Dogecoin to a Dollar? Galaxy Predicts Meme Milestone as DOGE Continues Surge

Dogecoin investors famously called for the original meme coin to surge to the price of $1 back when it skyrocketed in price in 2021, but DOGE fell short then, topping out just above $0.73 before plummeting.

But now with Dogecoin back on the rise and surging in the new year, notable crypto firm Galaxy Digital is calling for DOGE to reach that meme milestone in 2025.

DOGE is still far away from that potential benchmark, but it came close to the $0.40 mark earlier Monday, currently priced at nearly $0.39 after spiking by 26% in the last week. It started the year at a price of about $0.317, but has been the second-biggest gainer among the top 10 cryptocurrencies by market cap, trailing only Cardano (ADA) with a 33% gain.

Galaxy projected the long-anticipated $1 price point in its "2025 Crypto Predictions" report published late last week, with the call made by the firm's Head of Research, Alex Thorn. He expects a $100 billion market cap for DOGE, which would happen at a price of nearly $0.68 based on the current circulating supply, followed by a continued rise to the milestone price.

But Thorn believe that this DOGE will be overshadowed by another—the Department of Government Efficiency (DOGE), co-led by Elon Musk and Vivek Ramaswamy, which aims to help President-elect Donald Trump streamline government agencies and slash budgets.

"The Dogecoin market cap will be eclipsed by the Department of Government Efficiency, which will identify and successfully enact cuts in amounts exceeding Dogecoin’s 2025 high-water mark market cap," Thorn wrote.

In December, Dogecoin blasted as high as $0.48, marking a three-year peak for the meme coin. DOGE is up about 1.5% on the day, per data from CoinGecko, while Bitcoin has jumped 4% to a current price of $102,162. It rose as high as $102,482 earlier Monday morning, topping $100,000 for the first time in 2025.