DOGE is hovering near $0.16, with analysts eyeing either a massive 250% rally or a steep drop to $0.06 if support fails.
Dogecoin DOGE $0.20 24h volatility: 1.1% Market cap: $29.92 B Vol. 24h: $1.47 B is currently trading at $0.1645, reflecting a 2.5% drop in the last 24 hours. This decline aligns with the broader cryptocurrency market correction following the US President Donald Trump’s announcement of a global 10% tariff proposal.
Despite the downturn, analysts remain optimistic about DOGE’s future trajectory. Crypto analyst Ali Martinez has noted on X that on the weekly price chart, the largest memecoin has been trading within a parallel channel since July 2018.
According to his analysis, if DOGE maintains its footing above the $0.16 support, it could lead to a major rally towards $0.50, a staggering 250% surge from current value.
#Dogecoin $DOGE is at a make-or-break level. If $0.16 holds, a rally to $0.57 could follow. If it fails, a drop to $0.06 becomes likely. pic.twitter.com/ksJjZIuN8D
— Ali (@ali_charts) April 3, 2025
However, should the token fail to hold this threshold, a steep correction down to $0.06 may be in play.
Meanwhile, Dogecoin’s futures open interest (OI) has dropped over 3% to $1.56 billion, indicating reduced speculative interest among traders. Derivatives trading volume has also seen a 40% jump to $5.24 billion, suggesting a volatile period for traders.
DOGE Price Outlook
On the DOGE daily price chart, the price has been consolidating near its lower band, suggesting a potential oversold condition. A bounce from these levels could trigger a mean reversion move towards the middle band near $0.176.
Source: TradingView
Meanwhile, the RSI also approaches oversold conditions but hasn’t yet entered extreme levels. If RSI, currently around 40, dips further below 30, it could signal a buying opportunity.
On the other hand, the MACD line is currently below the signal line and the histogram is still in negative territory. However, a slowing momentum in the bearish histogram bars hints at a possible reversal if buying volume picks up.
Source: TradingView
Additionally, the accumulation/distribution indicator suggests that despite recent price declines, some investors are still accumulating DOGE.
At the time of writing, DOGE boasts a market cap of $24.45 billion and sits at the 8th spot in the list of the largest cryptocurrencies. Analysts have been eyeing $1 for the meme coin since the past few years. The cryptocurrency is 77% down from its peak of $0.737, achieved in 2021.
next