Dogecoin Price Prediction: Altcoin Season to Start as DOGE Pump?

Jakarta, Pintu News – Dogecoin (DOGE), a cryptocurrency that is often perceived as a meme, is now at an important crossroads.

With a weekly decline of 6.8%, the currency is testing critical support levels that could determine its future direction.

Dogecoin Critical Support Test

On May 6, 2025, Dogecoin (DOGE) was briefly trading at $0.166, a decline of more than 3% in the last 24 hours.

Read also: Dogecoin Price Soars Today (May 7): Could DOGE See a Massive 14% Rally?

Analyst Ali Martinez points out that Dogecoin is testing an important support level at $0.167. If the currency manages to hold above that level, there is potential for a rebound to $0.175 and could even go up to $0.183.

However, if Dogecoin fails to maintain this support, there is a possibility that the price will drop further.

Analysis from CCN also shows that Dogecoin’s funding rate has turned negative, indicating that traders are betting against the coin. The high Network Value to Transaction (NVT) ratio also suggests that speculation is dominating over real use.

Potential Triggers for Altcoin Season

According to analyst Cas Abbé, Dogecoin’s (DOGE) price rise could be the trigger to start the next altcoin season. Since 2017, Dogecoin’s price rise has often signaled the start of an altcoin season.

To trigger the next rally, Dogecoin needs to break above $0.22. In addition, whale wallets have accumulated over 100 million Dogecoins in the past week, which increases the likelihood of a price increase.

If Dogecoin manages to break through this critical level, it could be the start of a significant price increase for many other altcoins.

Dogecoin’s Long-Term Outlook

Dogecoin (DOGE) has a history of reaching its highest price peak at $0.73 in May 2021.

Read also: Is Shiba Inu About to Explode? SHIB Set to Soar 4x!

With an Ascending Wedge pattern forming on its weekly chart, as pointed out by GreenCrypto analysts at TradingView, there is potential that Dogecoin could reach a new record price of $1,161, which would mean a 582% increase.

However, keep in mind that this pattern could also indicate a possible decline if Dogecoin falls below the key support level at $0.177. Therefore, it is important for investors to closely monitor Dogecoin’s price movements in the coming weeks.

With various indicators and analysis from experts, Dogecoin (DOGE) seems to be on the verge of a great opportunity.

If it manages to maintain support and break through existing resistance, Dogecoin will not only reach new heights but could also trigger the start of the much-anticipated altcoin season.

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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:

• Coinpedia. Dogecoin Price Prediction: Altcoin Season to Start When DOGE Pumps. Accessed on May 7, 2025