TLDR
- Dogecoin price is currently hovering around $0.166, just under the critical $0.17 resistance level
- Technical analysts identify $0.17 as a key breakout point that could trigger a run toward $0.21 and possibly $0.29
- Current technical patterns show similarities to those preceding DOGE’s 2021 rally to its all-time high of $0.7376
- The current circulating supply of 148.83 billion DOGE would require a market cap of $148 billion to reach $1
- Recent market indicators show positive momentum with increased trading volume and bullish sentiment in derivative markets
Dogecoin is showing signs of a possible price surge after a lengthy period of low momentum. Currently trading around $0.166, DOGE sits just below the crucial $0.17 resistance level that analysts are watching closely.
Technical signals and market indicators suggest that a significant price movement may be imminent, with some experts drawing parallels to patterns seen before Dogecoin’s historic 2021 rally.
DOGE Price
The popular meme coin has gained attention from technical analysts who point to multiple signs of building bullish momentum. If DOGE can secure a weekly close above the $0.17 resistance, it could open the door to higher price targets in the coming weeks and months.
On social media platform X, analyst Ali Charts highlighted $0.17 as the critical resistance level to watch. According to Ali, breaking above this threshold could trigger a price run toward $0.21 and potentially even $0.29, provided DOGE maintains support at the $0.13 level.
#Dogecoin $DOGE is gearing up for a big week. A close above $0.17 could open the door to $0.21 or even $0.29, as long as it holds the key $0.13 support. pic.twitter.com/oUnTLRqe3D
— Ali (@ali_charts) April 14, 2025
Supply Challenges for Reaching $1
One of the main obstacles for Dogecoin reaching new heights is its expanding supply. In 2021, when DOGE hit its all-time high of $0.7376, the circulating supply was approximately 108 billion coins, resulting in a market capitalization of around $80 billion.
Today, that supply has increased by more than 40%, with the total now standing at 148.83 billion DOGE. This expanded supply creates new challenges for price appreciation.
For Dogecoin to revisit its former peak of $0.7376 with the current supply, the market cap would need to exceed $110 billion. Taking this further, reaching the symbolic $1 mark would require a market capitalization of approximately $148 billion.
While this represents a substantial increase from current levels, some analysts believe it remains possible during a strong bull market with widespread adoption and community support.
Technical Patterns Echo 2021 Rally
Another analyst, Javon Marks, shared observations about DOGE’s current technical formation resembling patterns seen before its massive 2021 rally. According to Marks, if history repeats itself, Dogecoin could experience a surge of 200% to 330%.
This analysis adds weight to the possibility of a breakout in the months ahead and supports more optimistic long-term price predictions well above the previous all-time high of $0.73.
$DOGE (Dogecoin) looking ready to put on yet another magical bullish performance to NEW ALL TIME HIGHS!
This can result in an AT-LEAST +200% to +330% move above $0.73 ⤴️… pic.twitter.com/tCRCtPzrGq
— JAVON⚡️MARKS (@JavonTM1) April 13, 2025
The current price structure appears to reflect past accumulation phases that preceded major upward movements. This pattern recognition has contributed to growing optimism among some technical analysts watching the meme coin.
Current technical indicators are beginning to shift toward a bullish stance, though they still reflect some caution among traders. A confirmed move above the $0.17 mark would be seen as a clear signal of changing momentum.
Market Data Shows Building Momentum
Recent market data provides additional support for a potential Dogecoin rally. Trading volume has surged 16.12% to reach $2.93 billion, while options volume has climbed an impressive 87.59% in just 24 hours.
The spot market has shown strong buying interest, with traders reportedly purchasing $8.9 million worth of DOGE. This follows several consecutive days of buying activity, suggesting sustained interest rather than a temporary spike.
Derivative market indicators also point to positive sentiment. Both the Open Interest-Weighted Funding Rate and the Volume-Weighted Funding Rate stand at 0.0071%, indicating that unsettled contracts are predominantly held by long traders who anticipate price increases.
The Long-Short Liquidation Ratio shows higher losses among sellers compared to buyers, with sellers incurring losses totaling $630,000. This suggests increased buyer confidence in the market, with traders willing to pay premiums in expectation of future price growth.
On the weekly chart, Dogecoin has reached an ascending support line that has previously acted as a major price catalyst. This technical level prompted the recent market high of $0.48 and could serve as a launching pad for the next move upward.
If this support holds, analysts suggest the rally could reach between $0.22 and $0.48, depending on overall market conditions. Breaking above $0.22 could accelerate momentum toward the $0.38 level, which contains major liquidity clusters.
For now, maintaining the $0.13 support level remains crucial for sustaining bullish momentum. A drop below this zone could stall progress and delay any potential breakout.
