Dogecoin News: Will DOGE Follow BTC to Reach $0.90?

Bitcoin (BTC), the world's leading digital asset, reached a new record high of $106,620 on December 15. The recent price hike of Bitcoin has pushed the monthly increase to nearly 15% and the surge since the beginning of the year to about 150%.

DOGE may benefit from the surge in Bitcoin prices As proven in the past, the recent peak of Bitcoin could cause other assets to rise in value. If this trend continues, Dogecoin (DOGE), the leading memecoin, could follow the trajectory of BTC and reach new highs. As of the time of writing this article, the price of DOGE is trading at $0.3993, up 2.19% in the past 24 hours and 5.5% in the past month. Despite the daily and monthly increases, the memecoin has dropped by 8.16% in the last seven days.

Many people believe that the weekly decline in the price of DOGE is due to the increasing inflation in the United States, causing panic among investors. These investors may have grown tired of investing in risky assets like Dogecoin. In November, the cryptocurrency market experienced an extraordinary price surge after Donald Trump's victory in the US presidential election. However, the market has been stagnant recently amid high expectations for the Federal Reserve's meeting. Market experts believe that DOGE and other assets may see another price increase if the Fed takes a dovish stance. The CoinCodex market data tracking platform has predicted that the price of DOGE will consolidate in the coming months. This platform expects DOGE to trade at the current level until at least February 20, 2025. CoinCodex predicts that DOGE will gain momentum by the end of February 2025 to reach $0.90 on March 15, 2025. It is worth noting that a price increase to $0.90 from the current level will result in a price increase of approximately 125%. However, Changelly has made a price prediction for Dogecoin. The platform expects DOGE to reach a low of $0.351 in March 2025. Based on the current price, the target of $0.351 will translate to a decrease of approximately 13.33%. Significant Increase in Dogecoin Whale Transactions Meanwhile, large investors, often referred to as whales, continue to increase DOGE transactions. According to CNF, recently, whales have bought 160 million DOGE, attracting attention and speculation in the cryptocurrency community. Such large transactions indicate that these whales are positioning themselves for potential price fluctuations, especially as the purchases coincide with a 6% decline in the week. Onchain market analyst Ali Martinez emphasized that the activity of this whale is a positive momentum indicator for DOGE. The analyst predicts that DOGE may return to its all-time high of $0.7376, achieved in May 2021. In addition, Martinez boldly forecasts a long-term price target of $3 for Dogecoin. Furthermore, cryptocurrency analyst Trader Tardigrade recently pointed out the price breakout from the symmetrical triangle pattern The formation of this technique is often associated with the upward price trend, predicting that Dogecoin is about to have another price increase. Tardigrade predicts a price target of 8 to 10 dollars for DOGE, reflecting a significant increase for loyal holders. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)