Dogecoin Bulls Hold Support at $0.35 - When Will DOGE Reach $1?

The price of Dogecoin (DOGE) plummeted on Wednesday, dropping 9% as risk assets tumbled broadly following the Federal Reserve's tougher-than-expected policy announcement. The Fed cut the benchmark interest rate by 25 basis points but fell short of market expectations for a swift continuation of rate cuts into 2025. Please provide the text to be translated. Despite the sharp decline today, Dogecoin price still holds above the support level of 50DMA and the recent low of about $0.35. After a strong price increase in recent weeks since Donald Trump's election victory in early November, some people are concerned that a deeper retreat may occur in the short term. 0,33-35 dollars is an important level for Dogecoin since mid-2021. If this level is broken, the price of Dogecoin may sharply drop back to the highest level in early 2024 at 0,23 dollars. While Dogecoin investors may need to prepare for a short-term market downturn, there are still many reasons to be optimistic about the cryptocurrency's prospects in 2025. The following is the reason. Dogecoin Price Outlook Increase in 2025 - When Will DOGE Reach 1$? Dogecoin has two main factors that are beneficial to it. First, the emergence of the Trump administration and the new US Congress is expected to usher in a new golden era for the cryptocurrency industry in the United States. Meanwhile, discussions about the establishment of the U.S. strategic reserve forces in the U.S. and other major countries continue to increase. These combined factors indicate the potential for significant price increases for major cryptocurrencies in the future - as the number one meme coin, Dogecoin is in a favorable position to benefit. On Monday, Dogecoin has a close connection with Trump's new administration, as Elon Musk's new Government Efficiency Department (DOGE) is named after this currency. Please provide the text to be translated. Musk has long been a supporter and proponent of Dogecoin. The world's largest meme currency is sure to take a big part in the meme coin market when Musk's DOGE comes to the fore, whether good or bad. So, assuming everything goes according to plan - Bitcoin reserves are established and the cryptocurrency industry booms - in the coming years, it may just be a matter of when, not if, Dogecoin reaches $1. Analyzing the relationship between Dogecoin and Bitcoin in the most recent three market cycles can help us answer this question. During the three recent market cycles, when Bitcoin (BTC) entered the phase of exploring new prices (such as in April 2017, December 2020, and most recently in November 2024), Dogecoin has always remained significantly lower than its all-time high. This time is no different. But in the past two market cycles, Dogecoin's price took only 1-3 months to catch up and break its own record high. So, assuming history repeats itself, DOGE could break out in early 2025, quickly reaching the $1 mark. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)