Dogecoin is back trading above $0.18, climbing higher after rebounding off a recent higher low. The recovery comes on the back of a new wave of optimism in the cryptocurrency market over the past 24 hours, starting with Bitcoin crossing above $90,000 within this timeframe.
According to a prediction from crypto analyst Javon Marks, Dogecoin has the potential to reach $1.25+ in 2025 due to a strengthening bullish narrative on the 5-day candlestick timeframe chart.
Javon Marks Revises Dogecoin Target To $1.25 Following Fresh Breakout Signals
Crypto analyst Javon Marks, in an update to his ongoing Dogecoin thread on X, stated that the current trend continuation could now push beyond his previously established target of $0.6533. His outlook is based on the meme coin’s price action on the 5-day candlestick timeframe chart and cuts across movements over a multi-year timeframe.
According to Marks, a push to $0.6533 is still in play for Dogecoin and may serve as a checkpoint on the way to a significantly higher price level. Drawing from Dogecoin’s historical performance, Marks noted that the last time Dogecoin broke out from a higher low base, which occurred in August 2024, it went on to rally by more than 500%. A similar pattern is currently unfolding.
The chart posted by Marks shows Dogecoin maintaining its bullish market structure on the larger timeframe despite the price downtrend since December 2024. This downtrend saw the DOGE price fall from $0.48 until it bottomed at $0.1316 on April 7. Notably, the ensuing price action after this price low has seen Dogecoin create two bullish candlesticks on the 5-day timeframe. This, in turn, has confirmed $0.1316 as a higher low on the larger timeframe, with the next move likely to be a bounce to a new higher high similar to previous playouts. Javon Marks noted that with the bounce already showing strength, the path to $0.6533 is increasingly likely.
The projected move to $0.6533 would represent a 279% increase from current levels. However, the analyst also outlined a secondary target at $1.25, which he noted is within reach if the bullish formation plays out fully.
Can DOGE Realistically Reach $1.25 In 2025?
Dogecoin started the year on a strong note, with many enthusiasts anticipating a push above $1 before the end of the year. However, the way its price movement has played out has seen its price now stuck under $0.2, and places this level as the immediate target to close above.
Breaking above Javon Marks’ target of $0.6533 and subsequently $1.5 would see Dogecoin trading at new all-time highs. According to crypto exchange Changelly, DOGE has the potential to reach a maximum price of $0.3 in 2025 based on the current buying momentum. Consequently, reaching $1.25 will depend on several factors in the wider crypto market, most notably a wave of buying interest and Bitcoin’s price performance.
At the time of writing, Dogecoin is trading at $0.1828, up by 11.65% in the past 24 hours.
Featured image from iStock, chart from Tradingview.com
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