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Dogecoin Price Prediction 2025: Will DOGE Reach $1 This Summer?
The market is undergoing a significant change in momentum, with the bulls taking the lead. From a broader perspective, the price of Dogecoin is still under negative influence, as this token has not risen above the 30-day high of nearly $0.2. However, the current trading setup shows that the bulls are gathering strength, holding the price of DOGE in an Accumulation range. This token has secured a market capitalization of $27 billion with a volume increase of 45%, while the price remains high, implying an increasing dominance of the bulls. Recently, the memecoin space has witnessed a strong increase in population. Previously, Dogecoin was the sole king of this space until other tokens like Shiba Inu or Pepe jumped in. Nevertheless, Dogecoin still continues to be the leading memecoin, although the growth remains limited in scope compared to other tokens. However, data from LunarCrush shows that Dogecoin continues to dominate in terms of social activity.
This shows that market participants remain optimistic as they still believe that the price of DOGE has the potential to rise above the current ATH and form a new ATH. Currently, this token is facing pressure on the strong resistance area near $0.183 after forming lower levels in an ascending triangle. Therefore, a breakout from here could initiate a new rally, targeting the next stop at $0.188.
The chart above shows the potential to rise to the resistance level between $0.1927 and $0.1992. However, the technical indicators suggest the possibility of a potential pullback or prolonged consolidation below the resistance level. There are two reasons: RSI indicates bearish divergence and CMF has been unable to rise above the resistance level it has held throughout March so far. However, these are expected to have a short-term impact on the price, as the buyers are preparing to maintain the trend regardless of the downward pressure created at regular intervals. Therefore, the price of Dogecoin (DOGE) is said to maintain a bullish consolidation trend to reach the level of $0.2, but only if it breaks through the important resistance level of $0.192.