Dogecoin (DOGE) is once again capturing traders’ attention as technical patterns point to a potential bullish reversal, even as whale sell-offs and weakening momentum cloud the short-term outlook.
After weeks of consolidation and muted trading activity, analysts believe Dogecoin’s price could be nearing a decisive turning point. Emerging bullish signals—such as a possible RSI crossover and a long-term cup-and-handle setup—are rekindling hopes that Dogecoin might stage another rally reminiscent of its past explosive runs.
Dogecoin Holds Key Support Amid Weak Momentum
DOGE continues to hover near a crucial support zone as traders assess whether the meme-inspired cryptocurrency can mount a comeback after weeks of subdued momentum. The coin currently trades around $0.18, reflecting an 11% weekly decline driven by declining active addresses and increased whale outflows.
Despite short-term weakness, technical indicators suggest that Dogecoin’s price may be nearing a potential inflection point. For the fourth consecutive week, the cryptocurrency has held around the 0.5 Fibonacci retracement level at $0.1919, a price area that has historically served as a strong foundation for rallies.
Dogecoin (DOGE) has now tested the 0.5 log-scale Fibonacci retracement for the fourth consecutive week on virtually no volume, suggesting a potential breakout pivot in waiting. Source: Cantonese Cat via X
According to market analyst Cantonese Cat, “low trading volume at key Fibonacci levels often precedes sharp volatility.” This observation aligns with Dogecoin’s current pattern—tight consolidation on low volume could signal the calm before another major breakout.
Technical Setup: Cup-and-Handle and RSI Cross Signal Bullish Potential
Crypto analyst Mikybull Crypto, known for his contrarian macro takes, recently highlighted a bullish RSI crossover on the DOGE/BTC pair and the emergence of a cup-and-handle pattern, both of which historically preceded Dogecoin’s major rallies.
MikybullCrypto signals a potential DOGE breakout amid a drop to $0.18, whale outflows, and a $55M transfer. Source: Mikybull Crypto via X
“The multi-year descending trendline on DOGE/BTC is approaching a critical breakout zone,” the analyst noted, adding that “if history rhymes, we could see a sustained move toward the $1 target price.”
Other technical analysts, including Trader Tardigrade, see a repeating fractal pattern similar to setups from Dogecoin’s previous rallies. The pattern shows false breakdowns followed by strong reversals—a scenario that could once again play out if buyers defend the $0.15–$0.17 support zone.
If the pattern continues as before, the Dogecoin price forecast suggests a medium-term target between $0.40 and $0.45, nearly doubling from current levels.
Key Levels to Watch: Support and Resistance Zones
Dogecoin’s chart currently shows clear support around $0.18–$0.19, corresponding to the 0.5 Fibonacci retracement level. A sustained weekly close above $0.20 could shift sentiment bullishly, opening the door toward $0.26, where the 0.618 retracement aligns with prior resistance.
Conversely, a drop below $0.18 might confirm a short-term breakdown, potentially sending DOGE toward $0.14, the 0.382 retracement level—an area where long-term buyers have historically re-entered.
Momentum indicators like RSI and MACD remain neutral, suggesting a balanced market where both bulls and bears are awaiting confirmation.
Market Dynamics: Sentiment and Whale Activity in Focus
The recent stagnation in Dogecoin’s price comes as broader meme coin enthusiasm cools. While Bitcoin holds near $66,000, traders have shown less appetite for high-volatility assets like Dogecoin. Whale wallets have reduced their activity, and social media mentions of DOGE have dropped significantly compared to earlier in 2024.
Dogecoin was trading at around $0.18, down 4.96% in the last 24 hours at press time. Source: Brave New Coin
However, Dogecoin’s cultural relevance and recurring speculation around potential integration with X Payments—the rebranded Twitter platform associated with Elon Musk—continue to underpin long-term optimism. Any hint of adoption in that ecosystem could reignite the Dogecoin rally, similar to previous Musk-driven surges.
As Victoria Bazir from The Tradable noted, “Dogecoin’s chart shows a familiar setup that once preceded explosive gains. If critical supports hold, the same story could unfold again.”
Looking Ahead: Can Dogecoin Reach $1 in 2025?
Analysts remain divided on whether Dogecoin can reach $1, but the consensus is that current conditions resemble previous accumulation phases before major uptrends. The combination of a potential RSI crossover, cup-and-handle formation, and long-term Fibonacci support provides a technically sound case for recovery.
Still, traders caution that without renewed trading volume or a major catalyst—such as Elon Musk commentary or institutional inflows—the Dogecoin price prediction for 2025 hinges on whether broader crypto sentiment improves.
For now, Dogecoin appears to be coiling for its next major move. If momentum returns and market confidence strengthens, the meme coin’s next breakout could once again surprise skeptics—just as it has done in past cycles.