Is the Dogecoin Uptrend Secure? Expert Insights Fuel Optimism

The price of Dogecoin saw a recovery to $0.186 after dropping from $0.185 to $0.15 earlier in the week. This upward movement indicates that buyers are stepping in to take advantage of lower prices, a development that some market analysts interpret as a sign of ongoing strength for the meme-based cryptocurrency.

Analysts Observe Long-Term Trend Developments

According to analyst Steph is Crypto, Dogecoin continues to track a so-called “Legendary trend-line” that has been established based on three key price lows over the years.

This support line initially emerged above $0.001 in early 2020, was revisited and surpassed above $0.059 in 2024, and was again tested below before finding support around $0.14 in 2025. Each time the price reached this line, it has subsequently rebounded.

Those maintaining long-term positions in DOGE are considered “absolute legends,” as noted by Steph, who projects a long-term price target of $10. This forecast suggests a potential gain of over 5,000% from current values.

— STEPH IS CRYPTO (@Steph_iscrypto) May 1, 2025

Daily Charts Indicate More Conservative Approaches

Other analysts offer a more cautious outlook based on daily chart trends: Dogecoin usually rises from an ascending trendline, forming a series of higher lows. The observations suggest these rebounds often follow false breakouts prior to significant upward movements.

Previous Resistance Levels Transition to Support

Longer-term analysis reveals another trend in Dogecoin’s price movements. Examination of three-day charts shows that past high values subsequently function as new support levels.

This was evident when DOGE breached the $0.097 resistance late in 2023 and later returned to test this same level as support in early 2024. A similar situation arose with the July 2024 peak of $0.146, which became a support threshold by April 2025.

Potential Price Targets Based on Historical Trends

The peak of $0.29 in February 2025 serves as another reference point that came before the recent price decline. While technical analysts assessed the $0.145 support level in April, their focus has shifted to $0.23 as the next resistance point to monitor.

If these trends persist, some experts believe Dogecoin could reach $0.80, surpassing its previous all-time high of $0.73.

Although such predictions largely rely on technical patterns rather than fundamental factors, the predictability of Dogecoin’s pricing structure has caught the attention of various cryptocurrency market observers.

The ascending trendline, which has remained intact through different market cycles, is a key indicator that many traders are watching to evaluate the strength of DOGE’s current market position.