TLDR
- Dogecoin (DOGE) is testing the $0.1650 support level and attempting to recover toward $0.180
- Analysts predict a potential 157% price surge to $0.434 if DOGE breaks above $0.185
- Strong support exists between $0.16-$0.17, with some analysts projecting a climb to $0.60
- Whale accumulation and increased network activity support bullish momentum
- The $0.139 level is considered a critical “make-or-break” support zone for DOGE’s next big move
Dogecoin is currently testing key support levels after a recent decline while positioning itself for what analysts believe could be a significant price movement. The popular meme cryptocurrency dropped below several support zones but has begun showing signs of recovery.
DOGE price started declining below the $0.1750 zone, following similar patterns to Bitcoin and Ethereum. The cryptocurrency dipped below the $0.1720 and $0.1700 support levels and briefly went under $0.1650.
A low point was established at $0.1646, but the price has since begun to recover. Traders pushed DOGE above the $0.1680 level and the 100-hourly simple moving average, indicating a potential comeback.
Technical Analysis
Technical analysis shows a bullish trend line forming with support at $0.1680 on the hourly chart. This pattern suggests the price could gain momentum if it clears resistance at $0.1750 and $0.1800.
Dogecoin has been trading within a multi-month falling wedge pattern since its January peak of $0.4350. This pattern has formed lower highs and lower lows, creating a narrowing channel that could lead to a breakout.
The recent surge to $0.18 pushed DOGE to the edge of this wedge pattern. Crypto analyst Carl Moon believes the meme coin is approaching a structural breakout that could trigger a sharp rally.
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
According to Moon, if DOGE closes above $0.185 on the daily chart, it could confirm a breakout. His projection suggests Dogecoin could rise 157% to $0.434 following a successful breakout.
This target aligns with the price high achieved before the inauguration of Donald Trump. However, DOGE must maintain this breakout level to avoid testing lower support zones again.
Another analyst, Whalesdesk, identified strong support between $0.16 and $0.17, which has prevented further downside. 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 would need to clear resistance zones at $0.30 and $0.45.
On-chain data confirms increasing whale activity, with large holders accumulating DOGE at current levels. Historically, major whale buying has preceded large price movements, signaling confidence among institutional and high-net-worth investors.
Network Activity
The Dogecoin network has seen increased user engagement and transaction numbers in recent weeks. Daily active addresses have risen, indicating more activity with DOGE coins.
Transaction volumes have also increased, suggesting growing demand for the token. Network activity often intensifies during price uptrends, and the current level of participation may support ongoing price movements.
Analyst Kevin highlighted the importance of the $0.139 level, calling it “the last line of bull market support.” He stated that maintaining this level is vital while higher timeframe indicators reset.
My #Dogecoin Community it is about that time where I must provide you the Alpha you all desire. If we take a look at #DOGE on the weekly time frame we can see that we received a weekly demand candle last week at the "Last line of bull market support" that I pointed out a couple… pic.twitter.com/VfjJ56I6KS
— Kevin (@Kev_Capital_TA) March 22, 2025
Kevin noted that the Weekly Stochastic RSI is already reset, while other indicators like the 3-Day MACD are approaching reset levels. He described the current price point as offering a “phenomenal” risk-reward ratio for traders.
The analyst tied Dogecoin’s prospects to Bitcoin’s performance, stating that as long as BTC holds above $70,000, the outlook for DOGE remains positive. Many traders are closely monitoring these conditions for signs of the next major move.
Immediate resistance for Dogecoin sits near $0.1755, with major resistance at $0.1780 and $0.1800. Breaking above $0.1800 could push the price toward $0.1850 and potentially $0.2000.
If DOGE fails to climb above $0.1755, it might face another decline. Support levels to watch include $0.1720, $0.1680, and the critical $0.1650 zone. A break below $0.1650 could send the price toward $0.1620 or even $0.1550.
