Could Dogecoin Skyrocket to $20? Ali Martinez’s Bold Prediction Might Shock You!

Jakarta, Pintu News – Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply-, as the market-leading meme cryptocurrency, has undergone a significant correction in recent months due to the overall crypto market crash.

However, technical indicators and on-chain data point to a possible trend reversal in the near future.

Tardigrade Trader crypto analysts revealed an important pattern in Dogecoin’s weekly chart, namely the formation of doji candles, which often signal a potential change in price direction.

Doji Formation and Potential Bullish Trend Reversal

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

Doji patterns, which are often associated with market uncertainty, have historically preceded major trend reversals. If this pattern repeats itself, Dogecoin (DOGE) could potentially experience a price recovery towards $1 or more.

Tardigrade Trader analysts highlight that Dogecoin’s current market structure resembles previous consolidation phases that preceded major price spikes. This historical pattern suggests that DOGE is poised for a significant upside move, provided it stays above the key $0.16 support.

Currently (3/20/25), Dogecoin is trading at $0.1743, having risen more than 3% in the last 24 hours. In addition, trading volume rose by 50%, while Open Interest increased by 1.60% in the last four hours, according to Coinglass data.

Although technical indicators and investor sentiment hint at a price surge to $1 – $1.50, renowned analyst Ali Martinez makes even bolder predictions, with a possible parabolic rally to $20 in the long term.

Accumulation by Whales Indicates Bullish Trend

Although the price of Dogecoin (DOGE) has dropped 30% in the last 30 days, on-chain data shows a positive outlook for the asset.

Blockchain analytics platform Santiment reports that the number of wallets with at least 1 million DOGE is on the rise, signaling accumulation by whales.

In addition, the number of active addresses reached the highest level in four months, indicating increased network activity as well as investor interest.

Read also: Top 3 Crypto Potentials According to ARK Invest CEO, Cathie Wood!

This surge in accumulation by large holders and increasing number of active wallets could be a strong foundation for DOGE price recovery. Plus, the potential approval of a spot-based Dogecoin ETF could further strengthen the bullish momentum ahead.

Dogecoin (DOGE) Price Analysis: Potential Breakout or Further Correction?

As of March 18, 2025, Dogecoin’s 20-day Exponential Moving Average (EMA) stands at $0.1875, while DOGE is trading at $0.1688, slightly below this important level.

If the price manages to break above the 20-day EMA, then DOGE has the potential to continue its upward trend further.

On the other hand, the Relative Strength Index (RSI) stands at 37.23, signaling that DOGE is getting closer to the oversold zone. Historically, this condition is often followed by a price recovery.

Some key resistance levels to watch include $0.1875 as the 20-day EMA, $0.2421 at the 0.786 Fibonacci level, $0.3036 at the 1.618 Fibonacci level, and a potential breakout zone above $0.40.

If Dogecoin manages to cross $0.1875 and break $0.24, there is a strong chance of heading towards $0.40 as the next target.

However, if DOGE fails to hold the support at $0.16, there is a possibility that the price will again test the lower support level at $0.14.

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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:

• Coinspeaker. Dogecoin Price Prediction: DOGE to $1? Here’s When and How. Accessed on March 20, 2025