- Elon Musk leads Doge, triggering the overvoltage of 11% Dogecoin at $ 0.38.
- DOGE could reach $ 14.78 by 2025, driven by bullish models and market development.
On January 20, Donald Trump officially resumption Its role as 47th President of the United States, inaugurating a wave of unexpected developments in the political and technological landscape.
Among them was the appointment of Elon Musk to lead The new government’s efficiency department (DOGE), which immediately drawn the attention of technology enthusiasts and the cryptographic community.
Just a day after its creation, Doge unveiled its official website, with the emblematic DOGECOIN (DOGE) Logo like its emblem.
This has aroused a lot of excitement in the Doge community, propeling the price of Dogecoin by 11% to reach $ 0.38.
Dogecoin’s current price trend
However, this point was short -lived as market volatility followed rapidly, and DOGE was negotiated again at $ 0.3,161 after a drop of 24 hours of 11.27%, according to the last Coinmarketcap update.
That said, Dogecoin has shown certain signs of recovery, displaying a significant increase in the last day.
According to CoinMarketCap, the main same, has continued to maintain its favorite position among investors, confirmed by the current bull season and strong community optimism, with almost 90% expressing confidence in future prices growth.
The analyst predicts the future of Doge
Addition to excitement, renowned cryptography analyst Ali Martinez made a daring forecast, predicting that Dogecoin could potentially achieve an extraordinary increase of 10,000% of prices.
In a recent article on X, Martinez shared a positive analysis of Dogecoin on the basis of historical prices data and declared,
“During the bull cycle 2021, #dogecoin $ Doge skyrocketed more than 10,000% in just 98 days.”
The Crypto analyst suggests that if DOGE can reproduce such a bullish momentum, it could potentially reach $ 14.78 by May 2025.
Source: Ali / X
To what extent is this prediction realistic?
Due to the inflationary structure of the Tokenomics of Doge, 5 billion new parts enter into circulation each year.
Thus, the value of each DOGE faces a constant devaluation.
Therefore, for Dogecoin to reach a price of $ 3.85, it would be require An unprecedented increase in demand to counterbalance the continuous increase in supply.
This means an extraordinary market capitalization of $ 560 billion.
What are technical indicators alluding?
Noticing on the same, a crypto analyst with x user name Kev_capita_ta went to X and noted,
Source: Kevin / X
That said, despite the optimism surrounding Dogecoin, the relative force index (RSI) indicates that the lowering forces currently dominate the market.
However, the expansion Bollinger bands suggest increased prices volatility, referring to a potential change towards bullish momentum.
Consequently, if Doge manages to unravel the level of critical resistance of $ 0.33142, it could open the way to a bull reversal, providing the same to resume the momentum upwards.
Source: Commercial view