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DOGE reached $0.73 in the previous bull cycle.
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The influence of Elon Musk has had a lot to do with the appreciation of this memecoin.
Dogecoin (DOGE), the largest and oldest memecoin in its category, could reach the price of $1 in 2025 according to estimates by Galaxy, an investment fund management firm.
If this goal is achieved, DOGE would exceed a market capitalization of 100 billion dollarsa level that had not been reached until now, the company notes.
DOGE’s relationship with public figures, particularly Elon Musk, has been highlighted as a key factor in its historical valuation.
Each mention by Musk about DOGE has generated significant increases in its price, as NoticiasVE has reported on previous occasions.
So far this year, DOGE has had an increase of 260%. The highest price, in this period, has been 0.46 dollarsalthough it is still 58% away from its all-time high of $0.73, reached in the previous bullish cycle, as seen in the following TradingView chart.
Bitcoin and its influence on DOGE
The behavior of bitcoin (BTC) is a determining element for the future of dogecoin. The leading coin tends to set trends in the digital market, which can benefit other assets like DOGE.
According to the company’s own estimates, The price of the crypto asset could exceed $150,000 in the first half of 2025the asset could trade above $185,000 towards the fourth quarter of the same year.
According to Galaxy, the optimism generated by the rise of bitcoin It usually extends to memecoins and other assets considered high risk.
The speculative nature of DOGE is a major risk factor. Like memecoin, lacks concrete practical utility or solid technological foundations.
Its price depends mainly on external events, such as news, tweets or statements by influential figures.
Curious comparisons and regulatory context
The Galaxy report refers to a curiosity about the Department of Government Efficiency (DOGE), announced by the president-elect of the United States, Donald Trump.
This department, led by Musk, seeks to cut government spending. Although the name of this entity coincides with the acronym dogecoin, It is clarified that it has no direct relationship with cryptocurrency.
“Dogecoin’s market cap will be eclipsed by the Department of Government Efficiency, which will successfully identify and implement haircuts in amounts that exceed Dogecoin’s maximum market cap by 2025,” notes Galaxy.
This implies that the savings achieved by the government through efficiency will exceed in value the total dogecoin market capitalization at its highest point that year. It is a humorous or ironic comparison that highlights the magnitude of spending cuts or the volatility and potential value of dogecoin.
Dogecoin is in the spotlight due to Galaxy projections, which suggest significant growth for oldest memecoin.
However, it is remembered that its volatility and dependence on external factors represent risks for investors. The relationship between DOGE, public figures and the performance of bitcoin will continue to be decisive in its future.