Galaxy Research, an offshoot of Galaxy Digital Holdings has released its optimistic forecast for Dogecoin (DOGE) for the coming year. This DOGE forecast comes as part of 23 major predictions for the digital currency ecosystem in 2025. The Galaxy Research forecast also touched on Bitcoin, Ethereum and other key crypto events.
The Galaxy Research Bold Call for Dogecoin
According to the firm, the top memecoin may finally fulfill its ambitions and skyrocket to $1 by next year. The research firm said it informed Galaxy Digital’s clients that the DOGE market capitalization will hit $100 billion next year.
For reference, Dogecoin price was pegged at $0.3133 at the time of writing with a market capitalization of $46.25 billion. While the coin has key fundamentals like sustained DOGE whale accumulations, the price will have to grow by more than 100% to hit this mark.
This growth rate is not uncommon for Dogecoin, however, the crypto ecosystem now have competing memecoins with higher risk-reward ratio. To Galaxy Research, the correlation with Elon Musk’s Department of Government Efficiency (D.O.G.E) will impact the memecoin’s valuation.
23 – Dogecoin will finally hit $1, with the world’s largest and oldest memecoin touching $100bn market cap.
However, Dogecoin market cap will be eclipsed by the Department of Government Efficiency, which will identify and successfully enact cuts in amounts exceeding Dogecoin’s…
— Galaxy Research (@glxyresearch) December 27, 2024
Besides Dogecoin, the research firm also projected a $150,000 price top for Bitcoin in Q1 2025. Per the projections, the flagship coin will jump as high as $185,000 by the fourth quarter.
This predictions are conservative compared to the $350,000 Bitcoin price forecast recently issued by “Rich Dad Poor Dad” Author Roberts Kiyosaki.
Fate of the Broader Crypto Market
From Galaxy Research’s lens, Dogecoin is not the only asset that will benefit from the impending market boom in 2025. After the spot Bitcoin ETF market crossed the $100 billion Assets Under Management (AUM) milestone this month, Galaxy predicted a $250 billion record in 2025.
Ethereum also secured a bullish projection from the research firm. The firm said Ether will trade above $5,500 in 2025. Thus far in this bull market cycle, Ethereum has failed to jump above the $4,000 price mark. In addition, the firm said Ethereum staking rate will exceed 50%.
According to Galaxy Research, at least one big asset management firm will allocate over 2% of its AuM to buy Bitcoin. Other aspects of the market including Ethereum Layer-2 scaling solutions, and Decentralized Finance (DeFi) among others will also see massive shifts in the coming year.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: