Dogecoin Rockets to $0.25 Today — Is a Massive 29% Surge Just Around the Corner for DOGE?

Jakarta, Pintu News – Recently, an analysis showed that Dogecoin is expected to maintain its current upward trend, with the nearest target reaching the highest price in the past 3 months.

The comments made on Thursday morning came from Ali Martinez, a renowned market analyst.

He highlighted the recent bullish price development on the Dogecoin chart on the low timeframe, pointing to the potential for further price gains.

This market insight comes on the heels of increasing positive sentiment towards Dogecoin. For instance, Bitcoin’s recent price push to new highs has also had a positive impact on the meme coin, which has gained 4.75% in the past week and 41% in the past month.

In addition, heavy activity from whales and increased network activity also supported Dogecoin’s upward momentum.

Dogecoin Price Rises 4.45% in 24 Hours

Read also: SEC Delays Approval of XRP and DOGE ETFs, What Happened?

On May 23, 2025, Dogecoin surged by a striking 4.45% in just 24 hours, climbing to $0.2521 (around IDR 4,087). The coin bounced between a low of IDR 3,872 and a high of IDR 4,115, showing strong momentum that’s grabbing attention fast.

At the time of writing, Dogecoin’s market cap stands at around $37.88 billion, with trading volume dropping 13% to $2.72 billion within 24 hours.

DOGE eyes 3-month high in price

Martinez observed positive price action on the 1-hour DOGE/USDT chart today. He states that the token seems to have successfully crossed a major obstacle, opening up momentum for a continuation of the bullish trend.

A supporting chart shows Dogecoin trending above a bullish pennant pattern, where the token is forming progressively lower highs and lower lows. The pattern started forming as early as May 11, when DOGE surged to $0.26, but several attempts to break that level failed.

Meanwhile, the meme coin managed to break out of the bullish pennant pattern after breaking the price of $0.23 and continued to rise past the upper limit of the pattern, so it is trading at $0.24 as of this writing.

With this breakout, Martinez predicts an increase towards the 1.414 Fibonacci extension at $0.31. This would mean a potential jump of 29% from the current market price and reach price levels last seen in early February.

Nevertheless, Martinez previously identified the area between $0.25 and $0.26 as an important resistance zone that Dogecoin must cross.

This analysis emphasizes that DOGE must break out of this supply zone for a sustained uptrend to higher prices to occur.

Read also: Shiba Inu Set to Soar 25% After Bullish Pattern – Is a Massive Rally Just Getting Started?

Analysis Confirms Bullish Sentiment on Dogecoin

Meanwhile, in a parallel tweet, market watcher Chad asserted that Dogecoin’s chart shows the dominance of bullish sentiment.

He emphasized that this meme coin shows no signs of being bearish at all, referring to the price action on the weekly timeframe.

The accompanying chart shows the formation of higher highs and higher lows on Dogecoin, with the April low of $0.13 marking the end of the price correction.

From this point, Chad expects DOGE to continue its price increase, with the next target at the 0.618 Fibonacci level at $0.26.

Furthermore, the token is expected to rise by 72% from its current price to $0.41 at the 0.786 Fibonacci level before finally reaching $0.74, which translates to an impressive rise of 207%.

Meanwhile, reputable market watchers also expect DOGE to hit an all-time high this cycle. Trader Tardigarde recently identified a repeating pattern on the asset’s 6-month chart that could potentially push the price to the $6 mark.

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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 Bull Pennant Breakout Targets 29% Rally to $0.31: Market Expert. Accessed on May 23, 2025