Dogecoin Eyes Potential Surge to $2.74
Dogecoin Eyes Potential Surge to $2.74—Key Support Level in Focus
Dogecoin (DOGE) has once again dipped below the crucial $0.20 mark, struggling to maintain upward momentum despite a brief resurgence earlier in the week. This pattern has been a recurring theme in 2025, with the meme coin facing difficulty sustaining gains. However, market analysts suggest that all hope is not lost, as DOGE approaches a critical support zone that could determine its future trajectory.
Could DOGE See a 1,450% Rally?
Crypto trader Ali Martinez recently shared insights on the X platform, highlighting a significant technical setup for Dogecoin. According to Martinez, DOGE is positioned at a decisive moment that could impact its long-term movement.
This assessment is based on an ascending channel pattern forming on Dogecoin’s weekly chart. The pattern consists of two upward-sloping trendlines—one marking resistance by connecting swing highs and another serving as support by linking swing lows.
Typically, asset prices fluctuate within such a channel, with traders capitalizing on movements between support and resistance or waiting for a breakout. In Dogecoin’s case, this formation indicates a sustained uptrend. A breakout above the upper trendline suggests further bullish movement, whereas a breakdown below the lower support line could signal a trend reversal.
Since 2015, DOGE has followed this pattern, bouncing back whenever it reaches the lower boundary. At its current position near this key support level, historical trends suggest the potential for a rebound.
“If DOGE holds support at $0.17, it could spark a rally toward $2.74,” Martinez speculates. Such a move would mark an extraordinary 1,450% increase from its present price. Conversely, if the support level fails, DOGE could slide to the $0.06 Fibonacci retracement level.
Current Market Performance
Dogecoin has struggled to reclaim the $0.20 level since falling below it in late February. At the time of writing, DOGE is trading at approximately $0.195, reflecting a decline of over 3% in the past 24 hours. Whether the meme coin can sustain its historical pattern of bouncing back remains to be seen, but the coming weeks could be pivotal in determining its next major move.
