Dogecoin Price Prediction: Can DOGE Reach IDR97,800? Dogecoin Network Increases 400%!

Jakarta, Pintu News – Dogecoin (DOGE) experienced a significant spike in network activity with the number of active addresses increasing by 400%, reaching nearly 395,000. This increase demonstrates the growing user engagement in the Dogecoin ecosystem, despite the general volatility of the crypto market.

This surge was triggered by strong investor sentiment and speculation that Dogecoin could reach a price of IDR97,800 ($6) in the near future. Analysts also looked at technical signals from the Stochastic Relative Strength Index (RSI), which showed a potential bullish trend reversal based on historical patterns.

Factors Driving the Potential Rise in DOGE Price

Bullish Signal from Technical Analysis

On-chain analyst Ali Martinez revealed that the Stochastic RSI crossover on Dogecoin’s weekly chart has previously resulted in a price spike of up to 444%. If this pattern repeats, DOGE could potentially experience a rise of between 200% to 300%, with a target price of between IDR7,498 ($0.46) to IDR10,595 ($0.65).

Additionally, crypto analyst Marzell highlighted DOGE’s crucial support level at IDR2,404 ($0.1475). If the price holds above this level, there is a high probability of Dogecoin breaking out of the falling wedge pattern, which historically has often signaled the beginning of a major price surge.

Also Read: Ethereum Prediction: Recovery or Bearish Signal? Here’s the Mid-March 2025 Technical Analysis!

Dogecoin ETF Speculation Increases

Expectations of a Dogecoin Exchange-Traded Fund (ETF) have also been a major factor in the surge of active addresses. Stock exchange NYSE Arca has applied to the US Securities and Exchange Commission (SEC) to launch the Bitwise Dogecoin ETF, which will allow investors to gain exposure to DOGE without having to directly buy or hold it.

If this ETF is approved, demand for Dogecoin could increase dramatically, potentially pushing the price to higher levels. This is in line with previous trends, where the launch of ETFs for other crypto assets has driven significant price increases.

Can DOGE Reach IDR97,800?

Currently, the Dogecoin price is at around IDR2,892 ($0.1773), up 3.8% in the past day. After experiencing a recent price correction, DOGE rallied again and managed to cross the weekly resistance around IDR2,852 ($0.175).

If the bullish momentum continues and Dogecoin can maintain its position above the main support, then the price target of IDR48,900 ($3) to IDR97,800 ($6) predicted by Martinez becomes increasingly realistic. However, in order to reach those levels, DOGE needs to be able to break through higher resistance and maintain its long-term uptrend.

Conclusion: Is DOGE Worth Considering?

Dogecoin is currently in an interesting position with a surge in network activity and speculation towards an ETF that could drive demand. Technically, bullish signals are starting to emerge, but DOGE still needs to break some key resistance levels before reaching its ambitious target of IDR97,800.

For investors who wish to participate, it is important to pay attention to price movements around the support level of IDR2,404 and resistance of IDR3,883 ($0.238). If DOGE is able to cross these levels, a larger potential rally could occur. However, crypto market volatility remains high, so risk management remains an important aspect of investment decision-making.

Also Read: XRP Predictions and Impact on Crypto Market: 8% Drop After Positive Trend March 2025

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Crypto News Flash. Dogecoin Network Boom: DOGE Rally to $6? (Accessed March 17, 2025).
• Featured Image: Generated by AI