Cryptocurrencies are seeing a surge in excitement as we inch closer to Trump’s inauguration on January 20th. Expectations of two more rate cuts this year have further set the stage for an extended bull run.

Source: Brave New Coin Bitcoin Liquid Index (BLX)

Amidst the rising optimism, investors are looking to see if Dogecoin will succeed in capitalizing on the positive sentiment to hit the much-anticipated $1 level in 2025. Doge to a Dollar would be a hugely celebrated milestone for the crypto community.

Fortunately, both technical indicators and fundamental analysis suggest DOGE rallying to $1.0 is no longer a fantasy.

Dogecoin is forming a bullish pennant

Dogecoin has more than doubled in valuation since election day (November 6th). But the memecoin is in the midst of forming a pennant pattern on the daily chart that signals it is gearing up for further gains in the weeks ahead, according to crypto analyst Jonathan Carter.

DOGE is at the upper trendline of the pennant at writing – and a breakout could clear the path for its price to run all the way up to $0.65, he argued in a recent post on X.com.

Despite a remarkable rally since early November, the crypto asset’s Relative Strength Index (RSI) also sits well below the overbought levels at writing, indicating the potential for continued momentum to the upside. As evident, technical indicators suggest Dogecoin may not be out of juice just yet.

The Doge chart looks bullish. Source: TradingView

Open interest in DOGE is on the rise

Those interested in holding DOGE until it hits the $1 level should also know that the open interest in this meme coin has seen a material increase in January, as per data from CoinGlass.

Open interest in Dogecoin has surpassed $4.70 billion which translates to well over 13 billion DOGE, indicating investors are betting rather aggressively on a continued rally in this crypto asset.

They seem convinced that Donald Trump will pass orders in favor of the crypto market following his inauguration and that will unlock significant further upside in assets such as XRP, Dogecoin, and Bitcoin.

In fact, just today, the New York Times reported that President Trump is likely to announce a Strategic Bitcoin Reserve on day 1. That would be bullish for Bitcoin, extremely bullish for the Bitcoin price, and for alt coins too.

Source: New York Times

Additionally, the world’s largest crypto exchange, Binance, has rolled out new features that bode well for the overall liquidity surrounding Dogecoin. Traders can now use their DOGE holdings as collateral to get fixed rate loans from Binance.

These recent developments, put together with technical indicators, hint at the possibility of a $1 valuation for Dogecoin in 2025. Doge to a dollar.

Source: CoinGlass

Real-world utility could push Dogecoin to $1

Dogecoin may still be seen as a memecoin only – but it has succeeded in winning real-world utility and developing a strong community over time.

For example, you can now use Dogecoin to tip content creators on platforms like Reddit and YouTube, or to buy tickets and merchandise from the Dallas Mavericks NBA team.

Bitrefill – a Swedish online store even allows users to buy gift cards and top up prepaid mobile phones using DOGE while the so-called memecoin is now accepted as a means of payment at the electronics retailer FASTTech as well.

It’s the real-world, widespread applications that are leading many into believing Dogecoin could eventually command a market cap of well over $100 billion. Alex Thorn of Galaxy Digital, for example, expects this year to be the one when DOGE finally hits $1.0 valuation.

DOGE hitting $1.0 in 2025 looks realistic

In conclusion, expecting Dogecoin to rally to $1 in 2025 sure sounds ambitious, but it’s not entirely out of reach, especially if the current momentum continues.

A bunch of factors are aligning to make that price target appear more realistic, with market dynamics, investors’ sentiment, and broader economic conditions playing a particularly crucial role.

Plus, the influence of social media and celebrity endorsements must not be underestimated. Elon Musk is a famous supporter of DOGE, even going so far as to name a new government saving initiative, DOGE. Let that sink in, Bro.

Source: X

As the regulatory backdrop potentially shifts after Trump’s inauguration, and Dogecoin continues to unlock new use cases, possibly inspiring institutional money to flow into the crypto asset, the price of DOGE may double or even triple from current levels by the end of 2025.