The cryptocurrency faced some stark declines over the holiday season and early into the new year. However, that appears to be lessening its grip on one of the most prominent assets in the industry. Indeed, Dogecoin’s hopes to reach $1 this month may be renewed as DOGE has jumped 10% in a key rebound.
The token finally reversed its ongoing declines that were taking place for much of the last several months. Now, the question is just how high can the leading meme can go before January comes to a close. With several analysts protecting a new bull cycle emerging, it could be on its way to unprecedented heights.
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Dogecoin Has $1 Hopes Restored as It Gets Back on Track
It hasn’t been an exciting start to 2025 for the cryptocurrency market so far. In fact, it has been difficult for many, with crypto liquidation and falling prices abounding. Yet, with the inauguration of US President-elect Donald Trump incoming, things are expected to turn around.
That may have already started for leading meme coin by market cap. Indeed, Dogecoin has jumped 10% in a recent reversal as the DOGE to $1 dream this year remains intact. Currently, analysts have renewed optimism for massive gains to take place in 2025.
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Over the last 30 days, Dogecoin has fallen as much as 12%, according to CoinMarketCap. Yet, its recent rebound has it firmly sustained above the $0.35 level. Moreover, its performance Tuesday has it looking to undo its 1.68% loss that’s taken place over the last seven days.
According to cryptocurrency price prediction platform CoinCodex, Dogecoin is projected to end the month still below its current mark. However, they project that to change over the next several months. Specifically, analysts have projected DOGE to surpass $1.04 as early as March of this year.
That projection has not been as optimistic as some others. Cryptocurrency analyst Javon Marks recently proclaimed DOGE has entered a new bull cycle. Moreover, he projected that, at its peak, Dogecion could surpass the $20 mark. Although that is fairly optimistic, it reinforces the bullish projections that the market is embracing, relating to the leading meme coin.