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Is Dogecoin About to Shock the Market? Analysts Eye a Breakout to $6

While speculators may be quick to rule out Dogecoin after its two-month decline, one analyst sees a major “buy-the-dip” opportunity.

Junior Content Creator

Harvey Hunter

Junior Content Creator

Harvey Hunter

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Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

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Last updated:

March 17, 2025

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Is Dogecoin About to Shock the Market? Analysts Eye Breakout to $6

Popular analyst Ali Martinez anticipates a breakout to $6 despite short-term headwinds— Dogecoin could remain a staple in the “best crypto” conversation.

Despite retail liquidity thinning under market FUD, he noted a shift in the tides as active addresses skyrocketed 400% to nearly 395,000 last week.

The leading meme coin wrapped up the week with a 20% gain, marking its first significant relief this month, though the new week has seen a slight slowdown.

Can Dogecoin Hit $6?

Martinez’s bullish outlook is rooted in a long-term logarithmic upward channel that has guided Dogecoin’s price since 2015.

#Dogecoin $DOGE at the edge, facing a big test. Will it break out or stand firm? pic.twitter.com/g3T5lPi5kD
— Ali (@ali_charts) March 17, 2025

If its lower support holds, DOGE could target highs of $1, $3, or even $6, aligning with the channel’s upper resistance trendlines that have consistently marked previous tops.

It’s important to note that this is a long-term projection. In the near term, analysts anticipate bullish, though less dramatic, price movements.

Martinez noted that Dogecoin dithers around a potential Stochastic Relative Strength Index (RSI) crossover on the weekly chart—historically such moves precede sharp rallies.

Previous crossovers led to surges of 88%, 187%, and 444%. However, expectations have been tempered to around 200-300% for the next leg up.

DOGE Price Analysis: What Does the Near-Term Hold?

Popular analyst Marzell takes an equally bullish stance, identifying a critical Dogecoin support level at $0.14750 as pivotal for a breakout scenario.

This aligns with the lower support of a descending channel pattern that has guided bottoms since December.

DOGE / USDT 1D chart, descending channel pattern. Source: Binance.

While the price has bounced from this level, the retest has yet to prove decisive, with technical indicators hanging in the balance.

The MACD line continues to trend sideways, briefly crossing above and below the signal line, while the RSI struggles to break free from oversold territory near 30.

A decisive test now looms at the stubborn 20SMA resistance, which has blocked upside attempts throughout March.

If DOGE breaks through this barrier, it could climb to retest the wedge’s upper resistance. A confirmed breakout would set sights on $0.50, fulfilling anticipations of a 200% surge.

Further gains—like Martinez’s projections of $1, $3, or $6—will likely depend on fundamental catalysts, including a possible Dogecoin ETF approval.

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Any trader hedging their risk likely features Bitcoin (BTC) as a major part of their portfolio, especially as the meme coin market continues to fall.

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With almost $3.8 million raised in its initial 6 weeks, the presale is already gaining strong momentum—potentially credited to its 113% APY on staking that rewards early investors.