Dogecoin (DOGE-USD) jumped 21% this week, outperforming rival tokens like Shiba Inu (SHIB) and Pepe (PEPE), as whales snapped up over 1 billion DOGE, worth $413 million, according to Blockchair. This massive accumulation included a staggering $144.9 million transferred from Binance to a private wallet, often a bullish signal of reduced selling pressure. At $0.38 per token, Dogecoin left its competitors trailing in gains, with Shiba Inu rising 7%, Pepe 10%, and Bonk 14%.
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Analysts Predict DOGE Could Reach $1 by 2025
Galaxy Digital’s Alex Thorn boldly predicted that Dogecoin could surge by 170% to hit $1 in 2025, pushing its market cap to $100 billion. In his 2025 Crypto Predictions published on January 2, Thorn stated, “Dogecoin will finally hit $1, with the world’s largest and oldest memecoin touching a $100bn market cap.”
Historical data supports the optimism. January has consistently been Dogecoin’s best-performing month, averaging an 85% return, according Cointelegraph citing data from CryptoRank.
Yield Farming DOGE Gains Momentum
Adding to the excitement, Spirit Blockchain Capital (TSE:SPIR) announced plans to use its Dogecoin holdings for yield farming, a strategy reminiscent of MicroStrategy’s (MSTR) Bitcoin approach. This move could bring new financial products to both retail and institutional investors.
At the time of writing, Dogecoin is sitting at $0.3836.
