Elon Musk Dogecoin pump incoming? SOL tipped to hit $300 in 2025: Trade Secrets

Welcome to Trade Secrets. This month, we’re talking to top crypto analysts about where Bitcoin and other major cryptocurrencies are going in the year ahead and checking the options data and prediction markets. 

The Bulls

Bag check: Dogecoin, Solana

Dogecoin may pump now that Elon Musk has more time on his hands: Santiment

Santiment analyst Maksim Balashhevich says now that Elon Musk is no longer working for the White House, he has time for more pro-Dogecoin antics, meaning another price rally could be on the horizon.

The fact that Musk and Trump are now fighting opens up the potential for Musk to return to his “old crypto playbook,” says Balashhevich.

“Musk might turn back to Dogecoin to score a public ‘win’ and restore some credibility.”

His “actionable insight” is for traders to monitor Dogecoin’s social volume. “If discussions around the coin remain low for a few more days, it could create the perfect setup for a pump should Musk decide to post about it,” he says.

Dogecoin has been closely tied to Musk’s antics over the years, with many tweets from the erratic Tesla boss leading to sudden pumps — so much so that he had a lawsuit against him. 

Dogecoin surged 196% last November, following Trump’s presidential election victory and a broader upswing in the crypto market. Many attribute that rally to the excitement around Musk being appointed to lead the very conveniently named Department of Government Efficiency (DOGE). 

Dogecoin has since lost most of Trump’s post-election gains as public opinion turned against the DOGE agency, trading at $0.1935 at the time of publication, according to CoinMarketCap data.

Solana could see $300 price tag before year-end: 21Shares

Solana has dropped nearly 13% over the past month and is holding onto the $160 mark tightly. With memecoin season nowhere in sight, what near-term catalysts, if any, can it count on?

21Shares crypto research strategist Matt Mena brushes off the short-term price pain and forecasts a small rally soon ahead of Solana’s price doubling by year’s end.

“In the near term, a clean break above the $180 resistance level could open the door for my near-to-medium term $200 target,” Mena tells Magazine.

“I see Solana entering price discovery and pushing above $300 by year-end,” he adds, citing the highly anticipated but much-delayed Firedancer upgrade, which is expected sometime in 2025, and the global rollout of the Solana Seeker phone starting in August.

“I’m bullish on Solana because it’s built for scale and retail,” he adds.

Mena cites the network’s low fees and the upcoming upgrades as key reasons for the firm’s conviction. He says these upgrades are anticipated to increase transaction speeds by 10 to 100 times, significantly improving the network scalability. He added:

“Solana is becoming the default chain for consumer-facing crypto apps.” 

“It’s ideal for retail-driven use cases like payments, gaming, DePIN, and onchain social – areas where speed and cost matter most,” he says.

The Bears

Bag check: Bitcoin, Ethereum 

Bitcoin may head back to $88K before ‘next leg up’

Bitcoin reached the current all-time high of $111,970 back on May 22, leaving many traders on the edge of their seats, hoping for a price reclaim and even higher gains. However one crypto analyst warns the pain might not be over yet.

Despite Bitcoin approaching its all-time high again, hovering around $109,000, Ledn’s chief investment officer, John Glover, tells Magazine he believes it could still drop below $100,000 in the near future.

“I don’t believe that this corrective move lower has completed yet,” Glover says.

Glover speculates that the Bitcoin pullback “will complete” in the $88,000 to $93,000 range before the next upswing.

He foresees the “corrective move” finishing sometime in the mid-to-late summer, followed by an “impulsive wave” higher.

He doesn’t rule out a possible retest of Bitcoin’s previous all-time high near $74,500 in an extremely bearish scenario. However, his longer-term outlook is more optimistic, with expectations for the price to reach around $136,000 by year-end.