Dogecoin Price Slips 4% – Can DOGE Bulls Reclaim The $0.18 Mark Soon?

The Dogecoin price (DOGE) has plunged a whopping 4% to $0.1729 in the past 24 hours, as the crypto market as a whole drops 1% to $2.89T. The dog-themed meme coin has established strong support at $0.16, as bulls attempt a recovery. Let us dive into the DOGE market analysis and discover whether the meme coin will rebound toward $0.18 or may extend further declines. 

DOGE Market Outlook: Will $0.16 Support Hold?

On April 23, Dogecoin price exceeded $0.1700 to pull past essential resistance areas before reaching $0.1852 highs. The price of DOGE reached its highest point, then retraced below $0.1800 and $0.1750. However, the bulls have established a strong support at $0.1687 as this level is a crucial psychological area. Past price stability within this range seems uncertain to continue at present. Meanwhile, various crypto analysts are optimistic about a potential rally in the market. According to TraderTardigrade, the DOGE/BTC has broken out of a descending trendline, indicating that Dogecoin is ready for a new surge. 

Chart 1- DOGE/BTC breakout, provided by TradeTardigrade, published on X, April 23, 2025.

Dogecoin traders closely observe whether the cryptocurrency will sustain its position above $0.1687. The absence of sustained support might cause additional price falls, reaching $0.1550 or lower levels. If DOGE maintains its position above the support area of $0.1650, it can potentially breach the resistance zone at $0.1800.

The bulls require Dogecoin to surpass the resistance zone at $0.1800 to establish market control. The price has encountered major resistance in recent trading dynamics at this mark. Many market participants wait near the current price levels to observe if Dogecoin will initiate an upward breakout.

Dogecoin Technical Indicators Suggest a Potential Upside

The Dogecoin technical indicators RSI and MACD should be vital for traders who want to assess DOGE price movements. The RSI currently showcases a slight retracement, sitting at 54.34. Moreover, there is still more room for the upside before the meme coin is considered overbought. Notably, the bullish MACD indicator calls for traders to rally behind DOGE. 

Moving beyond $0.1800 will create opportunities for Dogecoin to grow its price. On the next resistance at $0.1850, DOGE establishes a position, and the coins may attempt to hit the $0.1920 level. Traders may achieve added profits if the meme coin maintains positive momentum and reaches the $0.200 price point. Any continued upward movement from Dogecoin depends heavily on the strength of the resistance it encounters because $0.1650 stands as its main support for an upward trajectory.

Chart 2- Dogecoin price chart, provided by Emmaculate, published on TradingView, April 24, 2025.

The anticipated price jump from $0.1650 requires traders to recognize potential bearish market moves. If the $1800 resistance key proves too strong, the dog-themed meme coin risks a new price decrease. Two vital support zones for monitoring are $0.1720 and $0.1705. If prices surpass the current support levels, the accelerating downturn will reach the $0.1550 region.

What’s Next For DOGE?

Dogecoin price movements in the coming days will be decisive due to conflicting signals displayed by technical indicators. The future price movement for Dogecoin may rise above the $0.1650 support before climbing further, or the bears might force it towards lower levels. In the meantime, traders and investors should cautiously monitor the support and resistance levels, as a breakout in either direction will determine DOGE price movement. 

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