Dogecoin, the popular meme coin, has fallen victim to the broader bearish pressure in the crypto market following Donald Trump’s official return to the presidency. Despite high expectations, Dogecoin has seen a significant decline in value, dropping by over 10% today and trading at $0.3400 at the time of reporting. Trump’s own meme coin has suffered even more, plummeting by over 30% in just a single day.
Despite this, market commentators like Ðima James Potts remain optimistic, suggesting that the current market slump is temporary. Potts has pointed to historical price patterns, noting that Dogecoin has experienced extraordinary surges following past U.S. presidential inaugurations. This trend has led Potts to forecast that Dogecoin could see a massive price increase, potentially surpassing $20 during this cycle.
$DOGE $10+ DOGECOIN?! 🚀🚀
— Ðima James Potts (@DimaPotts36) January 19, 2025
This weekly chart of #DOGECOIN shows its performance in the days and weeks following each presidential inauguration (indicated by vertical green lines).
• 1st cycle (2017): Dogecoin increased 30X after the inauguration date.
• 2nd cycle (2021):… pic.twitter.com/3unXeJ8YKu
Historical Trends Indicating Future Growth
A closer look at Dogecoin’s past performance shows significant growth during the last two presidential inaugurations. In 2017, Dogecoin saw a staggering 30x increase in price, and in 2021, the coin surged by an impressive 80x. With Dogecoin currently trading at $0.38 before Trump’s inauguration, Potts believes that a 55x growth—a conservative average from previous cycles—could bring the coin’s price to $20.
Technological Advancements and Institutional Support
Potts is also confident that Dogecoin could outperform its past performance, citing the rapid growth of institutional interest in cryptocurrencies. Notably, market maker Wintermute recently predicted that Dogecoin might secure an ETF this year, which could further fuel the meme coin’s upward momentum.
Also Read: Dogecoin Price Prediction: Fibonacci Tool Signals Potential Surge to $10 – What’s Next for DOGE?
The Path to $10 and Beyond
With Dogecoin’s current price at $0.3400, a rally to $10 would represent a massive 3,116% gain for current holders. Some analysts are even predicting more explosive price movements, with targets as high as $30 or $40. While these predictions are ambitious, they highlight the belief that Dogecoin could replicate its 2017 and 2021 price surges. However, such price movements would require a substantial market cap, a point that critics use to temper expectations.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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