Dogecoin Down 60% From December High: Cup and Handle Pattern Suggests Potential 42% Rally to $0.30
Dogecoin (DOGE), the original memecoin, is currently trading at $0.18, down more than 60% from its December 8 high of $0.4843. Despite this significant decline, technical analysts are identifying potential bullish patterns forming on the charts that could signal a reversal in the coming weeks.
DOGE/USD has witnessed a substantial decrease in network engagement, with active addresses plummeting by 95% from 2.66 million in November to just 130,282 today. This dramatic reduction in network activity has coincided with a sharp decline in futures trading volume, which has fallen from $58.2 billion in November 2024 to just $992 million in February 2025.
DOGE/USD Technical Analysis
Several technical analysts believe Dogecoin is developing a typical “Cup and Handle” pattern, a bullish development marked by a rounded “cup” followed by a smaller consolidation or “handle.” Usually speaking, this pattern points to a possible upward breakout following completion.
According to the present study, DOGE might have one last leg down before finding support close to the $0.16896 zone, therefore defining the base of the possible Cup and Handle pattern. The main resistance level needed to verify this formation is about $0.29124.
“DOGE is approaching a significant reversal zone and displaying great positive potential. Price now stands at the $0.16896 support, consistent with a possible Cup & Handle creation. One expert in a recent market statement indicated that a breakout over $0.29124 would confirm a climb toward new highs.
DOGE Key Support and Resistance Levels
For investors looking to navigate Dogecoin’s current volatility, several key price levels merit close attention:
- Critical Support: $0.16896 (Cup and Handle base)
- Initial Resistance: $0.24 (Order block)
- Breakout Confirmation: $0.29124
- Bearish Scenario Support: $0.125 (Potential “discount zone”)
- Bullish Targets: $0.50-$0.60 range
With Dogecoin still trading 71.34% below its all-time high of $0.7376 from 2021, the road to recovery remains challenging. However, the potential technical formations and indicators suggest that a significant price movement may be brewing after months of decline.
DOGE Price Indicators: TD Sequential Flashes Buy Signal Amid Bearish Market
On Dogecoin’s daily chart, the TD Sequential indicator has lately shown a buy signal despite the general pessimistic attitude. Usually indicating a possible reversal of the trend, this technical indicator shows up following nine consecutive down candles. Should validation support the Cup and Handle formation concept and perhaps cause a rise in present price levels, this could strengthen it.
Traders are simultaneously closely monitoring the $0.24 resistance level, which some experts consider as a key order block. Ignoring this resistance could set off another drop to possible lows around $0.125, which some consider as a “discount zone” for accumulation.
Dogecoin Price Prediction for March 2025
Artificial intelligence price prediction tools from CoinCodex indicate Dogecoin might see a notable attitude change in March 2025. Based on their figures, DOGE should see a 34% price rise from present levels, maybe rising to $0.283813 by March 1.
With forecasts predicting a possible high of $0.2616 on the last day of the month, the forecast shows DOGE ending February on a positive note most likely.
DOGE’s Long-Term Outlook: Rebound Potential Amid Post-Memecoin Mania
Although thousands of smaller tokens have taken focus away from the original memecoin during the recent memecoin mania—which peaked with tokens like Trump, MELANIA, and LIBRA—market watchers speculate the spotlight may eventually return to more established assets like Dogecoin when the bubble collapses.
Should the Cup and Handle pattern turn out as expected, analysts estimate DOGE may move toward the $0.50–$0.60 region, therefore reflecting a possible 150–200% rise from present values. Such an action might enable Dogecoin recover its ranking among the most popular memes in the bitcoin ecosystem.
Nonetheless, traders should exercise caution since the sudden drop in futures trading volume and network activity points to declining investor interest, which would hinder any possible comeback should not be reversed in the next weeks.
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