Dogecoin Dips 2% — Is a Major Bull Run Still on the Horizon?

Updated

April 30, 2025

Gambar Dogecoin Dips 2% — Is a Major Bull Run Still on the Horizon?

Jakarta, Pintu News – An analytical exposition states that now is a good time to pay close attention to Dogecoin , after the completion of the perfect ABC price correction pattern.

According to analysis from MasterAnanda, buying Dogecoin – the largest meme coin by market capitalization – at current price levels is considered the right decision.

In his commentary on TradingView on April 27, he highlighted some of the bullish factors driving that optimism as well as Dogecoin’s next price target.

This analysis comes after Dogecoin’s lackluster price performance in recent days. After surging more than 12% about a week ago, the price of the dog-themed coin has slipped again, down about 7% from its high this week of $0.1929.

So, how is the Dogecoin price moving today?

Dogecoin Price Drops 2.29% in 24 Hours

On April 30, 2025, Dogecoin (DOGE) saw a 2.29% drop over the past 24 hours, trading at $0.1758, or around IDR 2,945. During the day, DOGE reached a high of IDR 3,028 and dipped to a low of IDR 2,899.

At the time of writing, Dogecoin’s market cap stands at around $26.21 billion, with trading volume dropping 24% to $932.05 million within 24 hours.

The Beginning of the Bullish Impulse

MasterAnanda revealed that Dogecoin has just completed an ABC correction, which now opens the opportunity for an impulsive bullish rally.

To give you an idea, this correction movement started from the high on December 8 at $0.4846, with the first wave (A) resulting in a 46% correction to $0.2626.

Then, wave B occurred when the Dogecoin price bounced up 66% from the low to $0.4350 in January. After that, wave C completed the correction pattern with a 70% drop towards the local support level at $0.1298.

Although Dogecoin has experienced a significant rebound from the $0.1298 support level to its current price, analysis on TradingView shows that the meme coin is still trading at a price far below its potential value.

On the other hand, the commentator predicted a tremendous surge in the price of DOGE to reach $0.703. He mentioned that this is the “last chance” to buy Dogecoin.

Interestingly, the price surge of 293% from the current price position is in line with the Fibonacci level of 1,618.

Important Levels for Dogecoin Rally

In a separate analysis, renowned market analyst Ali Martinez identified a crucial level that Dogecoin needs to reach in order to drive sustained price gains.

In an analysis published on Monday, Martinez mentioned that Dogecoin needs to reclaim the $0.20 level and close the month above that price to open up further upside opportunities.

If #Dogecoin $DOGE can secure a monthly close above $0.20, it could pave the way for a rally toward its all-time high of $0.74. Such a breakout would signal strong bullish momentum and potentially attract increased investor interest. pic.twitter.com/ky88B6XFZy
— Ali (@ali_charts) April 28, 2025

Interestingly, this $0.20 level coincides with the bottom of an ascending wedge pattern that has been the path of DOGE’s movement since 2017. However, the recent bearish trend has seen the Dogecoin price drop below the pattern.

Martinez believes that if Dogecoin manages to get back above $0.20, positive momentum will again push the price higher.

In more detail, Martinez revealed that Dogecoin’s next target, after breaking and holding above that level, is to retest its record high of $0.74.

He also emphasized that this breakout of 312.7% would be a strong signal of a return of bullish momentum and could revive investor interest in this meme coin.

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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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