The price of Dogecoin’s experienced a rebound to $0.186 after dipping from $0.185 to $0.15 earlier this week. This resurgence indicates that buyers are entering the market on lower prices, a signal some analysts interpret as a sustained strength in the meme cryptocurrency.
Analysts Observe Long-Term Trend Development
According to analyst Steph is Crypto, Dogecoin continues to follow what they describe as a “Legendary trend-line,” which spans three crucial price lows over several years.
This support line originated above $0.001 in early 2020, breached above $0.059 in 2024, and most recently dipped below to establish support around $0.14 in 2025. Each time the price encountered this line, it has bounced back upwards.
Those who remain invested in DOGE are “absolute legends,” Steph remarked in their analysis, which suggests a long-term price target of $10. This would result in a gain exceeding 5,000% from current levels.
#DOGECOIN pathway to $10!
If you’re still holding $Doge, you’re an absolute legend. pic.twitter.com/ZppO6UTzSK
— STEPH IS CRYPTO (@Steph_iscrypto) May 1, 2025
Daily Charts Indicate More Cautious Perspective
Other analysts present a more conservative forecast based on daily chart trends: Dogecoin typically rebounds from an ascending trendline, creating a pattern of higher lows. Their analysis suggests these rebounds often occur after false reversals that precede significant breakout movements.
Former Resistance Levels Turn into New Support
By examining longer time frames, another trend can be identified in Dogecoin’s price movement. According to analysis of three-day charts, prior high values are now functioning as support levels afterward.
This occurred when DOGE surpassed the $0.097 resistance late in 2023, later pulling back to test that same level as support in early 2024. A similar situation unfolded with the July 2024 high of $0.146, which became a support level by April 2025.
Future Price Projections Based on Historical Trends
The February peak of $0.29 in 2025 serves as another reference point that preceded the recent price decline. Although technical analysts had tested the $0.145 support level in April, they now anticipate $0.23 as the next key resistance level to watch.
If these trends hold true, some specialists believe Dogecoin may reach $0.80, surpassing its all-time high of $0.73.
Even though these forecasts are primarily based on technical chart patterns rather than fundamental factors, the predictability of Dogecoin’s price structure has captured the interest of certain cryptocurrency market analysts.
The rising trendline that has persisted across different market cycles is a crucial indicator that most traders are watching to evaluate the strength of DOGE’s current position.
Featured image from Unsplash, chart from TradingView
