The Dogecoin (DOGE) market experienced several hurdles after its latest rally. The asset hit a high of $0.4775 earlier this month, leading the community to bet on DOGE reaching $0.50 or higher. But now Dogecoin was taking a back seat. The foundation behind the meme coin could be trying to increase the price of the asset.
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The Dogecoin Foundation is looking for donors, here’s why
To expand the community through network development, the Dogecoin Foundation requested an undisclosed sum. According to the Dogecoin Foundation’s post The funds would be used to develop Dogebox. It is a decentralized payment system designed to empower small and medium-sized businesses.
The Dogecoin Foundation said,
“Looking ahead to 2025, the Dogecoin Foundation seeks to continue the open source work we have been doing, notably through the new decentralized infrastructure system Dogebox (http://dogebox.dogecoin.org) which is the culmination of the development of many projects, and the vehicle we are considering to onboard the first million core retailers to accept Dogecoin as a direct payment tier.“
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Price prediction
At press time, DOGE was trading at $0.4075 after a 4.40% decline over the past 24 hours. The asset is currently trading 44% below its all-time high of $0.7376. To reach $1, the OG meme coin must rise by 145%.
It appears that DOGE investors would not have to wait too long before celebrating the $1 milestone. According to data from CoinCodex, Dogecoin is expected to fluctuate between a price range of $0.3377448 to $1.105322 in 2025. The OG meme coin is expected to trade at $0.597832 on average throughout the year. Given that the currency is expected to trade 171.22% higher than it currently is, February could be the most bullish month for DOGE.
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