Galaxy Digital’s research department predicts that Dogecoin (DOGE) will reach a major milestone in 2025.
In a new thread on the social media platform X, Alex Thorn of Galaxy Research predicts that top memecoin DOGE will rise more than 170% of its current value this year, reaching a psychological price for the first time in its history.
“Dogecoin will finally reach $1, with the world’s largest and oldest memecoin reaching a market cap of $100 billion.”
DOGE is trading at $0.37 at the time of writing, up 11.7% in the last 24 hours. With a market capitalization of $55.47 billion, DOGE is the seventh largest crypto project.
Meanwhile, Charles Yu of Galaxy Research is to predict a decline in the market dominance of Tether’s stablecoin USDT, while other stablecoins, such as Circle’s USDC, are gaining more market share thanks to attractive returns.
“Tether’s long-standing market dominance will fall below 50%, challenged by yielding alternatives such as Blackrock’s BUIDL, Ethena’s USDe and even USDC Rewards paid for by Coinbase/Circle. As Tether internalizes returns from USDT reserves to fund portfolio investments, marketing spend by stablecoin issuers/protocols to pass on revenue will drive existing users away from Tether and onboard new users to their yield-bearing solutions.
USDC rewards paid into users’ Coinbase Exchange and Wallet balances will be a powerful hook that will boost the entire DeFi (decentralized finance) sector and possibly be integrated by fintechs to enable new business models. In response, Tether will begin to pass on revenue from collateral holdings to USDT holders and may even offer a new competitive yield product such as a delta-neutral stablecoin.”
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