Dogecoin is among the many main crypto belongings that fanatics have excessive hopes for within the 2025 bull market.
That is largely resulting from its distinctive place as the unique meme coin and its historic efficiency in two earlier bull seasons. Furthermore, Dogecoin advantages from influential backing by the world’s richest man, Elon Musk. These components proceed to gasoline bullish sentiment round Dogecoin.
On this article, The Crypto Fundamental explores the potential value of Dogecoin on this market cycle, assuming it replicates its efficiency following the 2020 Bitcoin halving.
Dogecoin Historic Efficiency Put up-Bitcoin Halving
Notably, the 2020 Bitcoin halving occurred on Might 11, 2020. On that day, Dogecoin was buying and selling with two main zeros at $0.002406. On the time, Bitcoin itself was buying and selling at $8,374.
Bitcoin’s value regularly improved over the next weeks, surpassing $11K by August 2020. It consolidated round this value till the final quarter of the yr, when a breakout occurred. By December 31, 2020, Bitcoin had reached $29,300 and later broke into the $30K vary by January 2021.
Bitcoin would go on to double in value in lower than three months, reaching over $61K by April 2021. A serious bearish correction adopted, inflicting the worth to dip to $29K by July 2021. Nevertheless, Bitcoin’s uptrend resumed, reaching an all-time excessive for the cycle at $69K in November 2021.
Dogecoin largely mirrored Bitcoin’s path. It first noticed a gradual uptrend after Bitcoin’s halving in 2020. By This autumn 2020, Dogecoin noticed a significant breakout just like Bitcoin, rising dramatically from round $0.0025 to $0.0047. By the primary week of 2021, Dogecoin had eliminated a zero, buying and selling at $0.01387.
This marked a powerful 470% acquire from Dogecoin’s value on the day of the halving. Dogecoin’s bullish momentum didn’t cool off considerably, persevering with all through the primary quarter of 2021.
By Q2 2021, Dogecoin eliminated one other zero, producing additional curiosity within the meme coin. It will definitely reached an all-time excessive of $0.7376 in Might 2021.
From its halving-day low of $0.002416 to its all-time excessive of $0.7376, Dogecoin’s value rose by 30,429%. This translated into an unimaginable 304X return for Dogecoin holders.
What If Dogecoin Repeats This Efficiency?
Now, the query arises: can Dogecoin replicate one other 30,429% acquire on this cycle? Notably, Dogecoin traded at a low of $0.1563 when Bitcoin’s community reward halved in April 2024.
With Dogecoin at present buying and selling at $0.3336, it has already surged by 113% from that low. Contemplating its highest value of $0.485 since that halving, the features have been over 210%.
If Dogecoin had been to repeat its earlier 30,429% acquire from its halving low of $0.1563, its value would attain $48. Apparently, quite a few analysts have speculated about this risk.
Nevertheless, this value level would elevate Dogecoin’s market cap past $7 trillion, a extremely speculative state of affairs. Such a excessive valuation would restrict the probability of this consequence.
