Galaxy Research, the research arm of Galaxy Digital, is predicting big things for Dogecoin (DOGE). They believe the popular memecoin will reach a major milestone – a price of $1 – by 2025.
Dogecoin’s Price Prediction
Analyst Alex Thorn from Galaxy Research forecasts a price increase of over 170% from the current value, pushing DOGE to the coveted $1 mark. This would also give Dogecoin a market cap of $100 billion for the first time. At the time of writing, DOGE is trading around $0.37.
Stablecoin Shakeup Predicted
Meanwhile, another Galaxy Research analyst, Charles Yu, is predicting a shift in the stablecoin market. He expects Tether (USDT) to lose its dominant position as other stablecoins, like USDC, gain traction due to higher yields offered to users. He suggests that initiatives like USDC rewards from Coinbase could significantly impact the market, drawing users away from USDT. Tether might respond by offering its own yield-generating products.
Disclaimer: This is just a prediction, and cryptocurrency investments are inherently risky. Do your own research before investing.
