Dogecoin Gains by 196% with 3 Months What’s going on in 2025?

Dogecoin is one of the cryptocurrencies that has been performing well during 2024. There is telling statistics to support this thesis. For instance, DOGE gained by 196% within the last 3 months. In addition, its value rose by 369.54% during the previous year. Despite being a meme coin, DOGE has generated much return on investment. However, the token’s value dropped by 2.70% during the 24-hour period that stretched into February. At the time of writing, Dogecoin is trading at $0.247 DOGE/USDT on Gate.io exchange. 

The major factor behind Dogecoin’s bullish outlook is a rise in DOGE whale acquisition of the token. For example, Alicharts posted on X that  DOGE whales acquired over 140 million tokens. 

DOGE Whales Continues Buying – x.com/Ali-charts

In this context, the whales own  between 10 and 100 million DOGE tokens. In terms of monetary value, their holdings translate to between $3.7 million and $37 million. This shows that the whales who are buying these tokens have much influence in the crypto market. Notably, the DOGE supply of these whales has been rising sharply over the past weeks. 

Other Factors influencing the DOGE Price

Apart from the whale activity there are other factors at play in pushing the DOGE price up. First, the entire crypto market is almost bullish due to Trump victory sentiment. Some crypto enthusiasts expect Trump to introduce crypto-friendly policies that will benefit all cryptocurrencies. For example bitcoin, ETH, SHIB and other meme coins have benefited much from the current positive market sentiment.  However, at press time,  Shiba Inu, one of Dogecoin’s main competitors lost by 2.08 during the last 24 hours. 

Elon Musk’s long-time support for Dogecoin is helping the token to gain value. For example, Musk’s recent proposal to form “Department of Government Efficiency” (abbreviated as D.O.G.E) has created much hype for the number one ranked meme coin. Due to the existing market sentiment many people have acquired DOGE in the last few weeks. Apart from this, Musk and other leading crypto-influencers have been endorsing DOGE on various social media platforms including X and Reddit. Due to its impressive price performance during 2024 DOGE is now ranked the number 7 cryptocurrency by market capitalization. 

The allure of DOGE has extended to institutional investors. Several institutions have adopted the token, increasing its demand. For example, many trading platforms like Robinhood and Coinbase have added DOGE to their assets. Due to rising institutional interest in the asset there has been a rise in its trading volume. 

Dogecoin Investors Drop the Lawsuit Against Elon Musk

In a related development, the DOGE investors who filed a lawsuit against Musk recently withdrew it. This should inspire Musk to continue promoting DOGE. The group of investors had accused Musk of manipulating the price of DOGE in 2021. Both the investors and Musk filed a stipulation to dismiss the appeal. This move followed Judge Hellerstein’s ruling in August that Musk’s actions did not constitute securities fraud. 

DOGE Price Prediction in 2025 and How to Buy DOGE

As of February, DOGE price prediction showed a bullish outlook. This follows a golden cross that occurred a few days back. A golden cross occurs when a 50-day moving average crosses above a 200-day moving average. This indication is very significant if it takes place on a higher time frame such as 1 week. Once investors notice a golden cross they would buy more of the asset than before. Apart from that, it creates a positive market sentiment that pushes its price up. After the golden cross DOGE rallied, breaking several key resistance levels. For example, it broke above the $0.26 and $0.30 levels. 

At the present time, DOGE is within a consolidation phase. Its price is ranging between $0.36 and $0.40 DOGE/USDT. However, there is a high possibility of a breakdown below the channel since its Relative Strength Index (RSI) has a reading of around 90. Usually, the price of an asset retraces downwards if the RSI has such a reading. If the selling pressure remains high the DOGE price may fall to $0.30 or $0.26. 

However, there is also a chance that the triangle formation may turn out to be bullish. If that happens its price may rise towards $0.90. The following graph shows Dogecoin’s current price position. Currently, many people want to buy DOGE tokens at the bottom but don’t know how to place an order. They can check the specific detailed tutorial on Gate.io’s How to Buy DOGE page. The steps are simple, they can place an order with one click, and buy at the bottom easily.

DOGE Weekly Price Chart –  Gate.io

As seen on the image, DOGE has recently witnessed a go-down price. The Ichimoku cloud is rising while its future cloud is green.  Additionally, the ADX, with a reading of 60 is rising. Its RSI has a reading of 35.95, showing a down market state. Despite these indications its price may fall in the near future.  Based on the existing technical analysis the DOGE price may fall to around $0.344. However, it may still regain its uptrend and trade  between $ 0.339448 and $ 0.374348 by end of the month. It is vital for all DOGE short-term investors to keep an eye on its price movement to notice any signs of a major trend reversal. Most significantly, the general crypto market performance will likely influence its price moves.