Dogecoin Price Spikes Today (March 19, 2025) – Is a Major Breakout Coming?

Jakarta, Pintu News – Dogecoin DOGE2.51%->Current DOGE PriceRp 2.7222.51%Market CapRp 914,37 TriliunTrading VolumeRp 74,07 TriliunCirculating SupplyRp 147,24 Miliar price showed positive movement on March 19, 2025, stealing the attention of crypto investors and traders. After experiencing a long period of correction, DOGE is now starting to show signs of recovery.

Many are wondering, is this the start of a new bullish trend or just a temporary bounce before heading back down?

Dogecoin price rises 0.72% in 24 hours

On March 19, 2025, the price of Dogecoin (DOGE) recorded a slight increase of 0.72% in 24 hours, trading at $0.1678 or the equivalent of IDR 2,780. DOGE had its highest level at IDR 2,797 and its lowest level at IDR 2,707.

At the time of writing, Dogecoin’s market cap stands at around $24.94 billion, with trading volume dropping 15% to $922.29 million within 24 hours.

Read also: Ethereum Price Edges Higher Today (3/19/25) – Is This the Start of a Major Bull Run?

DOGE Price Analysis

According to a CCN report (3/18/25), the price of DOGE has completed an extended five-wave Elliott Wave pattern, with a peak at $0.486. After that, the price experienced an ABCDE correction pattern, which ended in the form of a descending wedge.

The final stage of this correction found support at $0.145, slightly below the 0.786 Fibonacci retracement level, which historically often serves as a strong price reversal zone.

A break of the descending wedge pattern would be an indication that bullish momentum is starting to return.

However, the price still faces resistance at the $0.175 level, which is the 0.786 Fibonacci retracement of the previous downward movement. If DOGE manages to break this level, then confirmation of a trend reversal could occur, opening up rally opportunities towards $0.215 and $0.24.

The Relative Strength Index (RSI) has recovered from oversold conditions since March 11, which further supports a potential trend reversal. If the RSI continues to rise and the price is able to hold above $0.167, DOGE could potentially enter a new uptrend.

Conversely, if the price fails to maintain the support level, DOGE could experience a further drop to $0.16.

Dogecoin Price Prediction

The 1-hour chart (3/18/25) shows a potential breakout structure for DOGE, where the price has formed a small higher low. This pattern could be an early indication of an impulsive wave, potentially taking DOGE into wave 3 in a five-wave bullish pattern.

Also read: 11 Crypto to Watch for the Next Bull Run, According to Experts

On Tuesday, DOGE is testing support at $0.167, which must be defended for bullish momentum to be maintained. Meanwhile, key resistance is at $0.174, which coincides with the 0.786 Fibonacci retracement of the latest correction.

If the price manages to break this level, then validation for wave 3 will occur, with the next Fibonacci targets at $0.194 (1.0 extension), $0.203 (1.272 extension), and $0.227 (1.618 extension).

Conversely, if the price fails to break $0.174 and drops below $0.161, then the bullish scenario will be invalidated, opening up the risk of further downside.

On the 1-hour chart, the RSI is still in neutral, which signals a consolidation phase before the next move. If the RSI rises above 50, it will be an additional confirmation that the bullish momentum is getting stronger.

Overall, DOGE is in the early stages of a potential trend reversal. Confirmation of a breakout above the resistance level would strengthen the bullish signal, while failure to hold the support level could lead to further consolidation or price declines.

Key Dogecoin Levels to Watch Out For

• Nearest Resistance: $0.174 (0.786 Fibonacci retracement).
• Major Resistance: $0.1875 (major breakout level).
• Major Resistance: $0.2278 (Fibonacci extension 1.618).
• Nearest Support: $0.167 (descending wedge breakout retest).
• Critical Support: $0.161 (structure invalidation level).
• Short Term Target for Wave (iii): $0.203, if momentum continues.
• Invalidation Zone: If the price drops below $0.161, it signals the risk of a deeper drop.

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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:

• CCN. Dogecoin (DOGE) Price Pattern Suggests a Bullish Phase Might Be Starting. Accessed on March 19, 2025