Dogecoin to $4, Here's the Analysis!

Bittime - Dogecoin (DOGE) is back in the spotlight in the crypto market. Because, a well-known crypto analyst, Ali Martinez, revealed the potential for the price of Dogecoin to recover and penetrate the psychological mark of $4 (around Rp. 66,000). How is the analysis? Keep following this article, OK! 

Ali Martinez sees the potential for a price spike if DOGE is able to stay at its critical support level. 

Let's dissect the technical and fundamental analysis that can be an indication of the future direction of Dogecoin prices here.

Dogecoin Price Analysis, Can It Rise to $4?

Source: X (@ali_charts)

Currently, Dogecoin is trading below the key level of $0.225 (around Rp. 3,700). Market sentiment is still dominated by fear, causing speculative assets such as DOGE to experience significant selling pressure. Since mid-February, DOGE prices have fallen by more than 35%.

However, not all analysts are pessimistic. Ali Martinez, a well-known crypto analyst, highlighted that if Dogecoin is able to stay in the support zone of $0.16 to $0.19 (around IDR 2,640 to IDR 3,135), then the opportunity for a big rally remains open. 

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

If this bullish scenario materializes, DOGE could surge to $4 (around IDR 66,000), which would mean an increase of more than 1,700% from current levels.

Dogecoin Price Key Levels

To achieve this price spike, Dogecoin had to pass several important levels. Here's the explanation:

1. Resistance at $0.22 (around IDR 3,630) – If the price can break this level, there is a chance to reverse the bearish trend.

2. Resistance at $0.25 (around Rp. 4,125) – This level determines whether DOGE can enter a bullish trend.

3. Support at $0.17 (around Rp. 2,805) – If DOGE falls below this level, further downside could potentially occur.

4. Support at $0.16 (around IDR 2,640) – This is a crucial level that must be maintained so that the opportunity for an increase remains.

If Dogecoin manages to hold support and break through key resistance, then a major rally to $4 is not out of the question. However, keep in mind that this increase will not happen overnight, and the market can still experience high volatility.

Conclusion

The potential for Dogecoin to reach $4 is still open. However, it all depends on the strength of buyers to defend the key support level. 

If DOGE is able to overcome the $0.25 resistance, this could be an early signal for a larger price recovery. However, if the selling pressure continues and DOGE falls below $0.16, the bearish scenario could become stronger.

For investors interested in DOGE, it is important to continuously monitor price movements and key levels before making an investment decision. Always do DYOR (do your own research) before investing in crypto assets.

Read also: XRP vs Dogecoin: Comparison Before Buying Crypto

FAQ

1. Can Dogecoin reach $4?

Dogecoin has the potential to rise to $4, but it will take time and technical confirmation. Support and resistance levels must be broken before a major rally occurs.

2. What are the main factors that can push DOGE prices up?

The main factors are strong purchase volume, wider adoption, as well as positive sentiment in the crypto market as a whole.

3. Is Dogecoin an attractive investment?

Dogecoin remains attractive to speculative investors, but the risks are high. Make sure to do your research before investing.

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Reference 

NewsBTC, Dogecoin Will Start A Move To $4 If Current Demand Holds – Can Bulls Step In?, accessed March 3, 2025.

Ali Martinez, Ali Martinez's X Account, accessed March 3, 2025.

Author: Y