The cryptocurrency industry recorded a rather bearish February. The second month of the year brought in more losses than gains for a number of assets. The OG meme cryptocurrency, Dogecoin (DOGE), was among the biggest losers of the month. The asset dipped by 34% over the past 30 days. As the month comes to an end, investors are looking forward to registering big profits in March 2025.
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Dogecoin Price Action
During the time of writing, Dogecoin was trading at $0.2300. This comes after a massive drop of nearly 7% over the past 24 hours. The meme coin seems to be struggling towards the end of the month as well. The community is hoping that DOGE doesn’t carry this trend on to March.
Along with its price, the DOGE market recorded a major setback in terms of network activity as well. According to a prominent analyst, Ali Martinez, the meme coin’s network activity has fallen to its lowest point since October 2024, with less than 60,000 active addresses every day and only 66 whale transactions. This further adds to the bearish sentiment that is currently haunting the Dogecoin market.
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March Price Prediction
It looks like Dogecoin will be turning over a new page in the month of March. According to data from CoinCodex, in comparison to current rates, analysts predict that DOGE’s price will increase by 206.19% in March. The asset may average around $0.705987, with a top of $0.894672 and a low of $0.571738. With a possible ROI of 288.03%, long traders may find this to be a lucrative proposition.
Dogecoin investors will be breathing a sigh of relief in the coming month. As seen in the above image, DOGE is all set to claim a new all-time high. The potential uptick is much needed for the meme coin market.
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