TLDR:
- Dogecoin has seen a bounce back from its vital support level of $0.143, hinting at a possible change in market direction.
- CryptoELITES, a noted analyst, envisions DOGE reaching the $5 mark, while others set their sights on the $2 target.
- In a span of just 72 hours, large holders have amassed 1.7 billion DOGE valued at $298 million amidst recent market downturns.
- The SEC's pending ETF decisions for Dogecoin continue to loom, yet some experts remain confident of eventual approval.
- Looking at past trends, the 66% drop in price could pave the way for a significant rally reminiscent of previous gains that ranged from 300% to 500%.
After recent market volatility, the cryptocurrency sector has rebounded, reaching a valuation of $2.65 trillion, marking a 1.30% rise. Dogecoin aligns with this trend, witnessing a 2% price increase in the last 24 hours.
Dogecoin's current price is $0.1614, reflecting a 3.64% rise today, even though it's faced a decline of 17% over the past week and 34% for the month.
Dogecoin recently rebounded off a critical support level set at $0.143. Today's candle formed a lower wick at $0.14297, illustrating robust buyer engagement at this point.
DOGE Price
With technical indicators leaning bullish, the TD Sequential indicator has flashed a buy signal on the daily chart, something that historically aligns with major price upticks.
Recently, CryptoELITES, a market analyst, offered a buoyant prediction for Dogecoin. Grounded in historical price patterns, their findings suggest DOGE could soon aim for $5.
DOGE $5 is coming soon!
What do you think?
For detailed insights and analysis, join my conversation on Telegram. https://t.co/EeTzlicwoM $DOGE #DOGE #Dogecoin #Memecoin pic.twitter.com/eDkKnhBSxh
— @CryptoELlTES (@CryptooELITES) March 11, 2025
During the last market correction, Dogecoin Dogecoin saw a sharp 20% decline from $0.22 to $0.17. Still, savvy investors seized this chance to boost their holdings.
There's been a considerable uptick in whale activity, with significant investors accumulating 1.7 billion DOGE worth about $298 million within three days—a behavior that often suggests impending price uptrends.
Lumen predicts that if DOGE climbs past $0.2 prior to ETF approval, it could soar to $0.5. Meanwhile, crypto enthusiast DOGECAPITAL believes Dogecoin might hit $90 by 2025's end.
$DOGE $10+ DOGECOIN?! 🚀🚀
Same #DOGECOIN Examining the weekly pattern, we see it maintaining the same parallel line level, akin to its trend during 2017 and 2021 cycles. Once the bottom is confirmed, phase two is expected to unfold. pic.twitter.com/SGtS9IN5VE
— ÐOGECAPITAL (@DimaPotts36) March 4, 2025
Doge ETFs Delayed
ETF approvals for Dogecoin remain on hold by the U.S. Securities and Exchange Commission. However, ETF Store President Nate Geraci believes approval is imminent.
Past patterns endorse a potential upswing. Dogecoin has undergone three major setbacks since October 2022, with the first two seeing a 64% correction before eventually spiking 300% and 500%.
The recent 66% pullback seems to echo past patterns that resulted in significant increases. Should this trend persist, DOGE might be poised for another substantial rise.
Short positions might contribute to further upward momentum. A short squeeze could be on the horizon if DOGE pushes to $0.2146, risking $29.15 million in short positions.
Analyzing broader timelines, Dogecoin is currently perched at a parallel support line it has hit in past cycles, reminiscent of setups from 2017 and 2021 prior to major surges.
A $2 mark is regarded as a crucial target by numerous experts. Dogecoin's co-founder Billy Markus has speculated a potential rise to $2.3, translating to a 500% boost from current levels.
