Dogecoin: The “Meme” Coin That Could Rise Double in the Next 12 Months?

Dogecoin (CRYPTO: DOGE) – a cryptocurrency that originated from a joke in 2013 – has had a tumultuous journey. From an initial price of around $0.0002, Dogecoin reached a historic peak of $0.74 in May 2021 before correcting to the current approximately $0.21. An initial investment of just $100 at one point surged to $370,000 and is currently still holding around $100,000 – an extraordinary profit. However, in the current context, multiplying 1,000 times like before may be very difficult to replicate. Nevertheless, Dogecoin doubling to $0.40 within the next 12 months is entirely feasible, thanks to the 5 reasons below:

1. Proposals for ETFs traded based on the (spot price) for Dogecoin Many large companies in the cryptocurrency field, such as Grayscale, Bitwise, and 21Shares, have submitted applications to the U.S. Securities and Exchange Commission (SEC) for permission to establish ETF funds tracking the price of Dogecoin. If approved, these ETFs will expand access to Dogecoin for both institutional and individual investors, while enhancing Dogecoin's position alongside giants like Bitcoin and Ethereum – two coins that have had ETFs approved in the past year.
2. Trump's crypto-friendly policy The Trump administration is actively promoting the development of the cryptocurrency market with initiatives such as the Strategic Bitcoin Reserve and the National Digital Asset Vault. Additionally, the appointment of Paul Atkins, a strong supporter of the crypto industry, as SEC chairman could pave the way for the approval of Dogecoin ETFs. At the same time, President Trump is also pressuring the Federal Reserve (Fed) to cut interest rates to stimulate the economy. If this happens, capital may flow into higher-risk assets such as Dogecoin.
3. Support from social networks and celebrities Dogecoin was heavily "pumped" thanks to posts from stars like Elon Musk, Mark Cuban, and Snoop Dogg. Elon Musk not only tweeted a lot about Dogecoin but also allowed Tesla to accept payments in this coin for some products since the end of 2021. Recently, social media platform X (formerly known as Twitter) has also integrated payments using Dogecoin. Elon Musk's leadership of an agency called the Department of Government Efficiency (DOGE) under the Trump administration has made this coin even more "viral." The Dogecoin community on social media is very large with: 2.7 million members on the Dogecoin subreddit, 11.2 billion views on TikTok.

This creates a strong FOMO effect whenever there is positive news. 4. The expansion of the development ecosystem Dogecoin is mined using a proof-of-work mechanism similar to Bitcoin, but it has no supply limit – there are currently nearly 150 billion coins in circulation, making this coin inflationary. In addition, Dogecoin currently does not support smart contracts – which prevents it from becoming a platform for decentralized applications (dApps) like Ethereum or Solana. However, this may change as Dogecoin is developing an official Layer 2 on the Polygon platform, allowing connection of dApps and digital assets with Dogecoin. The expansion of the development ecosystem will increase the practical use value of Dogecoin, no longer just a "fun" coin. 5. Whales are quietly accumulating Dogecoin While many retail investors are withdrawing from Dogecoin, some "whales" (large anonymous investors) have been quietly accumulating DOGE over the past year. This is a sign of long-term confidence in the potential recovery of Dogecoin. The combination of ETFs, low interest rates, support from Elon Musk, and the expansion of the ecosystem could be the catalyst for Dogecoin to surge back. Notably, Dogecoin reached $0.48 in December 2024, so returning to the $0.40 mark is well within reach if there is a positive wave. Conclusion Dogecoin is still not considered a safe long-term investment, but with the current supporting factors, doubling in value to $0.40 in the next 12 months is entirely feasible. With the combination of policy, media, and technological development, Dogecoin is gradually overcoming the label of "meme coin" to enter a more serious playing field of the digital asset market.