The post Dogecoin To Break The $1 Barrier appeared on BitcoinEthereumNews.com.

According to Galaxy Research, Dogecoin (DOGE) may be on its way to greener pastures and perhaps reach $1 in 2025. The crypto community has been abuzz from this audacious prediction. The potential for a token that began as a joke to reach such a price point is truly remarkable. A Market Cap Of $100 Billion For DOGE If the forecast set by the Galaxy Digital Holdings division becomes true, Dogecoin’s market capitalization will sum up to an estimated figure of $100 billion. DOGE is traded at around $0.31, holding a market cap that is roughly close to $46 billion. This indicates that it has to more than double its value within the next year to meet the projected target. DOGE price action in the last day. Source: CoinMarketCap The $1 estimate is not random. Galaxy Research lists a strong community base and increasing mainstream usage as primary forces behind this possible leap. Doubling its worth, however, is no easy task and will probably rely on the performance of the larger bitcoin market. 23 – Dogecoin will finally hit $1, with the world’s largest and oldest memecoin touching $100bn market cap. However, Dogecoin market cap will be eclipsed by the Department of Government Efficiency, which will identify and successfully enact cuts in amounts exceeding Dogecoin’s… — Galaxy Research (@glxyresearch) December 27, 2024 In Focus: Bitcoin, Ethereum Galaxy Research isn’t alone in being optimistic about Dogecoin. The company sees Bitcoin (BTC) reaching $150,000 by mid-2025, with a chance to reach $185,000 by the end of the year. Ethereum (ETH) is likely to trade above $5,500, the firm added, citing easing regulatory pressures on decentralized finance and staking. Such positive trends in these forecasts are predicated on optimism about higher institutional interest and advancements in technology in the crypto space. If indeed these…

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Filed under: News - @ December 28, 2024 8:18 pm