Dogecoin currently trading at $0.17, with recent gains of 10% over the past week
Technical analysis shows bullish divergence patterns similar to those preceding previous rallies
Some analysts predict DOGE could reach $0.50 in the next 2-3 months
SEC approval of a Dogecoin ETF could potentially push price to $0.43 (145% increase)
Price currently faces resistance at $0.20, with key technical levels to watch
Dogecoin, the popular meme cryptocurrency, has been showing signs of strength recently, trading at $0.17 with a 10% gain over the past week. Technical analysts are pointing to patterns that suggest a potential price increase in the coming months, though the coin faces several key resistance levels.
The digital asset has recorded an 11% increase over a 14-day period, building momentum after finding support at lower levels. This recovery comes as the broader crypto market shows signs of stabilization following recent volatility.
According to analysis from Crypto Bio, Dogecoin’s chart has developed two separate bullish divergence patterns. The first occurred between June and August 2024, when prices dropped to between $0.07 and $0.09 while the Relative Strength Index (RSI) made higher lows.
$DOGE is waking up. The same signs, the same setup.
This pattern preceded a substantial rally that saw DOGE climb above $0.40 by December 2024. Now, a similar pattern has emerged between March and April 2025.
Although Dogecoin’s price reached lower lows near $0.13 recently, the RSI once again produced higher lows. Based on these technical features, some experts suggest DOGE might reach $0.50 over the next two or three months.
Despite exciting claims about new “Dogecoin millionaires,” the numbers present a more realistic picture. Assuming a price of $0.50, a $10,000 investment would grow to approximately $27,530 – a gain of $17,530.
To actually become a millionaire if DOGE reaches $0.50, an investor would need around 2 million coins, currently valued at about $360,000. This highlights the substantial capital required to achieve the “millionaire” status often used to attract potential investors.
Another analyst, “abermix,” notes that Dogecoin is currently following a long-term parabolic trendline that began around $0.05 during 2022-2023. Despite several attempts to fall below this curve at various price levels ($0.06, $0.08, and $0.14), DOGE has consistently rebounded to maintain position above the line.
$doge is conforming to this parabolic trendline at the moment
The price is trading slightly below both short-term and long-term exponential moving averages (EMAs). Experts believe that a breakout above $0.20 would confirm a larger trend reversal and open the door for further advances.
According to reports from late April, Dogecoin has broken out of a “falling wedge” formation that had kept it in a downtrend for several months. Previous resistance levels were tested in February at $0.28 and in April at $0.16.
The daily chart shows that DOGE bottomed at $0.1292 earlier this month before rebounding to a high of $0.1925. This recovery happened as Bitcoin and other altcoins rallied after Trump softened his stance on China and indicated he wasn’t considering firing Jerome Powell.
The RSI and MACD indicators have moved downward, suggesting the coin has lost some momentum. This implies that DOGE price has a neutral outlook currently, with potential to either continue its rally or resume its downtrend.
Price action will depend on key levels. A clear break above the resistance at $0.2050, April’s highest swing, would confirm a bullish breakout and lead to more gains. Conversely, a drop below the year-to-date low of $0.1292 would invalidate the bullish outlook and potentially lead to a collapse to $0.10.
Potential Impact of SEC ETF Approval
A Dogecoin ETF approval could push the price significantly higher, potentially to $0.4336, the peak reached on January 18 – approximately 145% above current levels.
The likelihood of this happening appears reasonable, as Polymarket odds of a DOGE ETF approval have jumped to over 57%. Analysts believe approval chances are high because Dogecoin is a proof-of-work network like Bitcoin and is not classified as a security.
However, there’s uncertainty about whether Dogecoin funds would attract substantial investor inflows. Public data shows investors have primarily focused on Bitcoin ETFs, which have attracted over $38 billion, while Ethereum funds have received less than $2.5 billion.
DOGE’s price will also depend on Bitcoin’s performance. Historically, DOGE and other altcoins thrive when Bitcoin is in a strong uptrend. The ongoing recovery shows promise, with BTC jumping to $95,000 from its recent low of $74,000.
Despite Dogecoin’s impressive $26 billion market cap, on-chain metrics show some concerning signs. The Network Value to Transaction (NVT) ratio has reached a three-month high, indicating market cap is outpacing on-chain transactions.
Network activity remains sluggish, with both new and active addresses below pre-election levels. During November’s breakout when DOGE surpassed $0.40, new addresses exceeded 100,000. Today, that number sits at just 12,629.
Dogecoin was recently showing signs of overvaluation, yet options volume increased by 9.11%. Derivatives Open Interest hit a monthly high of $1.87 billion, with significant market participation.
DOGE currently trades at $0.1757, remaining below the critical $0.20 resistance level that many analysts consider key for continuing its upward momentum.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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