Dogecoin (DOGE) has entered a critical phase after experiencing a significant pullback from recent highs. As previously reported, the meme coin is testing crucial support levels that could determine its next major move.
Price Action Shows Key Support Test
DOGE has declined from $0.25 to approximately $0.21, marking a 10% weekly drop. Despite the short-term bearish price action, prominent analyst Javon Marks maintains an extremely bullish outlook, projecting a potential 174% surge to $0.65.
Technical Analysis Reveals Bullish Setup
The technical case for DOGE’s upside potential stems from a critical trendline breakout in late 2023. This technical development has established a series of higher highs and higher lows, with strong support holding at $0.15. Multiple analysts have identified similar bullish patterns, suggesting significant upside potential.
Key Resistance Levels to Watch
Market analyst Ali Martinez identifies the $0.25-$0.26 range as the immediate resistance zone. This area previously served as support in December 2024 before converting to resistance in early 2025. A decisive break above this level could trigger the projected rally toward $0.65.
On-Chain Metrics Support Bullish Case
Supporting the bullish outlook, on-chain data shows remarkable growth in network activity:
- New addresses: 100% increase in 7 days
- Active addresses: 110% growth
- Zero-balance addresses: 155% surge
Price Targets and Risk Factors
While the primary target sits at $0.65 (174% upside), Marks also outlined potential extensions to $0.74 and $1.25. However, traders should note several risk factors:
- Immediate resistance at $0.26 must be cleared
- Volume confirmation needed above $0.28
- Support at $0.21 must hold to maintain bullish structure
FAQ Section
What is the next major price target for Dogecoin?
The primary target is $0.65, representing a 174% increase from current levels.
What key support level must hold for the bullish case?
The $0.21 level serves as crucial support that must hold to maintain the bullish market structure.
What on-chain metrics support the bullish outlook?
Network activity shows significant growth, with new addresses up 100%, active addresses increasing 110%, and zero-balance addresses rising 155% in the past week.