Dogecoin Price Analysis: DOGE Down 20% in a Week, What’s Next?

The leading meme cryptocurrency Dogecoin (DOGE) has experienced a sharp decline over the past week, dropping over 20% to trade at $0.31, marking its steepest weekly decline among top-10 cryptocurrencies.

Dogecoin Price Analysis: DOGE Down 20% in a Week, What's Next?

The downturn comes amid a broader cryptocurrency market correction that has seen Bitcoin BTC/USD retreat 12% from its recent all-time high above $108,000.

Dogecoin Price Action

DOGE/USD fell temporarily to $0.267 on Friday, its lowest level in more than a month, then showed a weak rebound to present levels. Though it has lost a lot of momentum since hitting a three-year high of $0.48 in early December, Dogecoin remains up 233% year over-year despite the current dip.

With rivals like Dogwifhat (WIF) down 32% and Floki (FLOKI) and Pepe (PEPE) down 27%, the drop seems to be a part of a larger correction in the memecoin ssector. Shiba Inu SHIB/USD has matched the 23% weekly drop in DOGE.

DOGE/USD Technical Analysis

DOGE/USD

 

Recent technical analysis reveals Dogecoin is interacting with its Gaussian Channel, a fundamental metric for determining degrees of price support and resistance. Previously a support level during corrections, DOGE has been trading above the mid-band of the Gaussian Channel since October, according notes made by crypto expert Trader Tardigrade.

With $0.355 looming as a critical resistance level to keep an eye on, the fast rebound from the $0.267 low to $0.34 shows great buying interest at lower levels. Another powerful surge might be set off by a breakthrough above the upper limit of the channel.

Dogecoin Price Predictions for 2025

Several analysts have optimistic long-term predictions for DOGE despite the present recession. Dogecoin is expected to reach $1.12494 in 2025 based on CoinCodex figures. With an even more bright prediction, Digital Coin Price suggests DOGE may reach:

  • Minimum price: $1.20
  • Typical trade price: $1.34
  • Maximum value: $1.48 by 2026

Catalysts and Risk Factors Affecting the Dogecoin Rally

Several factors could influence DOGE’s future performance:

Bullish Catalysts

  • Elon Musk’s continued support, with Tesla and SpaceX accepting DOGE for merchandise
  • Musk’s upcoming role in the new administration’s Department of Government Efficiency (D.O.G.E.)
  • Strong institutional interest and whale accumulation

Risk Factors

  • Current whale movements suggesting potential selling pressure
  • Historical volatility of meme cryptocurrencies
  • Broader market sentiment and regulatory developments
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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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