Key Insights:
- Dogecoin prediction suggests that the meme coin could soar by 25% and reach the $0.24 level soon.
- Traders are over-leveraged at $0.1916 on the lower side and $0.20 on the upper side.
Despite a 25% price dip that saw Dogecoin (DOGE) break below its key support level, the meme coin is showing signs of a potential upside rally, but there’s a catch.
Following the notable dip, the price has moved sideways for the last five days and has been garnering significant attention from experts and analysts.
Experts’ Take on DOGE
Some experts see the recent dip as a retest of the symmetrical triangle pattern and suggest that DOGE is on the verge of a massive rally.
Meanwhile, another expert is making a bold prediction that the DOGE meme coin could hit $5. However, this bold Dogecoin prediction appears to be unachievable due to current market volatility.
At press time, DOGE was trading near $0.195 and has remained unchanged over the past 24 hours, similar to the previous four trading days.
During the same period, trader and investor participation has plummeted significantly. Data from CoinMarketCap reveals that DOGE’s trading volume dropped by 28% compared to the previous day.
Dogecoin (DOGE) Price Action and Technical Analysis
According to expert technical analysis, the Dogecoin prediction appears bullish as long as it holds above the ascending trendline support. This bullish sentiment remains despite DOGE falling below a key horizontal support at $0.205.
As per the daily chart, DOGE has consistently taken support from the ascending trendline and has shown an impressive rally since April 2025.
This time, however, the ongoing consolidation raises the question of whether the price will repeat its history or if the meme coin will break below this key ascending support.
Based on recent price action and historical patterns, if the memecoin holds above $0.185, the Dogecoin prediction suggests that it could soar by 25% and reach the $0.24 level soon.
However, if sentiment shifts and the prolonged consolidation fails to hold above the $0.185 level, the Dogecoin prediction could turn bearish, and the price may dip by 24% to reach the $0.143 level.
Additionally, DOGE’s Relative Strength Index (RSI) stands at 42.08, suggesting that the asset is nearing oversold territory — a zone that historically hints at potential trend reversals.
While not yet in extreme oversold conditions, this level indicates weakening bearish momentum, and if combined with a shift in market sentiment or confirmation of a bullish technical pattern, DOGE could be poised for a short-term rebound or trend reversal.
On-Chain Metrics Flashes Mixed Sentiment
With the current market structure and recent price dip, traders and investors have been found betting in the opposite direction, as revealed by CoinGlass.
Data from the spot inflow/outflow reveals that exchanges have recorded an outflow of $1.57 million worth of DOGE over the past 24 hours.
This substantial outflow amid price consolidation suggests potential accumulation. Additionally, investors and analysts typically see this as a sign of accumulation, which can lead to buying pressure and upside momentum.
Traders, on the other hand, are over-leveraged at $0.1916 on the lower side (support) and $0.20 on the upper side (resistance).
At these levels, they have built $16.21 million worth of long positions and $28.07 million worth of short positions. These substantial bets on the short side compared to the long indicate a short-term bearish outlook among traders.