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Dogecoin’s price took a hit this week after a strong run in recent weeks. It fell from $0.25 down to about $0.21. Traders saw a brief bounce above $0.23 around May 17–18, but that did not last.
As of today, DOGE sits near $0.21, marking a 10% weekly drop. Investors are watching the bigger picture, hoping long‑term signals point to a renewed uptrend.
Analyst Maintains Bullish Outlook
According to analyst Javon Marks, a key trendline gave way in late 2023. This line had capped Dogecoin since its $0.70 peak. He says the break ushered in higher highs and higher lows.
A fresh low near $0.15 has held so far. Based on this view, he kept his $0.65 target, which would mean a 200% gain from $0.21. Marks also mentioned $0.74 and $1.25 as possible future milestones.
$DOGE and a +174% climb to its first target at $0.6533 continues to be in the cards 🃏… https://t.co/7Jt82s0jLy
— JAVON⚡️MARKS (@JavonTM1) May 18, 2025
Resistance Levels Remain Key Barrier
Based on reports from market watcher Ali Martinez, the $0.25–$0.26 range is a major hurdle. That zone worked as support in December 2024 but flipped to resistance in early 2025.
Since then, the meme coin has tried and failed to push past it. In February, it hit $0.28 before reversing to below $0.15. A March rally saw a move above $0.19 but stopped short again.
The most recent test in May peaked at $0.24 before closing at $0.22. Traders will be looking for a clear close above $0.26 to signal new momentum.
On‑Chain Activity Sees Strong Uptick
Based on latest data, wallet activity has jumped sharply. New addresses grew by over 100% in the last seven days. Active addresses climbed by 110%.
Even zero‑balance addresses rose by 155%, which often hints at fresh participation or address cleanup. Higher on‑chain counts don’t always mean a price rise, but they do show more users are logging transactions again.
Stretch Targets Face Big Hurdles
Dogecoin’s long‑term goals may sound exciting, but getting there won’t be simple. A move to $0.6533 or beyond requires first holding above $0.26. Then it must break $0.28 with real volume behind it.
Big price swings could scare some holders into booking profits. Even if the chart lines line up, outside events like social media buzz or exchange listings may be needed to push DOGE past $0.30.
In the short term, traders will watch whether DOGE can reclaim $0.25 and hold it for a few days. If that happens, the higher‑low pattern stays intact. If it falls back below $0.21, the setup could collapse and open the door to further losses.
For now, the coin sits in a tug‑of‑war between bullish chart fans and those who see more downside.
Featured image from Unsplash, chart from TradingView
