Dogecoin (DOGE) experienced notable volatility, declining by 4% to $0.2443 after initially rising to $0.2559. The price drop stemmed from sustained selling pressure, although trading volume surged by 77%, reflecting heightened market interest amid the sell-off.
Dogecoin’s market capitalization fell to $36 billion, indicating prevailing bearish sentiment during the trading session. Public figures, including Elon Musk, continue to back DOGE, fueling optimism that the token may reach the $1 mark.
Dogecoin price prediction eyes 235% Surge by March 2025
Market forecasts suggest promising gains for Dogecoin in the coming months. Analysts predict a 235% increase, potentially pushing DOGE to $0.848817 by March 23, 2025. Expected price milestones include $0.253294 in February (4.83% growth), $0.705987 in March (192.17% growth), $0.526711 in April (157% growth), and $0.423085 in May (85% growth).
Long-term projections for 2026 and 2027 indicate continued upward movement, with potential highs of $0.361522 and $0.280471, respectively. Consolidation near $0.24385 and a 1.75% gain in the latest session highlight stabilization efforts. Key resistance levels lie at $0.35 and $0.50, with the latter being a significant breakout zone. Should DOGE surpass these barriers, retesting previous highs between $0.50 and $1.00 becomes plausible in the coming months.
Institutional interest and On-Chain activity boost Bullish outlook
Ali Martinez’s analysis reveals DOGE trading within a long-term ascending channel, suggesting sustained bullish trends despite recent declines. Holding above the 0.786 Fibonacci level at $0.16395 acts as crucial support, with resistance looming at $0.57. If momentum strengthens, DOGE could target higher levels at $2.73 and $6.33, aligning with the 1.272 and 1.414 Fibonacci retracement levels.
Complementing this outlook, Dogecoin’s on-chain activity has surged by 34%, driven by DOGE ETF applications and increasing institutional involvement. This uptick in active addresses reflects growing investor confidence, potentially propelling DOGE to retest key resistance zones and aim for new highs.
Technicals hint at DOGE Price rebound toward $0.30 resistance
Technical indicators offer mixed signals for DOGE. The Moving Average Convergence Divergence (MACD) shows the line at 0.00139, nearing the signal line at -0.01895, indicating weakening bearish momentum and a potential bullish crossover. The histogram remains near the zero line, suggesting limited market momentum awaiting a clear direction.
The Relative Strength Index (RSI) at 35.20 hovers near oversold territory but shows signs of stabilization. If the RSI crosses above 40, buyers may gain traction, hinting at a short-term rebound. DOGE trades within a consolidation phase, with resistance at $0.30 and immediate support at $0.22. A successful breakout above the MACD crossover and RSI improvement could trigger upward momentum, while failure may see prices retreat to the $0.20 support zone.
