Highlights
After experiencing a good rebound, most meme coins are fluctuating within a range, while Dogecoin (DOGE) seems to want to continue maintaining a strong upward momentum.
However, some key indicators have not turned bullish, which means that if Dogecoin's price fails to stabilize at certain key levels, it may face larger adjustments.
Bitcoin recently rebounded and broke through the $100,000 mark, and this price breakthrough is expected to drive bullish sentiment in the market. Although other tokens have not been able to keep up with this momentum, Dogecoin is striving to maintain its upward trend.
Since the beginning of 2025, its price has been attempting to break through $0.4. Although recent whale movements suggest there may be significant volatility, from a technical perspective, it seems an overall correction may still be on the way.
So, what will happen to Dogecoin next? Will it rise healthily to hit $1 in 2025?
Many retail investors often pay attention to whale movements, believing this is an important signal for the next price trend. As the proportion of holdings increases, the market's optimistic view of Dogecoin is also strengthening, thereby positively affecting the price of DOGE. Starting from 2024, whales have been continuously increasing their holdings of Dogecoin and stopped increasing after November. These whale wallets have recovered and surpassed the holdings during the 2021 bull market. Currently, there are over 5,000 wallets holding more than 1 million DOGE, flashing strong bullish signals.
On the other hand, since the number of active addresses is still within a normal range, retail traders seem to have little interest in getting involved. The main reason is that the technical indicators have not provided a clear bullish signal. For example, the TD Sequential indicator still shows bearish, suggesting that price adjustments may occur.
Additionally, the weighted social sentiment is only around 0.60, which means that most people hold a pessimistic view on the upward potential of Dogecoin and have not seen much optimistic expectation.
So, what will happen to Dogecoin's price next?
The candlestick chart of Dogecoin indicates that the bulls are trying to maintain an upward trend, especially during the rebound process, consistently attempting to defend the 50-day moving average. These support levels provide a solid foundation for the price, but there has not yet been a strong rebound breaking through higher ranges.
This may be due to a decrease in trading volume, leading to insufficient momentum for the rebound. Meanwhile, the Relative Strength Index (RSI) has also stalled in its increase, further confirming the bearish sentiment in the market.
Despite these bearish signals, if Dogecoin can break through the 0.786 Fibonacci level and consistently hold above $0.4 in the next few hours, these bearish views may be suppressed.
This breakout could open the path for a healthy rise in Dogecoin, potentially reaching the 2024 high of $0.55, while a new high of $1 remains a significant target.