Dogecoin Tanks 3% Today (3/21) — But Top Analyst Predicts It Could Still Soar to $1 Soon

Jakarta, Pintu News – Based on market analysis, the Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- price may be on the verge of a major rally, with the movement pattern resembling the 2017 cycle.

Detailed chart analysis shows that DOGE’s current price trend has similarities to its movement pattern in that year.

In 2017, Dogecoin experienced a price spike followed by a 115-day period of consolidation before rising again. The current cycle has lasted 119 days, which indicates a possible repeat of the previous pattern.

If this pattern holds, analysts expect the DOGE price to reach $1 by June. So, how did the Dogecoin price move today?

Dogecoin price drops 3.45% in 24 hours

On March 21, 2025, the price of Dogecoin (DOGE) recorded a decline of 3.45% in 24 hours, trading at $0.1694, equivalent to Rp2,800. DOGE had its highest level at Rp2,907 and its lowest level at Rp2,764.

At the time of writing, Dogecoin’s market cap stands at around $25.15 billion, with trading volume also down 32% to $883.74 million in 24 hours.

Read also: Ethreum Price Down 2% Today (3/21/25): Whale Crypto Withdraws $29 Million ETH!

Analysts Predict Dogecoin Price Could Reach $1 by June

Analyst Master Kenobi via the X platform (formerly Twitter) highlighted the possibility of Dogecoin repeating its historical price cycle. Based on his analysis, in 2017, Dogecoin experienced a 115-day consolidation period before experiencing a major surge.

Currently, the market structure is showing a similar pattern with a consolidation period that has lasted 119 days, which could indicate a new breakout phase.

This prediction is also supported by technical indicators. The Relative Strength Index (RSI) experienced sharp spikes during the initial rallies in both cycles, then corrected during the consolidation phase.

In 2017, after the RSI stabilized, DOGE prices surged again. The same pattern seems to be forming in 2024, reinforcing expectations of further potential price increases.

The historical price cycle further strengthens the argument about a potential rally. The price surge in 2017 came after a long accumulation phase-a pattern that now appears to be repeating itself. If this trend continues, analysts expect DOGE to reach $1 in the next few months.

Technical Indicators Hint at a Meme Coin Rally

Dogecoin (DOGE) price trend analysis shows that several technical indicators are currently in line with the 2017 price cycle. Moving Averages, RSI, and price action indicate that the current consolidation phase may be building momentum for the next big rally.

Read also: Whale Dogecoin is now aggressively buying, what is the impact on the DOGE price?

In addition, the Moving Average Convergence Divergence (MACD) indicator shows a possible bullish crossover, where the blue MACD line starts to rise and looks set to cross the orange signal line from below.

This crossover is a classic technical signal indicating increased bullish momentum, which is often considered a buy signal by traders.

Furthermore, the MACD histogram has turned blue, reinforcing the potential for an uptrend. When the histogram develops positively, it signals increased buying pressure that could push Dogecoin’s price higher in the near future. This development suggests that momentum is starting to shift to the bullish side, which could be the trigger for a price recovery.

In addition to MACD, the Awesome Oscillator (AO) indicator is also showing similar signals. The AO histogram is starting to change color from dark red to green, signaling that the bearish pressure is weakening and a trend reversal is likely.

If the AO continues to print green bars, it will confirm the bullish divergence, further strengthening the upside potential of DOGE prices.

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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. Analyst Reveals When Dogecoin Price Could Hit $1 Based on This Pattern. Accessed on March 21, 2025