According to recent technical analyses, the biggest meme coin in the market, Dogecoin ($DOGE), is at a crucial price level. Some traders and analysts on X (Twitter) have noted critical resistance levels, which may determine whether the Dogecoin price will follow through with a breakout.
Some say that if such a breakout happens, Dogecoin’s price may surge by 100% in the short term.
Dogecoin Price Testing Multi-Resistance Area
A recent tweet from the technical analysis account “World of Charts” states that Dogecoin (DOGE) is currently testing a key resistance area. The chart shows a clear downward trendline that has acted as resistance for several months.
However, the Dogecoin price is now trying to break above this level, which could lead to a strong price increase.
The tweet suggests that if DOGE breaches this resistance, its price could potentially double, contingent upon market conditions and investor sentiment.
The breakout level is around $0.18 to $0.19. If Dogecoin surpasses this range, it could generate strong buying momentum, pushing the DOGE price to around $0.34 in the near term.
Historical Patterns Indicate a Potential Bull Run
Another analyst, Trader Tardigrade, has noted that Dogecoin’s current price action closely resembles past cycles. The analyst posted a tweet depicting a chart comparing Dogecoin’s current state with its historical market movements.
The analyst observed that Dogecoin’s price has experienced similar surges and buying behavior reminiscent of the 2017 and 2021 bull cycles.
If the pattern continues, there is a chance of a significant DOGE price increase, as has happened in the past. This means the price of Dogecoin now seems to be on the cusp of an upward shift after a prolonged stagnation.
Current Market Data Supports Bullish Sentiment
As of press time, DOGE is priced at $0.1847 on TradingView, having gained 5.69% in the past 24 hours. It has a market cap of $27.44 billion and is the 8th largest cryptocurrency.
Moreover, Dogecoin’s trading volume increased dramatically over the past 24 hours, by 123.45% to $1.58 billion. The boom in trading shows investors getting more interested, possibly driven by a wave of recently positive sentiment in the crypto market and hopes for a DOGE price pump.
On March 24, 2025, Dogecoin briefly traded at $0.1887, poised near a key resistance level highlighted by cryptocurrency analysts. If the Dogecoin price can keep this upward momentum and break through that level, it might lead to a major price increase.
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