TLDR

• Dogecoin currently trading around $0.17, down 64% from December 2024 peak
• Analysts predict DOGE could reach $1 between 2025-2027, with $5 possible by 2034
• Technical analysis shows an Ascending Triangle pattern forming, suggesting potential breakout
• DOGE wallet addresses have increased by 1.24% since February, with active addresses reaching 150,000
• Short-term price target of $0.29 according to some analysts, while long-term predictions remain bullish

Dogecoin has experienced a steep decline since reaching its three-year high of $0.4843 in December 2024. The meme coin has dropped 45.30% year-to-date and is currently trading around $0.17, marking a 64% decrease from its December peak.

Despite this bearish performance, many market analysts remain optimistic about DOGE’s future price potential. Several experts have set price targets ranging from $1 to as high as $10 for the cryptocurrency.

Dogecoin DOGE Price

Analysts believe Dogecoin could reach the $1 mark between 2025 and 2027, requiring a 488% increase from current levels. This timeline assumes a resumption of the bull market and increased meme coin popularity.

For the more ambitious $5 target, which would require a 2,841% price increase, the projection extends to between 2029 and 2035. This longer timeline accounts for the need for institutional interest and broader adoption.
 

Analysts Views

Technical analysis from market expert Trader Tardigrade points to potential short-term recovery. An Ascending Triangle pattern has formed on the 4-hour chart, which typically precedes bullish breakouts.

#Dogecoin daily candle closed.
It has just entered Distribution phase in the "Power of Three" (PO3) pattern 🔥$Doge $1 is a reasonable target in this pattern 🚀 pic.twitter.com/AoVdmTnwOl

— Trader Tardigrade (@TATrader_Alan) January 4, 2025

This chart pattern features a horizontal resistance line combined with a rising support line, suggesting DOGE may be building momentum for an upward move. If a breakout occurs, Trader Tardigrade predicts DOGE could rebound to the $0.20 level.

Last week’s candlestick chart showed a Doji Candle formation, which is often associated with trend reversals. This technical indicator adds weight to the argument that DOGE’s downtrend may be coming to an end.

On-chain metrics also show positive signs for Dogecoin. According to data from Santiment, wallets holding at least 1 million DOGE have increased by 1.24% since February, with 62 new wallets joining this category.

Daily active addresses have reached over 150,000, the highest level since mid-November last year. This increase in wallet activity often precedes price movements, suggesting growing interest in the cryptocurrency.

Another analyst, Igor Bondarenko, has identified the 20-day exponential moving average (EMA) as a key level for DOGE. If the price breaks above this level, Bondarenko predicts DOGE could reach $0.23 and potentially $0.29 in the short term.

#Dogecoin Price Analysis

🐶 $DOGE approaches $0.19 (20-day EMA). A breakout could drive DOGE to $0.23 & $0.29. If rejected, a drop below $0.14 could send it to $0.10. pic.twitter.com/PWsOnK97ii

— Igor Bondarenko (@bondar58166) March 18, 2025

However, if DOGE fails to break above the EMA, it could drop below $0.14 and potentially fall to $0.10, highlighting the volatility and risk associated with cryptocurrency investments.

Long-term predictions for Dogecoin remain generally optimistic. Some analysts have made bold claims about future prices, with one even suggesting DOGE could reach $20 in the coming months.

The potential filing of a Dogecoin ETF application by BlackRock is seen as a possible catalyst for price growth. Institutional interest could help transform Dogecoin from a meme coin to a cryptocurrency with real-world applications.

Cryptocurrency analysts using the pseudonyms DOGECAPITAL and Trader Tardigrade have expressed confidence that DOGE could eventually reach $80 based on cyclical patterns observed from 2021.

For now, Dogecoin continues to trade around the $0.17 mark as investors and analysts watch for signs of the next major move.

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