Elon Musk’s Dogecoin Hype Will Return Soon: Crypto Expert

With Elon Musk seemingly stepping back from any direct involvement with the White House, some cryptocurrency analysts speculate that a Dogecoin rally, reminiscent of past surges, could be on the horizon. Maksim Balashhevich, founder of Santiment, suggests that Musk may now have more availability to engage in the playful Dogecoin promotion that has become his trademark.

Is Elon Musk Poised to Ignite Another Dogecoin Rally?

"Now that Musk and Trump appear to be at odds, we might see Elon return to his characteristic crypto strategies," Balashhevich stated, referencing Musk's history of triggering DOGE rallies with strategic tweets.

Balashhevich recommends closely monitoring Dogecoin's social media activity. A period of sustained quiet surrounding the token could potentially set the stage for a significant price surge, particularly if Musk chooses to reignite his Dogecoin hype campaign.

Dogecoin experienced a substantial 200% increase last November, fueled by the wave of enthusiasm surrounding Trump's election win and a broader market uptrend. Subsequently, after Musk's appointment to lead the humorously named Department of Government Efficiency (DOGE) in January, DOGE saw another price increase. However, this rally proved short-lived. DOGE has since relinquished most of those gains, currently trading around $0.1935, according to available data.

Solana Price to Target $300 in 2025

While Dogecoin enthusiasts are hoping for another Musk-driven surge, Solana (SOL) investors are focusing on more fundamentally driven momentum. Despite a recent 13% dip in Solana's price, analysts at 21Shares remain optimistic about its potential. The token is currently trading near $160, but Matt Mena, a crypto strategist at the firm, believes this could soon change.

"A decisive move above the $180 level would pave the way to my short-term target of $200," Mena explained. Looking further ahead, he projects that Solana has the potential to reach $300 by the end of 2025.

This bullish outlook is primarily based on the network's anticipated Firedancer upgrade, scheduled for release next year, and the global launch of the Solana Seeker phone, commencing in August.

According to Mena, Solana's efficiency and scalability make it particularly well-suited for consumer-facing applications. "We anticipate Solana becoming the preferred chain for payments, gaming, DePIN, and on-chain social interactions – areas where low fees and high transaction speeds are paramount," he added.

The network is projected to experience a 10x to 100x improvement in transaction speeds following the upgrade, further solidifying its position as a high-performance blockchain tailored for retail applications.

Whether it's a Dogecoin pump propelled by Musk's online activities or Solana's steady ascent driven by technological advancements, both tokens remain on traders' watchlists for 2025. Keep a close watch on social sentiment surrounding DOGE and technical breakouts for SOL, as the next significant move could be imminent.