Dogecoin (DOGE) Price Prediction 2025: Will DOGE Finally Break $1?

The 24-hour Dogecoin price action has been highlighted by a range between $0.3049 and $0.3229 as both the bulls and bears work to break into either side.

Dogecoin price analysis shows a bullish structure on the monthly timeframe, hinting at a breakout from an ascending channel. Technical analysis suggests a potential parabolic surge in the coming weeks and months. According to crypto analyst Trader Tardigrade, Dogecoin is forming an ascending channel from the bottom, a critical factor in its 2025 price direction.

After hitting a multi-year high of $0.475 on December 8, Dogecoin has seen a price correction of up to 43%. However, zooming out on the monthly Dogecoin price chart reveals a bullish price pattern.

Trader Tardigrade highlights the ascending channel, which typically signals a bullish breakout when approaching the upper channel boundary. While December saw a rejection after forming a higher high on this channel, the current market dynamics suggest a breakout.

Interestingly, Trader Tardigrade points to a similar formation in late 2020, which preceded the parabolic surge in 2021. Keeping this in mind, Dogecoin may follow a similar path, breaking out of the ascending channel in early 2025 with a massive upward monthly candle.

2025 Outlook: Can DOGE Finally Cross $1?

An intriguing aspect of Trader Tardigrade’s analysis is the timeline, which coincides with Elon Musk’s anticipated role as the official head of DOGE (Department Of Government Efficiency) in January 2025.

Musk, a known supporter of Dogecoin, has significantly influenced its price movements through social media and public endorsements. Trader Tardigrade suggests that Musk’s association with DOGE in 2025 may precede another massive upward candle in January.

Despite its meteoric rise during the 2021 bull market, Dogecoin has not yet achieved the coveted $1 milestone. The closest it came was in May 2021, when its price peaked at $0.7316.

However, among bullish proponents, there is a general consensus that Dogecoin will break above $1 in the coming months. As per Trader Tardigrade’s projection, the massive upward candle could push the Dogecoin price as high as $2.1 in January 2025.

From there, sustained momentum would see Dogecoin breaking past $10 later in 2025. At the time of writing, Dogecoin is trading at $0.311.