Dogecoin Edges Higher Today (April 25) — Is a Major Bullish Reversal Just Around the Corner?

Updated

April 25, 2025

Gambar Dogecoin Edges Higher Today (April 25) — Is a Major Bullish Reversal Just Around the Corner?

Jakarta, Pintu News – On April 24, Dogecoin was at $0.17, a 4.3% drop in the last 24 hours. This shows signs of price resilience amid improving general market sentiment.

A number of technical indicators suggest that DOGE/USD is at a crucial point, with some analysts observing certain patterns that could potentially signal a significant price spike in the near future.

So, how is the Dogecoin price moving today?

Dogecoin Price Rises 1.49% in 24 Hours

As of April 25, 2025, Dogecoin (DOGE) has seen a 1.49% gain over the past 24 hours, currently trading at $0.1783, or around IDR 3,003. During this period, DOGE hit a low of IDR 2,876 and reached a high of IDR 3,110.

At the time of writing, Dogecoin’s market cap stands at around $26.54 billion, with trading volume dropping 14% to $1.46 billion within 24 hours.

Important Technical Breakthrough Hints at Bullish Reversal in DOGE

According to FX Leaders (24/4/25), after several weeks of consolidation, Dogecoin has now broken above its 50-day exponential moving average (EMA) – an important technical indicator often used to distinguish between bearish and bullish market sentiment.

The increase in trading volume on the breakout validates the move and indicates renewed buying interest.

In technical analysis, the descending wedge pattern that recently formed on Bitcoin and then broke to the upside is considered a signal of bullish trend continuation. This pattern had previously held back price movements for months.

This technical change could be a sign that the price decline phase may be coming to an end.

“Dogecoin is showing an ideal breakout pattern,” said an analyst from CryptoQuant. “The breakout above the 50-day SMA is very encouraging; if the price of DOGE manages to pass the $0.1809 point clearly, it is likely to continue rising to $0.21 or more.”

Short sellers lose badly when positions are forcibly sold

The recent rise in DOGE prices triggered massive liquidation in the futures market. According to data from Coinglass, as the bullish momentum strengthened, around $11.6 million of short positions were forced to close.

Interestingly, about 85% of the losses came from traders who bet against the rise in DOGE prices. This big sell-off reinforces the notion that the downtrend is over, and opens the door to a continuation of the uptrend.

Even so, some technical indicators are starting to show signals of an overheated market, which means a small correction is likely before DOGE resumes its next leg higher.

Elon Musk’s influence begins to fade, DOGE becomes more independent

Historically, Elon Musk’s social media activity has heavily influenced the price of Dogecoin. However, recent market movements indicate that Dogecoin is starting to show independence from Musk’s influence.

Although Musk had joked about reducing his involvement with the “Department of Government Efficiency (DOGE)”-a joke referring to Dogecoin’s acronym-the coin’s price dropped after the statement.

This unexpected market response suggests that Dogecoin may be evolving into a more mature asset, no longer entirely dependent on public figures, potentially creating a more stable and sustainable market dynamic.

Dogecoin Price Prediction: Does $0.27 Make Sense?

Veteran crypto analyst, “Master Ananda”, believes that DOGE has completed a complex ABC correction pattern based on the Elliott Wave Theory-a pattern that is usually followed by a strong upward wave.

“Dogecoin found strong support in the 2024 consolidation zone,” Ananda explained. “With the correction ending on April 7, DOGE is now ideally positioned to start a new impulsive wave that could take it to $0.27 or even higher.”

Some analysts have even more ambitious projections. If Bitcoin reaches the $220,000 to $250,000 range due to monetary policy easing, Dogecoin is said to have the potential to touch the Fibonacci 1.618 extension level of $3.94, which has historically been reached in previous bull cycles.

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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.

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