Bullish Signals Despite Dogecoin Price Drops, Could Break New ATH!

Bittime - Dogecoin price drops in recent weeks, which has raised doubts about the asset's potential in the current bull market cycle. 

However, some analysts are still optimistic that this is just part of a movement pattern before a major price spike occurs. 

DOGE's price indeed fell before breaking through to the new ATH, but many believe that a price reversal will occur soon. Read this article to find out more!

Bullish Signal Despite Dogecoin Price Drops

Analyst Trader Tardigrade estimates that there is a bullish signal even though the price of Dogecoin is falling. He stated that the current DOGE price movement pattern actually strengthens the potential for an increase in the near future. 

Source: Bittime.com

Sure enough, even though the price of Dogecoin fell a few hours ago, this asset is starting to show a slight increase. According to Bittime markets, DOGE is up 1.12% and trading at $0.16 at the time of writing.

Several technical indicators also show bullish signals. At the moment, DOGE is still holding in a Gaussian Channel pattern, which is a positive sign. Previously, this pattern had helped Dogecoin when it entered the Falling Wedge pattern. 

Meanwhile, DOGE is around a key support level that was previously the starting point for major increases. If this pattern repeats itself, it is not impossible that Dogecoin will soon experience a price spike until it reaches a new ATH.

Read Also: Bitwise Officially Proposes Dogecoin ETF, From Joke to Serious Asset!  

Big Surge After Dogecoin Price Drops

In his latest analysis, Trader Tardigrade also emphasized that the current DOGE price decline is actually building momentum for a major increase. 

Dogecoin price falls are seen as a natural part of the price pattern before experiencing significant increases. Based on historical data, Dogecoin always experiences big spikes after experiencing deep corrections.

Since October 2022, DOGE has experienced three major corrections, including the current downturn. In 2023 and 2024, Dogecoin experienced a retracement of 64% before finally shooting up more than 300% and 500%.

Currently, DOGE has experienced a correction of up to 66%, which according to Trader Tardigrade is a level sufficient to trigger a major price spike.

Potential for Dogecoin to Break New ATH

If history repeats itself, Dogecoin has the potential to surge to the psychological level of $1, which would be a new ATH for this asset.

With more accumulation at the current price level, buying pressure could increase in the coming weeks and push DOGE to even higher levels.

If Dogecoin is able to maintain support and get sufficient buying encouragement, then the chances of reaching a new ATH are greater. Let's observe DOGE price movements to anticipate potential increases that could occur at any time.

Read Also: DOGE Price Prediction 2025: Potential Dogecoin Pump!  

Dogecoin FAQs

What is Dogecoin?

Dogecoin is a meme coin created in 2013 by Billy Markus and Jackson Palmer. Originally created as a joke, Dogecoin has now become one of the most popular crypto assets with a large and active community.

What is the Difference Between Dogecoin and Bitcoin?

Dogecoin has an unlimited supply, while Bitcoin has a maximum supply of 21 million coins. In addition, Dogecoin transactions are faster and have lower fees than Bitcoin, making them more suitable for everyday payments.

What is the use of Dogecoin?

Dogecoin is often used for online tipping, charitable donations, and micropayments. Apart from that, the community is also active in supporting social projects.

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Reference

Bitcoinist, Dogecoin’s Price Drop Laying The Groundwork For A Major Upside Move, A New All-Time High Close?, accessed March 12, 2025.

Author: IPR