Dogecoin Price Drop Today (March 17): Is a Massive $6 Surge on the Horizon? Crypto Analyst Ali Martinez Weighs In!

Jakarta, Pintu News – Despite a 1.16% pullback today, March 17, 2025, analysts remain bullish on Dogecoin’s future trajectory.

Notably, renowned crypto analyst Ali Martinez sees the potential for DOGE to surge to $6 in the near future. Could this dip be the perfect buying opportunity before a major breakout? Let’s dive into the key factors that could drive Dogecoin’s next big move.

Dogecoin price drops 1.16% in 24 hours

On March 17, 2025, Dogecoin (DOGE) experienced a 1.16% price correction over 24 hours, bringing its value down to $0.1723 (approximately IDR 2,821). Throughout the day, DOGE reached a high of IDR 2,886 and dipped to a low of IDR 2,718.

At the time of writing, Dogecoin’s market cap stands at around $25.57 billion, with trading volume rising 33% to $966.47 million within 24 hours.

Read also: Ethereum Stuck at $1,900 Today (3/17/25) – Is a Big Move Coming?

Will Dogecoin Price Parabolically Soar to $6?

Crypto market analysts are optimistic that Dogecoin’s price could skyrocket to $6 as bullish forces return, after bouncing off the $6 support level.

Renowned crypto analyst Ali Martinez shows the price movement of Dogecoin in a weekly time frame from 2015 to early 2025.

Technical analysis reveals that DOGE is trading within a long-term rising logarithmic channel bounded by parallel trend lines.

As seen in the image above, as long as DOGE stays above the crucial support level, it has the potential to continue its rally until it reaches $6 or even higher.

DOGE’s Active Addresses Jumped 400%

Based on on-chain data from Santiment, crypto analyst Ali Martinez highlighted a huge spike in Dogecoin (DOGE) network activity.

The report noted that the number of active Dogecoin addresses increased by 400%, reaching almost 395,000. This significant increase shows the growing interest in this popular meme coin.

In addition, Ali Martinez also highlighted the occurrence of a Stochastic RSI crossover in the Dogecoin price, which he called the starting point of a new bullish phase. A bullish crossover in the Stochastic RSI on Dogecoin’s weekly chart could signal a potential sharp rally, based on historical trends.

Previously, similar crossover patterns have triggered DOGE price spikes with gains of 88%, 187%, and even up to 444%.

Read also: 5 Cryptos that Went Up Today (3/13/25): Number 1 Altcoin Rocketed up to 174%!

Short-term Target for DOGE

While the expectation of a Dogecoin (DOGE) price spike to $6 may be too far away for now, DOGE still has the potential to record a 200-300% increase from current levels.

Renowned crypto analyst Marzell, in his latest technical analysis, highlighted a crucial support level for Dogecoin. According to him, keeping the $0.14750 level is crucial to support a bullish breakout scenario.

In addition, Marzell also noted that DOGE is showing positive signs of breaking out of the falling wedge pattern that it is forming. If this support level holds, he predicts a strong rally that could push DOGE prices to the $0.46 to $0.65 range.

An increase in DOGE user engagement could also provide the necessary boost for this meme coin to break the resistance level and initiate a larger bullish trend.

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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. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Will Dogecoin Price Rally to $6 As DOGE Active Addresses Jump 400%? Accessed on March 17, 2025