Artificial intelligence and stock - market - mimicking tokens may have been all the rage in recent weeks, but big players are highly active in the Dogecoin (DOGE) market, with some aiming for the token to reach the $1 level in 2025.

Data from multiple sources shows an increased interest from whales (wealthy and influential market participants), with weekend trading volumes exceeding $100,000. Such activity could be a precursor to a price increase.

Data indicates that January has been the month with the best performance for memecoins, with an average return of 85%, although the exceptional performances in 2014 and 2021 were 250% and 700% respectively. Its average performance stands at 5%, ranking second only to October's 8%.

Dogecoin futures have set a new record, and analysts aim for the Dogecoin price to reach $1 in 2025.
The futures market tracking the token set a new record for open interest on Monday, with the number of active contracts surging from 7.5 billion DOGE over the weekend to 10.35 billion DOGE. Data from CoinGlass shows that this has exceeded the peak of 10 billion DOGE in March 2024.

Open interest is the total number of outstanding derivative contracts. An increase in open interest may signal new funds entering the market, potentially confirming the current price trend and foretelling upcoming volatility.

A high open - interest volume may suggest that the trend will remain strong. Based on price chart analysis, Omkar Godbole, a market analyst at CoinDesk, anticipates that the price will reach 50 cents in the coming weeks.

Godbole said, "DOGE has rebounded above the closely - watched 50 - day simple moving average (A). At the same time, the 10 - day simple moving average has risen again, indicating a bullish trend. In addition, the discount of Coinbase compared to Binance has disappeared. This suggests that there is a high probability that the price will break through the current three - day resistance level of $0.40 and may be pushed to 50 cents or even higher."

A, the simple moving average, is an indicator that measures the average price of any asset over a specific period and can be used to determine resistance and support levels.

However, compared to the levels during the November rally, the trading volume on Coinbase is still low. As long as the resistance level of $0.40 remains in place, caution is needed.

Some expect DOGE to reach the milestone level of $1 in 2025, nearly 50% higher than the token's all - time high of 70 cents in 2021.

Alex Thorn, the head of research at Galaxy Digital, wrote in an article on this year's market forecasts, "Dogecoin will eventually reach $1, and the market capitalization of the most famous and oldest memecoin will reach $100 billion. However, the Department of Government Efficiency will surpass Dogecoin's market capitalization. The Department of Government Efficiency will identify and successfully implement cuts that exceed Dogecoin's high market capitalization in 2025."

The recent rise of DOGE has been largely driven by the bullish sentiment brought about by the endorsement of this meme by Elon Musk, a tech entrepreneur in the Trump administration.

Musk has launched a plan to establish the "Department of Government Efficiency" (abbreviated as DOGE) to improve the efficiency of government spending.

This has led to traders' expectations that there may be more discussions about "DOGE" in the mainstream media and the retail trading community, thereby generating attention and interest in Dogecoin, as pointed out by CoinDesk in mid - October.