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Cryptocurrency News Articles
Galaxy Digital Predicts Dogecoin (DOGE) Will Finally Breach $1 This Year and Top a $100 Billion Market Cap
Jan 05, 2025 at 01:00 pm
Every year-end, some of the top crypto analysts and crypto firms reflect on the industry's performance, and look forward to the next year. Traditionally, the top digital assets, like Dogecoin, are subject to market analysis and price predictions.
Cryptocurrency markets have seen a downturn in 2022, with the total value of the digital asset industry decreasing by 64%. Despite the decline, some assets have managed to perform well and show resilience against the bear market. Among these assets is Dogecoin (CRYPTO:DOGE), which has outperformed Bitcoin and Ethereum and offered gains to holders.
As the year comes to an end, top crypto analysts and crypto firms are reflecting on the industry’s performance in 2022 and looking forward to the next year. Traditionally, the top digital assets, like Dogecoin, are subjected to market analysis and price predictions.
Galaxy Digital, a leading blockchain company, has joined the conversations and offered its price prediction for Dogecoin, the market’s leading meme coin.
According to the Galaxy Digital team, Dogecoin is finally set to breach $1 this year and hit a $100 billion market cap. In its Crypto Predictions Report, the team expects that Dogecoin’s potential performance and market cap may be impacted by the new Department of Government Efficiency (D.O.G.E.) operations, which they expect to call for cuts, impacting Dogecoin’s market capitalization.
Dogecoin Price Prediction: Set To Hit $1 Soon?
As part of this year’s wrap-up, Galaxy Digital has published its predictions for top digital assets and the industry in general. In a report published on its official website on December 31, the company offered its team’s take on Bitcoin, Ethereum, stablecoins, and meme coins like Dogecoin.
According to an opinion piece by Alex Thorn of the Galaxy Digital team, they see the world’s top meme coin finally hitting the $1 mark and its market cap finally reaching $100 billion. The target of $100 billion as a market cap is surprising since no other meme coins have achieved this feat. In 2021, Dogecoin surged in price and, for a moment, hit $98.7 billion, but its price immediately retreated.
What To Expect From Dogecoin, According To Galaxy Digital
If Dogecoin’s market cap finally reaches the $100 billion valuation, the token’s price will have hit $0.678, still below its all-time high of $0.739.
If Dogecoin’s price surges to $0.678 to finally hit the $100 billion mark, it means that the price will have jumped by 87%.
However, the Galaxy Digital team believes that $0.678 isn’t the price peak for Dogecoin this year. According to their estimates, Dogecoin will finally surpass its current all-time high and top $1. If this scenario happens, Dogecoin’s market cap will be $147.47 billion, an increase of 176% from its current valuation.
Galaxy Digital Team Also Offers Predictions For BTC, ETH
In the same report, the Galaxy Digital team also offered their insights and price predictions for other digital assets.
According to Thorn, Bitcoin is set to trade past $150k during the year’s first half and may test $185k by the last quarter. Thorn adds that the top digital asset will get support from increasing institutional adoption.
The team expects Ethereum to trade over $5,500, adding that the second-best blockchain will benefit from favorable regulatory conditions for staking and DeFi. Ethereum will also benefit from the growing number of companies that will test their Layer 2 networks using Ethereum’s technology.
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