Dogecoin Futures Reach Record Levels, Analysts Forecast $1 DOGE by 2025.

Large whale transactions and substantial withdrawals from exchanges are signaling growing demand for Dogecoin (DOGE), the leading memecoin by market capitalization.

While AI-driven tokens and parody coins based on stock market trends have recently taken center stage, the market’s attention is shifting back to Dogecoin, with some analysts speculating that it could reach $1 by 2025.

Data from multiple sources indicates a significant increase in whale activity, marked by transactions exceeding $100,000 over the weekend. This surge in activity may indicate the potential for a price rally in the near future. Historically, January has been Dogecoin’s best-performing month, averaging an 85% return. Notable outlier performances include a 250% gain in 2014 and 700% in 2021. The median return for January is 5%, just behind October’s average of 8%.

Futures markets for Dogecoin also reached new highs on Monday, with open interest rising to 10.35 billion DOGE, up from 7.50 billion DOGE over the weekend. This marks a new record, surpassing the 10 billion DOGE level reached in March 2024, according to CoinGlass data. Open interest represents the total number of unsettled contracts and can be an indicator of fresh capital entering the market, signaling potential volatility and confirming price trends.

Rising open interest suggests the possibility of a continued upward trend. CoinDesk market analyst Omkar Godbole anticipates Dogecoin could reach 50 cents in the near future based on recent price-chart signals.

“DOGE has climbed back above the key 50-day simple moving average (SMA), while the 10-day SMA shows signs of a bullish upswing, pointing to a positive trend,” Godbole said. “The discount on Coinbase compared to Binance has also disappeared, making it more likely that DOGE will break the $0.40 resistance and could reach 50 cents and beyond.”

The SMA is a commonly used tool for tracking average prices over time, helping to establish resistance and support levels.

“However, trading volumes on Coinbase remain subdued compared to the levels seen during the November rally, so caution is warranted as long as the $0.40 resistance holds,” he added.

Some analysts are even more bullish, predicting that Dogecoin could reach $1 by 2025, nearly 50% above its all-time high of 70 cents in 2021.

“Dogecoin will finally hit $1, giving it a market cap of $100 billion,” said Alex Thorn, head of research at Galaxy Digital, in his market predictions for 2025. “However, the Department of Government Efficiency, which will enact spending cuts exceeding Dogecoin’s 2025 high market cap, will eventually surpass DOGE’s valuation.”

Dogecoin’s recent rally has largely been fueled by Elon Musk’s ongoing support for the coin, particularly after his endorsement during the Trump administration.

Musk’s plan to create a “Department of Government Efficiency” (D.O.G.E) to streamline government spending has further stoked excitement. This initiative has led to growing expectations that Dogecoin will continue to capture attention in mainstream media and among retail traders, as highlighted by CoinDesk in mid-October.