How High Can Dogecoin Price Go?

Dogecoin (DOGE) has surged an additional 27% this week, hitting a new high for the year at $0.48 on November 23. The meme coin's monthly increase stands at 236% and remains the third most traded cryptocurrency asset by 24-hour trading volume, totaling $19.5 billion.

As the market predicts that the all-time high (ATH) will be retested at $0.73 in the coming days, many analysts have mentioned higher targets by 2025. Dogecoin reaching $1 is inevitable Dogecoin has demonstrated a strong breakout above the recent high of $0.43 on the 4-hour chart, with the relative strength index (RSI) and 50-day exponential moving average (EMA) acting as support in the consolidation process reaching higher levels.

With a confirmed move above the previous high, Javon Marks, an independent analyst, said the additional 52.2% increase "may be underway". Marks emphasizes that the current target range for Dogecoin is between $0.65 and $1.25. Similarly, Trader Tardigrade, a pattern analyst, said in a post on X that a $1 target is "unavoidable" for memecoins. The trader has observed the formation of a tight flag pattern and commented, 'High Tight Flag' pattern stands out as a rare but highly bullish signal, indicating a strong likelihood of significant price increase. Dogecoin at $3 coincides with the Fibonacci target. While the target is expected to be $1 in the coming days, the upward move of $0.73 opens up the possibility of achieving a higher target in Q1 2025. On the monthly chart, Dogecoin has followed a repeating target trend based on Fibonacci lines. Since 2014, the peak and trough of each market price increase cycle accurately predict the peak of the next cycle based on Fibonacci 1.50 and 1.618 extensions.

The expected target has exceeded 732% in 2021 compared to 2018. With the new record high that can be achieved, the expected target by 2024 based on FIB expansion ranges from $2.90 to $3.60. Previously, Cointelegraph also reported on the high price target for Dogecoin based on the Gauss principle, specifying a price range of 3 to 5 dollars after factoring in the diminishing profit law. The similar target range is established by a series of different analyses, reinforcing the possibility of DOGE reaching at least $3, an increase of 566% compared to the current price. Can the price of DOGE increase to $30? Most price targets for Dogecoin in 2025 are based on its historical performance. Similarly, Dima James Potts, an independent cryptocurrency trader, has set a very high target for DOGE to surpass $10. James Potts illustrated a repeating pattern of Dogecoin, in which the cycle reaches its peak after about 1446 days.

Each cycle has outperformed the previous high, as mentioned above. Therefore, Potts also expects a similar result in 2025. The trader mentioned, "The peak could happen around January 19, 2025. I believe this cycle will bring some of the biggest gains for DOGECOIN ever, as the percentage increase rate of each previous cycle has increased." The chart marks $36 as the price target for Dogecoin, which is 80 times higher than the current price. In terms of market capitalization, it will be around ~5.3 trillion dollars. To put it into perspective, the total market capitalization of cryptocurrencies is 3.5 trillion dollars. Therefore, it can be said that the price target of $30+ for Dogecoin on January 19, 2025 is impossible.