- A top analyst predicts Dogecoin could surge over 250% to its highest price since 2021 if it successfully rebounds from the key $0.13 support level.
- Despite recent losses, historical patterns suggest a strong bounce is likely, with targets as high as $0.484 and beyond.
Dogecoin (DOGE) could be on the verge of a massive rally, potentially reaching its highest price since 2021—if it successfully holds a key support level, according to prominent market analyst Master Ananda.
In a recent TradingView analysis, Ananda noted that the meme coin is nearing a decisive point after falling 4.8% today amid a broader crypto market pullback. Bitcoin’s drop to $102,758 triggered a market-wide downturn, pushing DOGE toward its third consecutive daily loss and a 13.6% decline in just three days.
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Despite the slump, the analyst remains bullish in the long-term, identifying Fibonacci retracement levels as crucial indicators. Dogecoin has already broken below the 0.618 Fib level at $0.178 and is now inching closer to the 0.786 mark at $0.158. If both levels fail to hold, DOGE could revisit its April low near $0.13.
“This $0.13 level has proven to be a reliable support zone historically,” Ananda explained, pointing to strong rebounds in July, October, and November 2024. He emphasized that unless DOGE’s RSI plunges into extreme weakness—a scenario he deems unlikely—the meme coin is expected to bounce again.
Ananda advised that a drop to April’s lows could present an “all-in” opportunity, recalling the last time DOGE surged over 200% from that region. According to his forecast, Dogecoin may rally more than 250% following a successful retest, targeting prices above the December 2024 high of $0.484.
At press time, Dogecoin trades at $0.173—approximately 20% above the key $0.13 support and 180% below Ananda’s projected high. Other analysts echo similar bullish sentiments, with some setting long-term targets as high as $1 or even $2.90 for the current market cycle.
As Dogecoin tests this pivotal zone, the coming days may determine whether the top meme coin resumes its bullish trajectory or continues to search for a bottom.