Could Dogecoin Rise 1000 Percent Again? Here is the Analysis of the Possibilities

Can Dogecoin (DOGE) repeat the historic rally it experienced in 2021? During that time, DOGE’s value rose more than 1000%. During this period, it reached an all-time high of $0.73. However, by 2025, market conditions and increasing competition make this situation more uncertain.

The meme coin market overall has faced a serious slowdown. While many coins have fallen below their key targets, Dogecoin is still holding the $0.30 support point. However, given that it is only a 4% drop away from losing that spot, there is still a chance of a rebound.

Changes in the Last Four Years

From 2021 to 2025, a major reform occurred in the cryptocurrency market. The total value of the market reached 3.5 trillion dollars. Meanwhile, the number of coins on the market increased by 150%, from 4,015 to over 10,000.

The number of whale wallets holding DOGE also increased. The number of wallets holding more than 1 billion DOGE increased by 20%, reaching a total of 74.07 billion coins. Additionally, Open Interest (OI) data also increased fivefold, exceeding $1 billion, along with DOGE’s bull rally in May 2021. Despite these growths, Dogecoin is still 52% behind its all-time high. In particular, DOGE’s reaching the $1 target seems far away. This is due to the inflationary nature of Dogecoin.

There are currently approximately 148 billion DOGE in circulation. Additionally, 5 billion new coins are added to circulation every year. This leaves DOGE’s value subject to constant devaluation. In order for a jump like the rally in 2021 to occur and the price to reach $ 3.85, DOGE’s market value must increase to $ 560 billion. However, such a large demand explosion is quite difficult under current market conditions.

DOGE’s Tokenomic Problems

If the circulating supply in 2021 remained the same and the price of DOGE was at its current level of $0.35, its market cap would be approximately $45 billion. However, due to its inflationary structure, DOGE’s market value has now increased by 15%, reaching 52 billion dollars. This shows that with memecoins like Dogecoin, simply measuring market cap is not enough; What really matters is the level of demand.

While major players have continued to accumulate DOGE recently, interestingly, it is reported that wallets holding between 10 million and 1 billion DOGE have sold 18% of their assets in the last 60 days.

Dogecoin’s long-term value is largely concentrated in the hands of whales, making DOGE more speculative. Additionally, the likelihood of seeing a Dogecoin ETF is quite low at the moment.

All in all, it seems unlikely that Dogecoin will rise 1000% to $3.85. However, if demand increases, the price may approach 2021 levels. In this process, it should not be forgotten that stable growth and the actions of major players will play a key role for Dogecoin investors.