Jakarta, Pintu News – As of February 17, the price of Dogecoin (DOGE) fell 2.83% to $0.0986, as the general meme coin market faced increasing selling pressure. Even so, Dogecoin was still able to hold above the crucial $0.09 resistance level, indicating stability.
But in the past week, DOGE rose 6%, indicating potential growth for the long term. Going into the rest of February, there are several key factors that are likely to push the Dogecoin price towards the $0.20 target, despite the recent market volatility.
Bitcoin (BTC) price is around $68,000, while Ethereum (ETH) is at $1,970, and the total crypto market capitalization stands at $2.37 trillion. Historically, Dogecoin’s price movements tend to follow the market trends of large-cap assets like BTC and ETH.
Read also: Meme Coin Price Prediction: Bear Pushes Dogecoin, Shiba Inu, and Pepe to the End of the Rope
DOGE usually rises when the major cryptocurrencies register strong price gains. As long as Bitcoin and the crypto industry in general remain in a bullish trend until early 2026, this could contribute to Dogecoin’s price increase.
If other meme coins such as Shiba Inu (SHIB), Pepe Coin (PEPE), and Pump.fun (PUMP) become popular again, this could have a positive impact on the Dogecoin price. As the value and popularity of these coins increases, investor interest in Dogecoin could potentially be reignited and push its price higher.
The rise of top meme coins usually triggers a surge of attention to the most recognizable meme coins. As of February 18, the total market value of the meme coin category stood at around $35.5 billion, although in 24 hours it fell by around 1.5%.
Dogecoin’s price movements are more influenced by sentiment and hype than fundamentals. A push from social media or the endorsement of a well-known figure – especially from an influential figure like Elon Musk – can quickly increase trading interest. This speculative enthusiasm can often push the price towards key levels, such as $0.20.
Read also: Dogecoin Price Rises to $0.10 Today: Effect of Smart Cashtags Feature in X App?
Some of the agendas that could potentially affect the crypto market (including Dogecoin) include:
For Dogecoin’s future prospects to reach $0.20, DOGE needs to first break through some significant technical resistance levels. In the $0.18-$0.20 range, there are important resistance areas that can only be crossed if supported by strong buying pressure.
If there is a breakout above that area accompanied by higher trading volume, it could be a signal that Dogecoin is entering the next phase of its rise.
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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 are subject to high risk and volatility, always do your own research and use cold hard 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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