TLDR:
- Dogecoin has rebounded from a critical support level of $0.143, showing signs of a potential trend reversal
- Analyst CryptoELITES predicts DOGE could reach $5, while many other experts point to $2 as a key target
- Whales have accumulated 1.7 billion DOGE worth $298 million in just 72 hours during recent market dips
- The SEC has delayed decisions on ETFs for Dogecoin, though experts remain optimistic about eventual approval
- Historical patterns suggest the recent 66% price correction could precede a major rally similar to past 300-500% gains
The cryptocurrency market has rebounded from recent turbulence, reaching a value of $2.65 trillion with a 1.30% increase. Dogecoin is following this upward trend with a price surge of nearly 2% over the past day.
Currently trading at $0.1614, DOGE has seen a daily increase of 3.64%. This comes despite weekly and monthly declines of 17% and 34% respectively.
Dogecoin recently bounced off a critical support level of $0.143. The daily candle closed with a lower wick at $0.14297, indicating strong buyer interest at this price point.
DOGE Price
Technical indicators are aligning with bullish sentiment. The TD Sequential indicator has given a buy signal on the daily chart, which has previously preceded major price rallies.
Market analyst CryptoELITES recently shared an optimistic forecast for Dogecoin. Their analysis, supported by historical chart patterns, suggests DOGE could reach $5 in the near future.
DOGE $5 is coming soon!
What do you think?
For more analysis, join my Telegram channel.https://t.co/EeTzlicwoM$DOGE #DOGE #Dogecoin #Memecoin pic.twitter.com/eDkKnhBSxh
— @CryptoELlTES (@CryptooELITES) March 11, 2025
During the last market correction, Dogecoin fell nearly 20% from $0.22 to $0.17. Large investors took advantage of this dip to increase their holdings.
Whale activity has been high, with major investors accumulating 1.7 billion DOGE worth approximately $298 million in just 72 hours. This accumulation at lower prices often precedes price increases.
Analyst Lumen projects DOGE could surge to $0.5 if it breaks past $0.2 before ETF approval. More boldly, crypto expert DOGECAPITAL suggests Dogecoin could reach $90 by the end of 2025.
$DOGE $10+ DOGECOIN?! 🚀🚀
Same #DOGECOIN weekly chart, just with a new look. The weekly candle continues to hold the same parallel line level, mirroring its behavior during the 2017 and 2021 cycles. Once the bottom is fully confirmed, the second phase is expected to… pic.twitter.com/SGtS9IN5VE
— ÐOGECAPITAL (@DimaPotts36) March 4, 2025
Doge ETFs Delayed
The U.S. Securities and Exchange Commission has delayed its decision on approving ETFs for Dogecoin and several other cryptocurrencies. Despite this setback, ETF Store President Nate Geraci believes these ETFs will eventually gain approval.
Historical patterns support the case for an upcoming rally. Dogecoin has experienced three major retracements since October 2022, with the first two correcting by approximately 64% before seeing price spikes of 300% and 500%.
The recent 66% pullback mirrors these past corrections that led to explosive breakouts. If this pattern continues, DOGE may be positioned for another major price surge.
Short positions could fuel additional upward momentum. Approximately $29.15 million worth of short positions face liquidation if DOGE reaches $0.2146, potentially triggering a short squeeze.
Looking at longer timeframes, Dogecoin is currently resting near the same parallel support line it touched in previous cycles. Both 2017 and 2021 saw similar setups before major breakouts.
Many experts consider $2 a pivotal target for Dogecoin. Dogecoin co-founder Billy Markus has projected a possible surge to $2.3, representing a 500% increase from current levels.
