Key Notes
- DOGE is trading at $0.1645, down 2.5% in the past 24 hours.
- Ali Martinez highlights a long-term parallel channel since 2018, with $0.16 as a key level.
- A breakout above $0.16 could propel DOGE to $0.50, while a breakdown risks a plunge to $0.06.
Dogecoin DOGE $0.16 24h volatility: 6.1% Market cap: $24.05 B Vol. 24h: $1.84 B is currently trading at $0.1645, reflecting a 2.5% drop in the last 24 hours. This decline aligns with the broader cryptocurrency market correction following the US President Donald Trump ’s announcement of a global 10% tariff proposal .
Despite the downturn, analysts remain optimistic about DOGE’s future trajectory. Crypto analyst Ali Martinez has noted on X that on the weekly price chart, the largest memecoin has been trading within a parallel channel since July 2018.
According to his analysis, if DOGE maintains its footing above the $0.16 support, it could lead to a major rally towards $0.50, a staggering 250% surge from current value.
#Dogecoin $DOGE is at a make-or-break level. If $0.16 holds, a rally to $0.57 could follow. If it fails, a drop to $0.06 becomes likely. pic.twitter.com/ksJjZIuN8D
— Ali (@ali_charts) April 3, 2025
However, should the token fail to hold this threshold, a steep correction down to $0.06 may be in play.
Meanwhile, Dogecoin’s futures open interest (OI) has dropped over 3% to $1.56 billion, indicating reduced speculative interest among traders. Derivatives trading volume has also seen a 40% jump to $5.24 billion, suggesting a volatile period for traders.
DOGE Price Outlook
On the DOGE daily price chart , the price has been consolidating near its lower band, suggesting a potential oversold condition. A bounce from these levels could trigger a mean reversion move towards the middle band near $0.176.
Source: TradingView
Meanwhile, the RSI also approaches oversold conditions but hasn’t yet entered extreme levels. If RSI, currently around 40, dips further below 30, it could signal a buying opportunity.
On the other hand, the MACD line is currently below the signal line and the histogram is still in negative territory. However, a slowing momentum in the bearish histogram bars hints at a possible reversal if buying volume picks up.
Source: TradingView
Additionally, the accumulation/distribution indicator suggests that despite recent price declines, some investors are still accumulating DOGE.
At the time of writing, DOGE boasts a market cap of $24.45 billion and sits at the 8th spot in the list of the largest cryptocurrencies. Analysts have been eyeing $1 for the meme coin since the past few years. The cryptocurrency is 77% down from its peak of $0.737, achieved in 2021.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
