shares the name of the cryptocurrency that has often been highly regarded by the ‘Dogefather’ himself.
The Musk effect will always be a real phenomenon for Doecoin. Yet, it should yield unprecedented results in the coming year. Despite being up 250% this year, 2025 could be even better. Crypto price prediction platform CoinCodex projects DOGE to reach a yearly high as early as March. Specifically, they note the meme coin could reach a price nearing $1.1, up 245% from its current position.
