Dogecoin (DOGE) has tanked to $0.21 as of February 27, 2025, down 70% from its December peak of $0.484. After climbing from $0.10 in October, the meme coin’s rally has fizzled. With the crypto market reeling, can DOGE bounce back to $0.43?
Dogecoin Slips Below Key Levels – What’s Next?
Dogecoin token, which surged from $0.10 in October to $0.484 in December, has now retraced sharply, losing over 70% of its gains. DOGE is currently trading below the 61.8% Fibonacci retracement level. This is historically a bearish signal that suggests further downside could be ahead.
Source: Ali MartinezOn-chain, Ali Martinez reports a 67% drop in open interest—$4.07 billion to $1.33 billion in three months—and new addresses crashing from 1.29 million in November to 30,815 now. Trading volumes hold above $2 billion, but interest is waning fast.
Source: Ali MartinezMeanwhile the number of new Dogecoin addresses has plummeted from 1.29 million in November to just 30,815, indicating a slowdown in user adoption and engagement.
Is This the Bottom? Analysts Weigh In
Trader Tardigrade notes DOGE has hit an “order block zone,” a support area packed with limit orders. If filled, it could spark an uptrend toward $0.31, $0.37, or even $0.46, close to Carl Moon’s $0.434 target from a falling wedge breakout. But DOGE sits below the 61.8% Fibonacci retracement—a bearish signal—unlike XRP, which holds above 38.2% at $2.28. If $0.20 fails, Martinez warns of a drop to $0.19 or $0.06.
DOGE order blocks suggest potential breakout ahead. Source: XCarl Moon, another well-known trader, suggested that DOGE is on the verge of breaking out of a falling wedge pattern, with a target price of $0.434. Falling wedges are generally seen as bullish reversal patterns. This would mean that a breakout could lead to strong upward movement in the near future.
DOGE breaks falling wedge, eyes potential 105% surge. Source: XRose Premium Signals sees a “reversal zone,” with a break above $0.29124 potentially pushing DOGE to $0.50-$0.60. Historical breakouts back this—Q4 2023 and Q3 2024 saw 150%+ pumps.
DOGE eyes bullish reversal from $0.16896 support. Source: XIf $0.20 holds firm and those order blocks kick in, we could see a firefight back to $0.31 or higher. A breakout above $0.29, as Rose Premium Signals predicts, might just light the fuse for a run to $0.43 or beyond. But if the bears win and $0.20 collapses, brace yourself—$0.19 or lower could be next, and that’d be a tough pill to swallow for the DOGE army.
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