Buckle Up: Analyst Forecasts an Explosive 900% DOGE Surge on the Horizon!

TL;DR

Analyst Ali Martinez highlights previous uptrends, indicating DOGE might surge above $3 within 48 hours, although doubters challenge its viability.
A possible go-ahead for Bitwise’s spot DOGE ETF submission could ignite a significant rally, but investors must recognize that prior ETF approvals have often led to short-lived corrections.

DOGE’s Upcoming Possible Aims

The largest meme currency based on market capitalization has undergone significant price variations since the year’s commencement. At January’s onset, it was priced at approximately $0.31, but less than three weeks later, it surged past $0.40. The short-term peak occurred on January 18, merely two days ahead of Donald Trump’s inauguration, generating extensive buzz within the crypto sphere.

Post the Republican entering office, however, Dogecoin (DOGE) faced a considerable downward trajectory. It plummeted to as low as $0.30 during the crypto market downturn at the beginning of the workweek, while it is currently trading at about $0.32 (according to CoinGecko’s data).

In spite of the volatility, a number of analysts are hopeful that the meme currency is positioned to astonish the community with a major leap this cycle.

Among those endorsing this perspective is well-known X user Ali Martinez. He questioned how individuals could bet against DOGE, asserting that “at any moment” it could soar by an astounding 900% in merely 48 hours. The analyst referenced the asset’s performance at the end of January 2021, when its value increased by substantial percentages in a few days. 

Numerous commentators on the forecast highlighted that such a surge would necessitate DOGE’s market capitalization to escalate to nearly $500 billion. Currently, the token’s market cap is under $50 billion, rendering the prediction quite difficult.

Nevertheless, Martinez asserted that nothing is unachievable, citing XRP’s recovery and indicating that its current market cap surpasses BlackRock’s. Recall that before the US presidential elections at the outset of November 2024, the valuation of Ripple’s native token was less than $30 billion, yet two months later, it exceeded $190 billion. At this moment, the figure is around $178 billion. 

Other influential figures in the industry who have recently shared optimistic forecasts for DOGE consist of JAVON MARKS and Trader Tardigrade. The former predicted the price might soon rise above $2, while the latter believes it could reach $4 in the upcoming months. 

DOGE Enters the ETF Arena

A noteworthy advancement that could catalyze a significant upward movement for Dogecoin is the imminent endorsement of a spot DOGE ETF in the United States. Recently, Bitwise submitted a proposal to the US Securities and Exchange Commission (SEC) seeking to list an exchange-traded fund that tracks the price of the meme currency.

The regulatory body approved the initial batch of spot BTC ETFs roughly a year ago. The firms launching the products included prominent corporations like BlackRock, Fidelity, Grayscale, WisdomTree, and several others.

It is noteworthy that BTC’s value experienced a notable drop shortly after receiving the green light before achieving stability and surging to new heights.

It will be intriguing to observe whether the new leadership of the SEC will approve a spot DOGE ETF and whether this decision will trigger the same “sell the news” phenomenon. As per Polymarket, there exists a 56% likelihood of approval sometime in 2025.