Dogecoin Price Prediction: Is DOGE on Track for a $4 Surge? Here’s What Ali Martinez Predicts!

Jakarta, Pintu News – As Bitcoin (BTC) price led the bearish trend in the crypto market on March 4, 2025, massive selling pressure triggered a forced leveraged liquidation of more than $1 billion.

One of the most affected sectors is memecoin, especially Dogecoin (DOGE), which saw a significant drop. The total market capitalization of the memecoin industry plummeted by about 20% in the last 24 hours (4/3/25), down to $57 billion.

Dogecoin Price Movement

According to CoinSpeaker (4/3/25), the Dogecoin price erased all the gains made over the weekend, right after US President Donald Trump announced plans for a strategic crypto reserve.

Read also: Dogecoin Rises 3% Today (5/3/25) – Could DOGE Be on Track to Hit $5?

As one of the meme coins with the largest market capitalization, DOGE has a fully diluted valuation of around $28.5 billion, with daily trading volume reaching $2.68 billion.

However, in the last 24 hours (4/3/25), the price of DOGE fell by more than 12%, trading at $0.192 on Tuesday.

Dogecoin also moved in tandem with the broader crypto market, which reacted negatively to the escalating trade war tensions led by the United States.

On Monday (3/3/25), President Trump announced that 25% import tariffs on Canada and Mexico take effect today. In retaliation, Canada also announced 25% tariffs on $155 billion worth of US goods, which went into effect today.

Dogecoin Price Target in the Medium Term: Will DOGE Break $4?

Technically, the Dogecoin (DOGE) price has been in correction mode for the past three months, but still maintains a bullish trend in the long term.

On the weekly chart, DOGE is currently trading below the crucial support level between $0.19 to $0.21, signaling strong selling pressure.

The weekly Relative Strength Index (RSI) indicator fell below 50%, confirming that bears are still in control of the market. If the selling pressure continues, DOGE could potentially drop 23% to a support level around $0.145, which coincides with the weekly 0.786 Fibonacci Retracement level.

However, crypto analyst Ali Martinez has a more optimistic view. According to him, if buyers are able to hold the support zone between $0.16 to $0.19, Dogecoin could experience a major rally towards $4 in the long run.

Dogecoin Fundamentals: Support from Elon Musk & Potential ETF Spot!

As the second largest digital asset secured through the legendary Proof-of-Work (PoW) mechanism, Dogecoin (DOGE) has continued to attract the attention of both retail and institutional investors in recent years.

Read also: NYSE & Nasdaq Battle for Crypto ETFs – Are Dogecoin (DOGE) and Hedera (HBAR) Next in Line?

Backed by tech billionaire Elon Musk, the dog-themed memecoin remains relevant despite the emergence of many new competitors on various blockchains, especially in the Solana (SOL) ecosystem.

Last Monday (3/3/25), the New York Stock Exchange (NYSE) Arca filed a rule change to list and trade shares of the Bitwise Asset Management Dogecoin ETF.

Based on documents filed with the US Securities and Exchange Commission (SEC), Coinbase Global Inc (NASDAQ: COIN) will act as Dogecoin’s custodian, while Bank of New York Mellon will be the cash custodian.

The approval rate of Dogecoin ETFs in the United States is getting higher under the Trump administration, which has halted several investigations into crypto companies.

According to Polymarket data, the chances of a spot Dogecoin ETF approval before the end of this year jumped 29% in the last 24 hours, reaching around 66%.

Interestingly, on-chain data shows that whale investors have started to accumulate heavily. In the past three days, whales with holdings between 100 million and 1 billion DOGE have added 1 billion DOGE to their portfolios, so they now control around 25.3 billion DOGE.

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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:

• Coinspeaker. Dogecoin Price Prediction: DOGE Faces 23% Nosedive as Whale Investors Struggle to Defend Crucial Support Level. Accessed on March 5, 2025