{"id":4050,"date":"2025-03-02T14:00:23","date_gmt":"2025-03-02T14:00:23","guid":{"rendered":"https:\/\/coinscap.info\/blog\/dogecoin-price-returns-to-key-local-peak-is-another-major-uptrend-on-the-horizon\/"},"modified":"2025-03-02T14:00:23","modified_gmt":"2025-03-02T14:00:23","slug":"dogecoin-price-returns-to-key-local-peak-is-another-major-uptrend-on-the-horizon","status":"publish","type":"post","link":"https:\/\/coinscap.info\/blog\/dogecoin-price-returns-to-key-local-peak-is-another-major-uptrend-on-the-horizon\/","title":{"rendered":"Dogecoin Price Returns To Key Local Peak: Is Another Major Uptrend On The Horizon?"},"content":{"rendered":"

Dogecoin’s price action in the past 24 hours has been characterized by a struggle to hold above the $0.20 price level. Notably, this struggle above $0.20 comes after Dogecoin’s break below the level on the last day of February, marking the first time it traded below $0.20 since November 2024.<\/p>\n

From a technical outlook, this recent price crash aligns with a pattern that has preceded rallies for DOGE, with the meme coin essentially re-visiting its previous local peak.<\/p>\n

Dogecoin Price Revisits Local Peaks Before Another Breakout<\/b><\/h2>\n

Dogecoin’s price crash to $0.20 could begin an extended bearish move from here, but technical analysis suggests otherwise. Crypto analyst Trader Tardigrade has provided a bullish perspective, arguing that Dogecoin\u2019s current price action fits within a well-established pattern that has historically preceded major rallies on higher timeframes.<\/p>\n

As noted by the analyst,<\/a> Dogecoin\u2019s price has pulled back to trading around the $0.22 level, which is only a retest of its local peak after the rally in the first three months of 2024. Interestingly, the meme coin\u2019s latest movement to $0.22 follows a larger correction from its December 2024 high of $0.475.\u00a0<\/p>\n

Interestingly, this isn\u2019t the first time that Dogecoin is revisiting its previous local peak this cycle, with Trader Tardigrade\u2019s analysis highlighting how Dogecoin tends to revisit former peaks before entering a sustained rally. According to the weekly candlestick timeframe chart that accompanied his analysis, Dogecoin has revisited its local peaks about three times since July 2023.\u00a0<\/p>\n

The most notable revisit of a local peak was in Q3 2024, when Dogecoin retraced to around $0.095 after its peak of $0.22 in April 2024. Interestingly, this retracement to $0.095 in Q3 2024 was also a revisit of its December 2023 peak price. It continued to hover around $0.095 between July and September 2024 before surging toward $0.48 in Q4 2024. Therefore, if history repeats itself, the current consolidation phase around $0.22 could last for several weeks before the next leg up.<\/p>\n

\"\"<\/p>\n

Image <\/i>From X: Trader<\/i><\/a> Tardigrade<\/i><\/p>\n

Major Uptrend Coming Next?<\/b><\/h2>\n

The current return to the $0.22 price zone suggests that Dogecoin may trade within this range for the next few months before another breakout. As such, the Dogecoin price may continue to range between $0.20 and $0.22 until May 2025. However, it might not take that long<\/a> for Dogecoin to kick off the next rally. <\/p>\n

<\/p>\n

Nonetheless, Trader Tardigrade’s projection put the next rally at a price target above $0.8. Such a move would see Dogecoin trading at new price territories above its current all-time high of $0.7316.<\/p>\n

In -hour Relative Strength Index (RSI) had broken out of a descending trendline, signaling that bullish momentum is building. While this is a promising development, he noted that Dogecoin must still break out of its Descending Trendline for the uptrend to fully take shape.<\/p>\n

At the time of writing, Dogecoin is trading at $0.2062.<\/p>\n

Featured image from The Street, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin’s price action in the past 24 hours has been characterized by a struggle to hold above the $0.20 price level. Notably, this struggle above $0.20 comes after Dogecoin’s break below the level on the last day of February, marking the first time it traded below $0.20 since November 2024. From a technical outlook, this…<\/p>\n","protected":false},"author":1,"featured_media":4051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[602],"tags":[104,103,106,51,47,150],"class_list":["post-4050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-altcoin","tag-altcoins","tag-cryptocurrency","tag-doge","tag-dogecoin","tag-meme-coins"],"_links":{"self":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts\/4050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/comments?post=4050"}],"version-history":[{"count":0,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts\/4050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/media\/4051"}],"wp:attachment":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/media?parent=4050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/categories?post=4050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/tags?post=4050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}