Dogecoin Predicted to $2 If Not Passing This Level

Bittime - Dogecoin price is being tested at critical levels. If it survives, analysts predict DOGE could surge to $2. Check out the complete analysis in this article!

After experiencing a sharp decline in the last few days, analysts are now highlighting important levels that could determine the direction of DOGE's next price movement. 

If Dogecoin is able to survive at this level, it is not impossible that the price of DOGE will jump to $2 (around Rp. 32,800). However, if it fails, the bearish trend could get stronger. So, what is the latest Dogecoin price analysis? Following is the discussion.

Dogecoin Price Analysis

Source: X (@ali_charts)

According to technical analyst Ali Martinez, Dogecoin is currently testing the lower limit of the “Ascending Channel” pattern in the weekly chart. 

This pattern is a form of consolidation where prices move within the range of two parallel trend lines, with the lower limit serving as support and the upper limit as resistance.

Since the beginning of 2024, the price of Dogecoin has touched the lower limit of this channel several times and managed to survive, which was then followed by a significant price increase. 

Now, the DOGE price is again approaching this limit at around $0.16 (around Rp. 2,624), and investors are waiting to see whether this support will hold or be broken.

Read also: Grayscale Files Official XRP and Dogecoin ETF with SEC

Dogecoin Prediction According to Ali Martinez: Towards $2 DOGE?

Ali Martinez stated that if DOGE is able to stay at the $0.16 level and experiences a rebound, then a potential increase of up to $2 could occur in the near future. 

This level coincides with the center line of the Ascending Channel, which historically has often been an area of ​​price interaction.

However, the reverse scenario also needs to be considered. If Dogecoin fails to maintain this support and experiences a breakdown, then the bearish trend could deepen, bringing DOGE prices even lower. 

As with any technical pattern, the risk of a downward movement remains and cannot be ignored.

Current Dogecoin Price

Currently, the price of Dogecoin is at $0.155082 (around IDR 2,542) with a 24-hour trading volume reaching $2,554,020,128 (around IDR 41.9 trillion). In the last 24 hours, Dogecoin experienced a decline of 10.13%. 

Based on the ranking on CoinMarketCap, DOGE is currently in 9th position with a market capitalization of $23 billion (around IDR 377.4 trillion). Currently, there are approximately 148,378,696,384 DOGE in circulation, while the maximum supply is not yet known.

Read also: XRP vs Dogecoin: Comparison Before Buying Crypto

Conclusion

Dogecoin is currently at an important crossroads. If the price is able to stay around $0.16 and see an upside, DOGE has the potential to head towards $2 in the near future. However, if this support fails to hold, selling pressure could become greater.

Investors are advised to pay attention to price movements and support levels before making investment decisions. Always do DYOR or do your own research before investing in crypto assets, OK!

FAQ

1. What caused the price of Dogecoin to drop?

The decline in Dogecoin prices was influenced by various factors, including crypto market volatility, massive sell-offs, and uncertain macroeconomic conditions.

2. What should you pay attention to before buying Dogecoin?

Investors should pay attention to key support and resistance levels, trading volume, and news or policies that may affect the future price of Dogecoin.

4. Is Dogecoin still a good investment?

Dogecoin remains popular among retail investors, but due to its high volatility, it is important to do your research and not invest more than you can afford to risk.

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Reference 

coinmarketcap, Dogecoin Coinmarketcap, accessed March 11, 2025.

NewsBTC, Dogecoin To $2 Could Be Next If DOGE Holds This Level: Analyst, accessed March 11, 2025.

Author: Y