TLDR
- Dogecoin is approaching a critical breakout point after recently surging to $0.18
- Analyst Carl Moon predicts a potential 157% rally to $0.434 if DOGE breaks above $0.185
- Whalesdesk identifies strong support between $0.16-$0.17 and projects a possible climb to $0.60
- Increased whale accumulation and network activity support a bullish outlook
- Technical indicators like Weekly Stoch RSI are resetting, suggesting the end of downward pressure
Dogecoin has been moving toward what analysts describe as a pivotal moment in its price action. The popular meme cryptocurrency has been trading within a multi-month falling wedge pattern since reaching its January peak of $0.4350, forming lower highs and lower lows as it tightens toward a major breakout point.
- The cryptocurrency recently surged to $0.18 before retracing. This move pushed DOGE to the edge of its current pattern structure. Traders and analysts are now watching closely to see if it can break through key resistance levels.
Technical Indicators Show Reset
Crypto analyst Kevin shared on social media that DOGE received a “weekly demand candle” at what he calls the “Last line of bull market support.” He points to the $0.139 level as a vital support zone that Dogecoin must maintain.
Several technical indicators are approaching reset conditions. The Weekly Stoch RSI is already fully reset according to Kevin’s analysis. The 3-Day MACD is “getting closer to fully resetting.”
The Two-Week Stoch RSI may need approximately another month to align with the lower, reset region. These technical conditions often attract traders who see such convergences as signals that a market may be ready for a significant price move.
Price Projections from Analysts
Carl Moon, another cryptocurrency analyst, has shared his insights on Dogecoin’s price movement. He highlights that the meme coin is approaching a structural breakout that could trigger a sharp rally.
According to Moon, if DOGE closes above $0.185 on the daily chart, it may confirm the breakout. Following a successful breakout, Moon projects that Dogecoin could rise by 157% to reach $0.434.
Once $DOGE breaks out of this falling wedge, it will absolutely fly!
The target is the top at $0,434🎯
Trade #Dogecoin on Bitunix – https://t.co/GzXaATjBF0 and get a free $100 after your first $500 deposit! pic.twitter.com/UVtNCWFswd
— Carl Moon (@TheMoonCarl) March 20, 2025
This target aligns with the price high achieved prior to recent political events. For this projection to materialize, DOGE must sustain above the breakout level to avoid testing lower support zones again.
Analyst Whalesdesk has identified strong support between $0.16 and $0.17, which has prevented further downside movement. He emphasized that DOGE needs to hold above this range to maintain its bullish trajectory.
Whalesdesk outlined a potential price path leading to a four-year high of $0.60. Before reaching this level, DOGE must clear resistance zones at $0.30 and $0.45.
On-Chain Activity Supports Bullish Case
On-chain data confirms increasing whale activity, with large holders accumulating DOGE at current price levels. Historically, major whale buying has preceded important price increases.
This pattern of accumulation signals confidence among institutional and high-net-worth investors in Dogecoin’s future price performance. The behavior of these large holders is often watched as an indicator of possible price direction.
Daily active addresses have increased in recent weeks, indicating more users are engaging with DOGE coins. Transaction volumes on the Dogecoin network have also gone up, suggesting rising demand for the token.
Network activity typically intensifies when there is an upturn in price. The increased level of participation might support the ongoing price trend and provide momentum for further increases.
Dogecoin developers continue to enhance network efficiency through technical upgrades. These improvements aim to increase transaction speed and reduce fees, potentially supporting broader adoption and utility.
The overall cryptocurrency market has shown responsiveness to recent Federal Reserve policy decisions. Macro-economic factors have generally received positive responses from investors across digital assets.
Dogecoin’s price movements have been influenced by this broader market sentiment. Analysts are currently watching the $0.185 level, which appears to be the current breakpoint for further growth.
A successful move above this level could confirm the breakout thesis and potentially open the door for continued upward momentum in DOGE price. Traders remain focused on this key threshold as a signal for future price action.
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