Galaxy Digital’s research arm predicts Dogecoin (DOGE) will take a major step forward in 2025.
In a new thread on social media platform X, Alex Thorn of Galaxy Research predicted this best memecoin DOGE will soar more than 170% from its current value this year and reach a psychological price for the first time in its history.
“Dogecoin will finally hit $1, with the world’s largest and oldest memecoin reaching a market cap of $100 billion.”
DOGE is trading at $0.37 at the time of writing, up 11.7% in the last 24 hours. With a market capitalization of $55.47 billion, DOGE is the seventh largest crypto project.
Meanwhile, Charles Yu of Galaxy Research is predict a decline in market dominance by Tether’s stablecoin USDT like other stablecoins, like that of Circle USDCgain more market share through attractive returns.
“Tether’s long-standing market dominance will fall below 50%, challenged by yield alternatives such as Blackrock’s BUIDL, Ethena’s USDe, and even the USDC rewards paid by Coinbase/Circle. As Tether internalizes USDT reserve yield revenue to fund portfolio investments, marketing spend by stablecoin issuers/protocols to pass on revenue will lure existing users away from Tether and onboard new users to their generating solutions yield.
USDC rewards paid on users’ Coinbase Exchange and Wallet balances will be a powerful hook that will boost the entire DeFi (decentralized finance) sector and can be integrated by fintechs to enable new business models. In response, Tether will begin passing on revenue from held collateral to USDT holders and may even offer a new yield-competitive product like a delta-neutral stablecoin.
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