Author
Steve Muchoki
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
Key Notes
- The expected launch of X Money in 2025 will have a profound impact on the Dogecoin meme coin amid the unwavering support from Elon Musk.
- Dogecoin whales have been accumulating more coins in preparation for a fresh bull run in the near term.
As the cryptocurrency market opened in 2025 with a mild bullish outlook led by Bitcoin BTC $100 179 24h volatility: 3.8% Market cap: $1.98 T Vol. 24h: $53.41 B price, the attention on Dogecoin DOGE $0.39 24h volatility: 8.4% Market cap: $57.00 B Vol. 24h: $4.31 B , the oldest and largest meme coin, continued to rise. According to the latest crypto oracles, Dogecoin price gained over 6% in the past 24 hours to trade about 33% on Thursday, January 2, 2025, during the mid-London session.
The large-cap meme coin, with a fully diluted valuation of about $49 billion and a 24-hour average traded volume of around $2.6 billion, is on the cusp of entering the parabolic phase of the 2024/2025 crypto bull run. Following the re-election of pro-crypto President-elect Donald Trump in the United States, Dogecoin price has heightened its bullish momentum.
However, Dogecoin price has been trapped in a midterm correction mode since hitting a resistance level of around 48 cents in December. In the daily time frame, DOGE price has consistently closed below the 50 Moving Average (MA).
After a more than 40% drop in the last four weeks, DOGE price has retested a crucial support level of around 26 cents, which coincides with the 0.618 daily Fibonacci level. As a result, it is safe to assume that DOGE price is preparing for the next major bull run toward a new all-time high in the near term.
$DOGE #DOGEUSDT #Dogecoin | #Altcoins
✴️ Dogecoin: 2025, Sudden Rise To New All-Time HighHow is you, how is you feeling my friend today?
Don't Dogecoin looking ready incoming bullish wave?
Great. They is using royal English today!I bring you Dogecoin today on a tough spot.… pic.twitter.com/z8zQ2o4OLX
— Alan Santana (@lamatrades1111) January 2, 2025
Dogecoin Network Enjoys Robust Fundamentals
Backed by tech billionaire Elon Musk, Dogecoin has attracted the attention of more whale traders in the recent past. Furthermore, the Dogecoin network offers crypto miners a higher daily profitability of about $2.64 per day for 1 GHash/s, compared to other proof-of-work (PoW) secured chains.
According to the latest on-chain data analysis from Bitinfocharts, the top 100 richest Dogecoin holders control about 95.3 billion DOGE coins, which represent around 65% of the total supply. After distributing the profits in the past few weeks, Dogecoin whales, with a balance of between 100 million and 1 billion coins, added over 300 million coins to currently hold about 23.5 billion tokens.
Meanwhile, the Dogecoin community has been waiting for the X platform to integrate the meme coin for payments. According to Linda Yaccarino, the CEO of the X platform, the highly anticipated X Money will be launched in 2025 alongside other products led by X TV.
The launch of X Money, which will potentially integrate with Dogecoin, will give the meme coin more real-world utility, which is extremely bullish in the long haul. Furthermore, the meme coin industry, which currently has a market valuation of about $115 billion and a 24-hour average trading volume of around $14 billion, is expected to lead in the ongoing macro bull run.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Editor-in-Chief
Julia Sakovich
