Dogecoin Price Up 3% Today (3/20/25): Onchain Indicators Hint at DOGE’s Big Spike!

Jakarta, Pintu News – The Dogecoin (DOGE) price is slowly approaching the $0.29 level after experiencing an earlier correction that wiped out its gains.

Although the overall trend is still bearish, analysts remain optimistic that DOGE could potentially experience a short-term rally to return to its highest level in the past month.

So, how is the Dogecoin price traveling today?

Dogecoin price rises 3.98% in 24 hours

On March 20, 2025, Dogecoin (DOGE) saw a 3.98% surge in just 24 hours, pushing its price to $0.1759 (approximately IDR 2,900). Throughout the day, DOGE fluctuated between a low of IDR 2,773 and a high of IDR 2,957.

At the time of writing, Dogecoin’s market cap stands at around $26.12 billion, with trading volume also rising 41% to $1.3 billion within 24 hours.

Read also: Ethereum Hits $2,000 Today (March 20, 2025) – Is a Massive Breakout on the Horizon?

Dogecoin Price Potentially Breaks $0.29

Although bearish pressure still dominates Dogecoin (DOGE), there is optimism that the dog-themed cryptocurrency could experience a price rally.

According to a post on X by Igor Bondarenko, the price of DOGE could potentially go up to $0.29 in the short term.

Bondarenko based his prediction on the DOGE’s movement close to its 20-day exponential moving average (EMA). As the DOGE gets closer to the EMA, analysts think that this level could be a support zone for traders looking to enter the market.

However, if DOGE fails to break the EMA level, the asset is at risk of further decline. Bondarenko warns that the Dogecoin price could fall to $0.10 in the near future if it is unable to hold above $0.14.

“In case of a breakout, DOGE could reach $0.23 to $0.29,” Bondarenko said. “However, if it fails, a drop below $0.14 could drag the price to $0.10.”

In the long term, Dogecoin price predictions remain positive. One analyst even predicted that DOGE could reach $20 in the next few months. Currently (3/20), the Dogecoin price stands at $0.1759, up more than 3.72% in the last seven days.

On-Chain Indicators Hint at a Big Spike for Dogecoin

Although short-term technical analysis predicts a small increase in the price of Dogecoin (DOGE), on-chain indicators show the potential for a large surge.

Read also: 4 Crypto You Should Dump Now If the Fed Holds Off on Rate Cuts!

One of the key indicators is that DOGE’s address activity has skyrocketed, with the number of unique users reaching 1 million and active addresses increasing by 400%.

In addition, fundamental factors also favor a potential rally to $50. One of the triggers is the filing of the DOGE ETF application by BlackRock, which could be a catalyst for a significant price spike. Other institutional investors are also starting to look at DOGE as the asset transitions from a mereecoin to a project with real-world applications.

Anonymous crypto analyst DOGECAPITAL and Trader Tardigrade remain optimistic that DOGE could reach $80, referring to the price cycle pattern that occurred in 2021.

“If the historical trend repeats, Dogecoin is likely to experience an upward reversal soon and enter the second phase of its parabolic surge,” DOGECAPITAL said.

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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. Dogecoin Price Eyes Breakout To $0.29 In The Short Term. Accessed on March 20, 2025