Key Insights:
- Dogecoin’s recent recovery follows a significant price drop, with analysts predicting fluctuations.
- Whale activity has surged, with large holders accumulating substantial amounts of Dogecoin.
- Technical analysis suggests potential price rebounds, driven by key support zones and patterns.
Dogecoin, the popular memecoin, experienced a decline in value during the end of March 2025. Over the past seven days, the price dropped by 7.49%. However, it managed to recover in the following 24 hours, surging by 5% to trade at $0.1722.
This short-term recovery has sparked interest in what could be next for the crypto, as analysts weigh in with potential price predictions.
Bear Market and Potential Support Zones
Despite the recent recovery, a leading analyst on TradingView highlighted the ongoing presence of a short-term bear market for Dogecoin. The analyst observed that while the price recently broke through the channel resistance, it is likely to fall further before significant upward momentum can be expected. According to the analysis, Dogecoin may test its major support levels before any potential rally takes place.
The analyst pointed out two key support zones marked on the chart with green zones. The first support level is at $0.13548, and the second is at $0.09024. These zones are seen as potential areas where the price may find support and eventually bounce back. A retest of these support zones could set the stage for a stronger upward movement, possibly reaching higher resistance levels in the range of $0.30 to $0.40.
Notably, for Dogecoin to hit the $0.40 mark from its current price of $0.1722, it would need to rise by approximately 132.3%. This significant price movement reflects the volatility and potential for growth in the near term.
Whale Activity And Its Influence
In addition to technical analysis, another factor contributing to Dogecoin’s price movements is the activity of large holders, or whales. A report from Ali Martinez revealed that whales have been accumulating Dogecoin in significant quantities throughout March 2025. According to the chart provided by Martinez, over 220 million Dogecoin were bought by large holders during this period, which likely played a key role in the price increase seen towards the end of the month.
This surge in whale activity suggests that large investors may be positioning themselves for a potential price rally. Despite the fact they are betting on Dogecoin’s future, whale movements can hugely affect the price of such a memecoin. Overall, whale purchases continue to dictate the market, and smaller players should always stay alert on where these players are taking the price of Dogecoin.
Potential for Dogecoin Price Rebound
Long term technical analysis also gives direction on Dogecoin’s future movement amidst short term fluctuations. Market analyst Ali Martinez also kept their focus on Dogecoin’s behavior within a long term ascending channel visible in a weekly price chart that goes all the way back to 2014.
Historically, this channel has provided a strong dynamic support for Dogecoin as the price tends to rebound from the lower boundary.
Dogecoin is currently at the lower boundary of this channel, which has acted as support during previous cycles. A rebound from this level may lift the price higher and $0.45 could be reachable in the short term. Beyond this, the price could take an even closer look at the $2.4 mark or higher at $7.
In addition to that, another TradingView analyst has identified a cup and handle pattern, another bullish reversal pattern. This pattern is nearly complete after a long time. The handle structure suggests that accumulation is taking place and there is potential for an upward break leading to the price target of $0.88.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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