Dogecoin has been facing a downturn in its price recently, currently trading at $0.1690. This decline is attributed to the decreased participation in Dogecoin Open Interest (OI), which has caused the price to fall below the crucial $0.174 level. Despite this bearish trend, Dogecoin enthusiasts remain optimistic about its future potential.
Experts in the crypto space have different projections for Dogecoin’s price. Crypto analyst Ali Martinez suggests a 60% price move for Dogecoin, with the key range being between $0.16 and $0.22. A daily close outside of this range could determine the future trend of Dogecoin. Traders are advised to wait for confirmation above the resistance or below the support levels.
On the other hand, Javon Marks is more optimistic, projecting gains of 260% for Dogecoin, reaching $0.65. He further suggests that if Dogecoin continues on its bullish trajectory, it could even hit $1.25, resulting in nearly 600% gains.
However, if Dogecoin fails to meet these optimistic projections and experiences a further decline, it could fall towards the lower border of the falling channel developed in the first half of 2025. The initial support level is around $0.128, with the next major support at $0.097.
Despite the current bearish sentiment surrounding Dogecoin, experts and enthusiasts alike continue to believe in its potential for growth. Whether Dogecoin will reach $0.10 or even $1.25 remains to be seen, but the crypto community remains hopeful for a bullish trend in the future.