As the First Meme Coin, Dogecoin (DOGE) Has Become One of the Most Erratic Assets in the Crypto Market

As the first meme coin, Dogecoin (DOGE) has become one of the most erratic assets in the crypto market. Although its origins were rather unremarkable

As the first meme coin, Dogecoin (DOGE) has become one of the most erratic assets in the crypto market. Despite its rather unremarkable origins, DOGE now stands as one of the most powerful currencies, thanks to its adoption by the community and big brands. As such, experts claim that indications suggest Dogecoin is about to rally again and could reach $1.50 in 2025. The technical indicators and investor interest suggest that the meme token is on the verge of a significant breakout.

Rallying Fundamentals & Sentiment: Bullish Trends May Spark the Breakthrough

An active crypto analyst, EWT, reviewed Dogecoin’s performance and relayed that he expects a rally in the dog-themed coin to as much as $8.5 this cycle. This expectation stems from the daily chart of Dogecoin, which suggests that the meme token is completing a 1-2 subway setup. EWT comments that this pattern is a robust bullish flag, increasing the possibility of a rally up to $6. If Dogecoin does reach $6, further analysis suggests a correction to $1.20 is likely before continuing the advance towards the target of $8.5. The possibility of DOGE exceeding this target and breaching into double digits remains plausible. Though these predictions are optimistic, a more cautious perspective suggests that $1.50 will be a realistic target for Dogecoin in 2025, which aligns with past rally patterns.

Both the approval of Ethereum and Bitcoin ETFs have led to speculation on the possibility of Dogecoin ETFs. Recently, there has been talk regarding the approval of a Dogecoin ETF and the subsequent benefits that would accompany it. Bloomberg has reported a 75% likelihood of a Dogecoin fund coming into existence, further boosting demand for the currency. In addition, with the rise of Grayscale’s Dogecoin Trust, institutional investors seem to be adopting Dogecoin. This clearly shows that the demand for Dogecoin is growing, and if an ETF is released, the price may rise to $1.50 shortly, which is a considerably low estimate.

If the price of Dogecoin soars to $1.50 by 2025, it will mark a 9,400% increase from its initial price of $0.015 in 2013.

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Despite its playful origins, Dogecoin has become a subject of serious analysis by crypto experts. An active analyst, known as EWT on X (formerly Twitter), recently pointed out a technical indicator that suggests Dogecoin could rally to as much as $8.5. This prediction is based on the daily chart of Dogecoin, which, according to EWT, suggests that the meme token is completing a 1-2 subway setup.

EWT further explains that this pattern is a strong bullish flag, increasing the likelihood of a rally up to $6. However, if Dogecoin reaches $6, his analysis suggests a pullback to $1.20 is likely before continuing the advance towards the Fib target of $8.5. There is also the possibility of DOGE exceeding this target and breaking into double digits.

However, a more realistic perspective, considering previous rally patterns, suggests that $1.50 would be a valid target for Dogecoin in 2025.

While the meme coin has been a subject of much speculation, the recent buzz surrounding the approval of both Ethereum and Bitcoin ETFs has led to speculation on the possibility of Dogecoin ETFs.

Recently, there has been talk regarding the approval of a Dogecoin ETF and the benefits that would accompany it. According to Bloomberg, there is a 75% chance of a Dogecoin fund being approved, which would further boost demand for the currency.

Moreover, with the launch of Grayscale's Dogecoin Trust, it seems that institutional investors are also interested in adopting Dogecoin. This would logically increase demand for the token.

If an ETF is approved and major institutions begin investing in it, it may contribute to a rise in the price of Dogecoin. In the case of the ETF being approved and if we consider the fact that the price of the meme coin is currently being traded at $0.70, we may see a price increase to $1.50 in a short period of time, which is a rather low valuation.

Besides speculation, Dogecoin’s increasing real-world use cases could be another key driver of its price. More businesses are integrating the token into their payment systems, with major companies like Tesla and the Dallas Mavericks accepting DOGE. Increased adoption could increase demand for the token significantly and, consequently, its market cap.

Moreover, scalability and transaction speed improvements are underway within the Dogecoin blockchain, making