Is DOGE Barking Up the Right Tree? 🐕💰

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TL;DR

  • The crypto market crash this week wiped out billions of dollars as every digital asset plunged hard. However, DOGE managed to remain north of a key support line on the daily scale.
  • This suggests an upcoming rally, according to analysts, and a potential surge by triple digits.

The crypto market’s latest crash was a spectacle to behold, and the meme coins were hit the hardest. You see, DOGE was standing tall at $0.26 last Friday, before the Bybit hack, Trump’s escalating trade war, and the general market chaos started to take its toll. 🌪️

By the end of the week, the oldest and largest meme coin had plummeted to just over $0.18, marking a 30% slump in just seven days. That’s a fall from grace that would make Icarus look like a high-flying success. Moreover, DOGE had lost 60% of its value since its 2025 peak of $0.44. 📉

But here’s the kicker: DOGE didn’t stay below $0.19 for long. It bounced back within hours, which is significant because the $0.19 support line has been described as crucial for DOGE. If it breaks, it could plummet to $0.06, effectively ending the bull market narrative. But if it rebounds, we could see a surge to $0.5, as analysts like Ali Martinez noted on X. 🚀

To achieve this, DOGE needs a 150% surge from its current position, which is no small feat in a market where the hype has all but evaporated. But Dogecoin has a history of pulling off spectacular price rises in short periods. So, who knows? Maybe DOGE will once again prove that it’s not just a meme, but a force to be reckoned with. 🐕🔥

#Dogecoin $DOGE holds above a critical support level!

— Ali (@ali_charts) March 1, 2025

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2025-03-01 10:09