TLDR
- Dogecoin is on the verge of a notable breakthrough, buttressed by a strong base between the $0.139 and $0.17 price points.
- Market analyst Kevin asserts that for Dogecoin to sustain its upward trajectory, holding above $0.139 is essential.
- According to Carl Moon, if Dogecoin can push past $0.185, there's potential for an enormous 157% leap to around $0.434.
- With increased large-player acquisitions and enhanced network actions, the sentiment around Dogecoin remains optimistic.
- Recent trends show DOGE trying to rebound from $0.1650, with aims set on reaching $0.180.
Dogecoin has been fluctuating within a technical formation indicating a possible breakout imminently. Recently, this well-known crypto touched $0.18, then retracted to test its underlying supports near $0.165. Analysts are noticing these patterns, suggesting DOGE could be gearing up for its next substantial move.
After climbing to $0.435 in January, Dogecoin has formed a 'falling wedge' pattern with sequentially diminishing highs and lows, signaling a potential game-changer moment ahead.
Kevin, a crypto analyst, emphasizes the critical nature of the $0.139 support point for Dogecoin, noting its role as the 'final bull market support line' and suggesting its maintenance is key for continued growth.
Kevin illustrates how several indicators are adjusting with the Weekly Stoch RSI fully reset, and the 3-Day MACD approaching reset status. The Two-Week Stoch RSI might need roughly another month to reach its lower threshold.
Technical Analysis
Such technical realignments often suggest waning downward push as resetting from over-sold zones can lead to price recoveries with renewed interest from traders.
Carl Moon, another expert, anticipates a significant increase if Dogecoin steps out of its current formation. Should it surpass $0.185 on the daily chart, a structural breakthrough is likely.
Once $DOGE Breaking beyond this descending wedge could propel its value.
The target is the top at $0.434šÆ
Trade #Dogecoin on Bitunix ā https://t.co/GzXaATjBF0 Get a bonus of $100 after making an initial $500 deposit! pic.twitter.com/UVtNCWFswd
ā Carl Moon (@TheMoonCarl) March 20, 2025
Post-breakout, Moon projects a potential upswing by 157%, propelling DOGE near the $0.434 level, akin to its high from earlier in the year.
Analyst Whalesdesk notes a firm base of support for Dogecoin between $0.16 and $0.17, halting further declines and potentially acting as a springboard for price escalations.
Whalesdesk also sets a higher price aim, suggesting DOGE that reaching an impressive $0.60, a figure not seen in four years, is possible. To get there, overcoming barriers at $0.30 and $0.45 is necessary.
Data from the blockchain underscores increased activity from large investors, bolstering the optimistic perspective. When DOGE is accumulated at present prices, history has shown substantial price shifts.
Recently, Dogecoin network user activity has swelled. An uptick in the daily count of active addresses suggests more people are trading in DOGE.
The network also reports heightened transaction volumes. Such increases usually signal rising demand for Dogecoin and can bolster its price trajectory.
Those developing Dogecoin are busy with upgrades to better transaction speed and lower costs, directing efforts toward broader adoption and potential new applications.
DOGE recently found a low at $0.1646 yet is showing recovery signs, moving beyond the $0.1680 mark and exceeding the 100-hourly simple moving average, hinting at short-term gains.
A supportive bullish trend line materializes at $0.1680 on the hourly frame. Holding here could set the stage for advances to the $0.1755 and $0.18 resistance lines.
Should Dogecoin fail to clear the $0.1755 hurdle, another dip might ensue. Subsequent support stands at $0.172, $0.168, and a crucial $0.165. Breaching $0.165 could dive the price toward $0.162 or even $0.155.
The digital currency market has experienced ups and downs in response to Federal Reserve decisions. These broader economic factors are swaying Dogecoin investor confidence.
Kevin relates Dogecoin's prospects to Bitcoin, suggesting that if Bitcoin stays above $70,000, the forecast for Dogecoin remains encouraging, underscoring the link between Bitcoin's shifts and the broader altcoin sphere.
