The crypto market kicked off 2025 with big news for Dogecoin. After Trump picked Elon Musk to lead the Department of Government Efficiency (DOGE), the popular meme coin shot up to $0.3374, with many analysts now saying it could reach the $1 mark.

The timing looks good — DOGE just jumped 10% in 24 hours and sits as the 7th largest crypto by market cap. 

PlutoChain ($PLUTO) is another project that’s been gaining traction from whales due to its smart solution to potentially make Bitcoin faster. 

Let’s look at the details of these developments. 

Can Dogecoin Reach $1 by April 2025? Analysts Weigh In on DOGE’s Potential

As of January 3, 2025, Dogecoin is trading at approximately $0.3374, with a market capitalization at around $49.74 billion. This makes it the 7th largest cryptocurrency by market cap.

Dogecoin experienced a surge of nearly 10% within 24 hours, climbing from $0.31 to $0.34 before stabilizing at $0.33.

The RSI is currently at around 59, which means Dogecoin is nearing the overbought zone but still has some room for upward momentum before hitting critical resistance levels.

Dogecoin (DOGE), once known as a joke cryptocurrency, is now at the center of serious discussions, largely due to the influence of Donald Trump and Elon Musk.

Toward the end of 2024, its price skyrocketed following news that President-elect Donald Trump had chosen Elon Musk to lead the newly formed Department of Government Efficiency (DOGE). 

After this announcement, DOGE’s value went from $0.15 to over $0.42 in just a few days. 

The focus of this initiative was to cut regulations and establish a Bitcoin reserve. As a result, it created a more favorable environment for cryptocurrencies and sparked greater investor interest.

Dogecoin’s recent weekly candle hints at a breakout and suggests bullish momentum ahead. These kinds of patterns have often led to significant price increases in the past.

A strong close above key resistance levels could bring DOGE closer to the $1 mark, but this depends on sustained trading volume and consistent buying interest to confirm the trend.

Crypto analyst Ðima James Potts forecasts that DOGE could exceed $10 by the end of 2025. He also anticipates a possible peak ranging from $23 to $36, depending on the breakout’s timing.

Similarly, Trader Tardigrade believes Dogecoin may have reached a local bottom and projects potential price targets of $0.5, $1, $1.5, and ultimately $3.2 if it follows historical trends.

PlutoChain ($PLUTO) Could Be A Game-Changer for Bitcoin’s Scalability and Speed

PlutoChain ($PLUTO) might have a solution for Bitcoin’s persistent challenges, such as network congestion, slow transaction speeds, and high fees. 

All of this puts significant limits on this leading digital asset and its potential. PlutoChain could solve these issues with its Layer-2 approach.

The plan would be to create a parallel network that operates above Bitcoin’s primary blockchain. This setup would help reduce traffic on the mainnet, lower transaction costs, and enhance scalability. 

With its Layer-2 technology, PlutoChain offers a block time of just 2 seconds compared to Bitcoin’s standard 10-minute block time.

This significant improvement could allow Bitcoin to move beyond its role as a store of value, and tap into smart contracts and innovative blockchain applications.

One of PlutoChain’s standout features is its compatibility with Ethereum Virtual Machine (EVM). This capability could bridge the gap between Bitcoin and Ethereum and potentially allow developers to migrate projects seamlessly. 

This way, PlutoChain could help create new possibilities for DeFi applications, NFTs, and AI-driven projects.

Security remains a priority for PlutoChain, which is why it underwent rigorous independent audits conducted by SolidProof, QuillAudits, and Assure DeFi.

PlutoChain’s testnet has already handled 43,200 daily transactions, which demonstrates its capacity to meet real-world demands without delays or performance issues. 

To foster a community-driven development model, PlutoChain incorporates a governance system that allows users to vote on key decisions, such as updates, partnerships, and feature rollouts.

Final Words

Dogecoin looks set for an interesting year ahead. With Trump and Musk’s support, plus strong technical indicators, the $1 target doesn’t seem as far-fetched as it once did. Still, DOGE will need steady volume and buying pressure to maintain its momentum.

At the same time, PlutoChain might stand out as a practical solution to Bitcoin’s biggest problems. With its Layer-2 solution, EVM compatibility, and smart contracts, PlutoChain could expand Bitcoin’s utility in diverse industries. 

So as we head into 2025, both of these projects might be worth watching.

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Please remember that this article is purely informational and not financial advice. Any and all cryptocurrencies are volatile, with prices prone to rapid changes. Always do your own research and consult an expert before joining any crypto venture. We are not liable for any outcomes based on the information in this article. Statements about the future entail risks and may not reflect updates.