Crypto analysts predicted that Dogecoin might nonetheless reverse its present downward pattern and propel itself to hit $1 per coin, a forecast which may enhance buyers’ optimism concerning the widespread meme coin.
Market specialists mentioned that Elon Musk’s favourite meme coin can financial institution on the growing whale exercise and a constructive outlook from the Stochastic RSI evaluation exhibiting a possible upward value trajectory.
Optimism On The DOGE
Dogecoin won’t have been spared by the bearish market situation affecting the broader cryptocurrency house however regardless of the memecoin’s going through a number of short-term challenges, crypto analysts stay assured in the way forward for the token and predict a attainable enhance in its worth.
Information confirmed that DOGE barely moved upward with a 2% enhance previously week however suffered a 36% value decline in its value within the broader image, elevating concern amongst its buyers.
As of writing, Dogecoin is traded at $0.1678, down by 0.5% previously 24 hours, reflecting the general destructive market sentiment. Nonetheless, the memecoin remains to be dominating the market with 0.92% with a market capitalization of practically $25 billion and a 24-hour buying and selling quantity of greater than $816 million.
The short-term declines and challenges that DOGE is going through proper now can’t overshadow the token’s long-term progress potential.
Whale Exercise On The Rise
Analysts mentioned that one of many major drivers of optimism on DOGE is its massive buyers that are registering constructive exercise that might gasoline the expansion of the memecoin within the upcoming months.
Market observers revealed that whale exercise has elevated over the previous week with over 110 million DOGE tokens acquired by massive buyers. These buyers are betting that the meme token is perhaps ripe for a attainable breakout, highlighting the arrogance of whales within the token’s long-term progress.
It’s also an indicator that whales aren’t trying on the coin’s short-term volatility however on its long-run prospects.
#Dogecoin Stochastic RSI suggests $DOGE might cease its downtrend right here and intention for the $1 mark $Doge pic.twitter.com/gkpayjUoTc
— Dealer Tardigrade (@TATrader_Alan) March 18, 2025
Can Dogecoin Hit $1?
In the meantime, a crypto analyst believed that Dogecoin might hit $1 per coin, sparking the curiosity of merchants within the memecoin.
Dealer Tardigrade mentioned in a publish that projections utilizing the Stochastic RSI present a shiny future for the meme crypto, suggesting that it may get better from the short-term declines resulting in a value surge.
“#Dogecoin Stochastic RSI suggests $DOGE might cease its downtrend right here and intention for the $1 mark,” Dealer Tardigrade famous.
The important thing indicator urged that DOGE might reverse its downtrend and catapult it to upward value motion, one thing which can be driving optimism amongst buyers.
The Stochastic RSI is a gauge getting used to identify pattern reversals, which is now giving hope to these betting on Dogecoin’s resurgence.
Featured picture from Gemini Imagen, chart from TradingView
