Dogecoin Dips 3% (April 24), But This Analyst Says a Major Breakout Could Be Coming Soon!

Jakarta, Pintu News – Analyst Javon Marks reiterated the bullish technical structure on Dogecoin , stating that the strength of the latest pullback could push the previous price target even higher.

As of April 23, 2025, DOGE was trading at $0.1832, having recorded a significant jump of 11.6% in the last 24 hours. This increase came after an accumulation phase that took place in the $0.14-$0.16 range, indicating a change in market sentiment to a more positive direction.

Amid the latest correction, Marks highlighted a consistent pattern in DOGE’s price movement, which is the formation of higher lows (HL) and higher highs (HH)-a classic technical signal indicating an increasingly strong uptrend.

So, how is the Dogecoin price moving today?

Dogecoin Price Drops 3.81% in 24 Hours

As of April 24, 2025, Dogecoin (DOGE) saw a 3.81% drop over the past 24 hours, trading at $0.1747, or around IDR 2,950. During the day, DOGE peaked at IDR 3,129 and dipped as low as IDR 2,942.

At the time of writing, Dogecoin’s market cap stands at around $26.04bn, with trading volume falling 4.30% to $1.71bn in 24 hours.

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Formation of Higher Low and Higher High

The multi-year chart created by Marks, covering from mid-2020 to 2025, identifies these important patterns as bullish signals. The formation of higher lows, where the price finds support at increasingly higher levels, indicates a strengthening of the uptrend.

In particular, in mid-2023, DOGE began to show the formation of a higher low around the $0.04 level, indicating a potential stabilization after the previous major downward trend.

Then, in mid-2024, after a breakout, DOGE again formed a new higher low in the $0.07 range. This was a strong signal that DOGE was starting to move in an uptrend direction, with each low forming higher than the previous one.

The most recent formation occurred in 2025, where DOGE found support above the $0.14 level after previously dropping from highs around $0.46. This continued higher low pattern further strengthens the bullish outlook, with Marks predicting significant price increases.

Having experienced a 500% increase previously, Marks expects DOGE to potentially rise further until it reaches a price target of $0.6533.

Moreover, with the strength of the recent recovery amidst the overall market downturn, DOGE is expected to break the target, even approaching the $1.25 price.

To reach that price from its current level of $0.183, Dogecoin would need to jump about 583.33%.

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Symmetrical Triangle Pattern Indicates Breakout Potential

On the other hand, an analyst named Ehsan Zeydabadi highlighted the formation of a symmetrical triangle pattern on the 4-hour chart for DOGE. This pattern generally reflects a consolidation phase, where the price movement moves between two trend lines that are narrowing.

Zeydabadi revealed that a breakout is likely as the DOGE approaches the apex of the triangle.

At the time of analysis, DOGE was trading around $0.15785 and had tested the upper limit (resistance) and lower limit (support) of the triangle pattern several times. The price recorded rejection at the $0.166 resistance level on several occasions-namely on April 2, April 14, and April 21.

If DOGE manages to break this important resistance level, then the price could potentially rise to around $0.17830, and could even reach the short-term target of $0.19401.

However, if it fails to maintain the support level, the price could drop towards the $0.14632 or $0.13850 range, with further downside risks.

Advanced Predictions for Dogecoin

Dogecoin’s technical patterns continue to spark mixed opinions from analysts. ZAYK Charts recently highlighted the breakout of a falling wedge pattern – a pattern that usually indicates a potential upward reversal. According to them, this breakout could push the price of DOGE up to near $0.28.

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However, a different view came from analyst Ali Martinez, who expressed concerns regarding the potential for price declines.

He mentioned that if DOGE fails to maintain the support level above $0.17, then the price could plummet by 65%, touching a low of around $0.06.

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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:

• Crypto Basic. Dogecoin Holds Higher Lows, Setting Up for a Potential 279%+ Rally Toward $1.25. Accessed on April 24, 2025