Will DOGE Hit $1 in 2025? Galaxy Digital Thinks So

Dogecoin price is up over 22% in the last seven days. Galaxy Digital predicts that DOGE will reach $1 in 2025.

The price of Dogecoin has seen a recent surge, capturing the attention of traders. The meme cryptocurrency is currently priced at around $0.3906, having experienced a rise of over 22.7% in the last week.

This performance has placed DOGE among the top gainers in the crypto market. As of Monday morning, the token experienced a 7.3% increase in the last 24 hours alone.

The recent price action has sparked optimism among some that Dogecoin could be poised for a potential breakout to higher levels.

Galaxy Digital predicts that DOGE will reach $1 in 2025

In its recent “2025 Crypto Predictions” report, Galaxy Digital’s Head of Research, Alex Thorn, included a bold prediction for Dogecoin.

According to Thorn, the meme-inspired crypto is set to finally hit the long-awaited price target of $1 for the first time ever in 2025.

He projects a $100 billion market cap for the token, which would occur at a price of around $0.68, based on current circulating supply.

Such a valuation would be unprecedented for DOGE, whose market cap peaked at $98.5 billion during the 2021 bull rally.

Moreover, the token would need to spike a staggering 86% to reach 68 cents. However, Galaxy Research believes that DOGE will not peak there.

According to Thorn, the meme coin will blast above its current lifetime high this year and finally hit $1 for the first time.

Topping the one-dollar price would mean DOGE’s market valuation hits nearly $150 billion — representing a 175% rise from the current valuation.

But Thorn believes that this DOGE will be overshadowed by another — the Department of Government Efficiency (D.O.G.E.).

Co-led by Elon Musk and Vivek Ramaswamy, D.O.G.E. will be tasked with helping U.S. President-elect Donald Trump slash costs across the entire federal government, in an attempt to reduce wasteful spending and pay down the country’s ballooning debt.

Apart from being humorously tied to Dogecoin’s ticker, D.O.G.E. has absolutely nothing to do with the meme crypto.

“The Dogecoin market cap will be eclipsed by the Department of Government Efficiency, which will identify and successfully enact cuts in amounts exceeding Dogecoin’s 2025 high-water mark market cap,” Thorn wrote.

DOGE Whales Accumulate

In related news, Dogecoin has witnessed renewed interest from whales.

On Jan. 3, over 1.08 billion DOGE, worth approximately $412 million, was purchased by whales.

More recently, widely-followed analyst Ali Martinez said in a Jan. 6 X post that whales had snapped up 140 million DOGE over the past 24-hour period.

These actions indicate growing confidence among wealthy investors in the meme coin’s upward trajectory.

That said, the Dogecoin price could benefit from whale accumulation to push it over the $1 psychological barrier.