News $DOGE: Price Surge Pushes Dogecoin to $0.17 - Is $1 the Next Target?

Dogecoin ($DOGE) has recovered after testing the key support level at $0.14 and is now trading near $0.17. This meme coin has increased by 6.11% in the past 24 hours, signaling a new price uptrend in the market. With a market capitalization of $25 billion and a 24-hour trading volume of $1.56 billion, the price volatility of DOGE is in line with the rising trend of Bitcoin, further boosting the optimistic sentiment of the cryptocurrency market. But does Dogecoin have the potential to reach $1 by 2025? Let's analyze together. The application of Dogecoin and the development of the network Data from Glassnode shows that the growth of the Dogecoin network is accelerating, with the number of new wallet addresses doubling from 16,400 to 34,600 in just one month. This increase in adoption signals growing interest from investors and further price potential.

In addition, data on the IntoTheBlock chain shows a sudden increase in trading volume, reinforcing the prospect of DOGE price increase. Key support and resistance levels According to analyst Ali, DOGE is currently testing a key support level in its long-term uptrend channel. If this support level is held, a recovery towards the upper boundary of the channel is possible. Technical indicators show resistance levels at $0.30 and $0.50 could be the next targets. If the upward price momentum continues, DOGE could head towards the range of $0.90 to $1.00. In an extremely bullish scenario, the extended price targets could reach $1.60, $2.77, or even $6.33. However, if DOGE does not hold the support level, the price could drop to $0.10 or $0.07, with an extremely bearish scenario down to only $0.0067 or even $0.0018.

The aggregation of whales and the benefits of the organization Dogecoin is attracting institutional investors, with companies like Grayscale and Bitwise showing interest in launching ETF DOGE. The participation of these institutions reflects confidence in the long-term potential of this meme currency. Meanwhile, data on the Santiment chain shows that whales have accumulated over 1.4 billion DOGE in recent days, bringing their total holdings to 24.6 billion coins. This accumulation trend indicates strong buying pressure and potential for an upcoming breakout. Will Dogecoin reach $1 by 2025? DOGE continues to form higher highs and higher lows, maintaining a long-term price uptrend. Breaking above the $0.20 resistance level could trigger a new price increase, while staying above $0.14 is still crucial to prevent deeper corrections.

With increasing adoption, whale accumulation, and growing institutional interest, the future of Dogecoin seems promising. If the upward trend continues, DOGE reaching $1 by 2025 could become a reality.