Dogecoin (CRYPTO: DOGE) investors might have anticipated the original humor coin to hit $1 when it surged in 2021, however, DOGE fell short, peaking at just over $0.73 before plunging.
Now, a major cryptocurrency firm, Galaxy Digital, is predicting that DOGE may eventually reach the much anticipated $1 price target by 2025, given that Dogecoin is expected to grow once more in 2025.
The meme coin has already seen significant gains in 2024. At the time of writing, DOGE is trading at nearly $0.39 after a 26% surge in just one week. At the beginning of the year, DOGE was priced at around $0.317, making it the second-biggest gainer among the top 10 cryptocurrencies by market capitalization, trailing only Cardano (CRYPTO: ADA), which surged 33%.
Galaxy Digital’s Head of Research, Alex Thorn, made the prediction in the firm’s “2025 Crypto Predictions” report, released last week. He anticipates DOGE could reach a $100 billion market cap, which would put its price around $0.68, based on the current circulating supply. After reaching that level, Thorn anticipates the coin will continue rising to hit the $1 milestone.
Interestingly, despite this optimistic forecast for DOGE, Thorn also suggested that another “DOGE” might steal the show. This refers to the “Department of Government Efficiency” (DOGE), a new initiative co-led by Tesla (NASDAQ:TSLA) CEO Elon Musk and Vivek Ramaswamy.
The goal of this department is to help President Donald Trump streamline U.S. government agencies and cut budgets. Thorn hinted that this DOGE’s market cap could exceed even Dogecoin’s projected 202
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