The crypto market is in a frenzy again, and this time the most talked about topic is the meme coin Dogecoin. Dogecoin Price has surged nearly 27% over the past week, with a 9% gain in just the last 24 hours alone. Dogecoin is now around $0.225 – the highest level in the last two months.
So the question arises:
Why is the Dogecoin Price suddenly increasing? And what could happen next?
First of all – why is this surge happening?
Bitcoin crosses $100,000 mark again
Yes, you read that right. Bitcoin surged past $100,000 this week, climbing as high as $104,000. That’s only 5% short of its all-time high of $108,786. And when Bitcoin rises, other Altcoins are usually not far behind- Dogecoin Price has also been directly affected.
Strong growth in Ethereum too
Ethereum (ETH) has also risen by 32% this week, thanks to a significant network upgrade called “Pectra.” This positive energy spread to the rest of the market, and Dogecoin Price also benefited.
Return of Meme Coins
Along with Dogecoin, many meme coins like Moo Deng (MOODENG) and Peanut the Squirrel (PNUT) are also going up. It is clear from this that retail investors have become active again. This is supporting Dogecoin Price.
Why does Open Interest matter?
Dogecoin’s Open Interest has currently reached $2.52 billion. This shows that interest in DOGE is rising again in the futures market.
When both open interest and Dogecoin Price go up together, it is usually a sign of bullish momentum.
What are the Doge Price charts indicating?
Dogecoin reached around $0.23 on Saturday morning, then pulled back slightly. Since March 2 this is the highest Dogecoin Price.
The chart has some positive signs:
- Higher Lows: This means that every time DOGE falls, it stops above the previous low. This is a bullish signal.
- Falling Wedge Breakout: Renowned analyst Lingrid reported that DOGE has broken a falling wedge pattern—which usually forms before a big rally.
- Resistance Zone: The $0.19 level is very important. If DOGE crosses it with volume, the next target could be $0.21 and then $0.30–$0.32.
Continued higher lows and increased volume are good signs for Dogecoin Price.
But not everything is positive there are some risks too
$0.175 is a very important support level for Dogecoin. If Dogecoin Price drops below it and stays there, the next level could be $0.15—that is, a drop of about 25%.
Also:
- If the price goes up but the trading volume falls, the move will not be sustainable.
- If there is no social media hype, some people will think this is a boring phase—but that could be good!
Less hype, more growth?
Analyst Cryptohossel says that this time around Dogecoin has less social media hype, which might be a good sign. When meme coins suddenly gain attention, they tend to soar quickly.
If Dogecoin crosses $0.202 and the volume stays, then targets of $0.30 and then $0.32 are absolutely possible.
Is Dogecoin maturing now?
An analyst named Blockchain Baller says that this time Dogecoin Price is rising slowly and steadily. It is forming a “rounded base”—a pattern that precedes a major breakout.
If Dogecoin crosses $0.31, it may again attract the attention of retail investors—like it did in the previous bull run.
Doge Price Roadmap – Where Can It Go Next?
Short-Term Levels to Watch:
- Support: $0.175 → If this holds, bullish sentiment will prevail.
- Resistance 1: $0.19 → First breakout level.
- Resistance 2: $0.21 → Then $0.30 is likely.
- Final Magnet Zone: $0.31–$0.32 → Where FOMO can kick in.
Risk:
- If $0.175 is broken, Dogecoin could drop to $0.15.
- If volume does not increase, the rally could weaken.
Positive signs that could lead to further upside:
- Bitcoin hitting a new all-time high
- Dose of attention from social media or news like Elon Musk
- Overall resurgence of the meme coin sector
Is now a good time to invest in Dogecoin?
If you are thinking about investing or trading, keep these three things in mind when looking at Dogecoin Price:
- It is still a meme coin. Its fundamental value is low—most of the movement is based on sentiment, social media, and hype.
- Timing is important. When a coin is underrated and in an accumulation phase, it can be a good entry point.
- Be aware of volatility. Dogecoin can move up or down by 20-30% in a matter of hours. Risk management is important.
In simple terms:
Dogecoin is slowly heating up again. Dogecoin Price is showing strong signals in its charts, Bitcoin and Ethereum sentiment is supporting it, and the lack of hype could be its advantage.
But if the support breaks or the volume decreases, this rally could come to a screeching halt. Whether you are a long-term investor or a short-term trader, this could be the right time to keep an eye on Dogecoin Price.
However, if it fails to stay above the $0.175 support level, the Dogecoin Price could experience a steep drop possibly falling to $0.15. If this level is broken, Dogecoin could rally and reach $0.30, which many traders see as a mid-term target. But if it fails to hold above the $0.175 support level, Dogecoin Price could see a sharp decline potentially to $0.15.
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