Can Dogecoin (DOGE) Price Reach $100? Check out the Technical Analysis!

Updated

April 10, 2025

Gambar Can Dogecoin (DOGE) Price Reach $100? Check out the Technical Analysis!

Jakarta, Pintu News – Dogecoin , a cryptocurrency often thought of as ‘memecoin’, is back in the spotlight amidst a volatile market. Despite a 20% price drop in the last seven days, the large and active global community is still optimistic about the potential for future Dogecoin (DOGE) price increases.

Dogecoin (DOGE) Potential and Challenges

Dogecoin (DOGE) has a circulating supply of over 148 billion tokens. If the price per token reaches $100, the market capitalization of Dogecoin (DOGE) will reach $10 trillion. This is almost five times the market capitalization of Apple, the most valuable company in the world today.

Compared to Bitcoin whose total supply is only 21 million coins and has never stabilized above a $1.5 trillion valuation, the $10 trillion target for Dogecoin (DOGE) seems highly unattainable under current economic conditions.

While there are several triggers that could push the price up, such as plans for a Dogecoin (DOGE) ETF and possible inclusion in the crypto strategic reserve, technical analysis suggests that Dogecoin (DOGE) may struggle to break the $0.25 resistance in the short term. Unless there is a major catalyst, such as an integration with a major platform or a tweet from a well-known figure, the upside potential appears limited.

Also Read: Bitcoin (BTC) is recovering, but big hurdles still loom in April 2025

Dogecoin (DOGE) Price Technical Analysis

Currently, Dogecoin (DOGE) is consolidating near $0.14, well below its early April peak of $0.21. The Relative Strength Index (RSI) stands at 32.57, signaling oversold conditions, but still below the neutral mark of 50. This indicates weak momentum despite the technical setup for a reversal. For a true bullish breakout to occur, the RSI needs to return above 50 along with volume expansion, which is currently low at 6.11 million.

The typically bullish falling wedge pattern has yet to confirm a breakout, which adds doubt to the potential for a rally in the absence of an external catalyst. Increased volumes, as seen in early February, have previously failed to sustain bullish momentum. The recent decline of 20.87% reflects more of a bearish retest of support rather than a breakout retest, further confirming market indecision.

Long-term Utility vs Hype

Dogecoin (DOGE) price increases in the past have mostly been driven by market sentiment. However, continued growth on an institutional level requires real-world use cases. Currently, some traders and tipping platforms use Dogecoin (DOGE), but it still lacks the functionality of smart contracts like Ethereum or the appeal of companies like Ripple .

Nonetheless, the fast transaction speed and low fees could support the case for micropayments or retail adoption in emerging economies. Community remains Dogecoin’s (DOGE) strongest asset. Consistent global support and initiatives such as lunar missions and charity work give Dogecoin (DOGE) unique cultural relevance.

The influence of personalities such as Elon Musk also occasionally pumps up the price, although such effects tend to be short-lived. To achieve meaningful price increases in the short term, the broader financial markets will have to recover from the existing turbulence.

Conclusion

Taking all these factors into account, it is highly unlikely that Dogecoin (DOGE) will reach its $100 price target in the near future. Investors and traders should pay attention to technical analysis and market developments to make informed investment decisions. Despite having a strong community, Dogecoin (DOGE) needs more real use cases to support long-term price growth.

Also Read: First XRP ETF in the US Launched, Provides New Investment Opportunities!

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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. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.