DOGE Could Still Surge to $3 if it Holds This Key Support Line: Analyst

TL;DR

Although the landscape around the entire crypto market and meme coins, in particular, seems quite gloomy recently, DOGE still has a chance for a major rally and a new all-time high, said Ali Martinez.
However, it’s essential for the OG meme to remain above a certain support, which has historically led to impressive runs.

The most critical support zone for #Dogecoin $DOGE is between $0.19 and $0.16. If this level holds, the $3 target remains a strong possibility. pic.twitter.com/VZyqSM2p8U

— Ali (@ali_charts) February 22, 2025

It’s safe to say that the post-US-election mania has faded for many crypto assets, and some, such as DOGE, has returned to levels close to those before November 5.

Recall that Dogecoin’s price had soared to roughly $0.5 after Trump won the elections but now struggles to remain above $0.25 after a 31% monthly decline.

Nevertheless, the OG meme token has seen worse, even during this cycle, as it slumped toward $0.2 on a couple of occasions in times of substantial price crashes. According to the popular analyst Ali Martinez, though, the asset still has a chance to resume its rally and head toward uncharted territory.

To do so, it needs to sustain the $0.19 support line, which he labeled as ‘the most crucial’ zone. He added that DOGE has been trading inside an ascending channel for years and has ‘tended to rebound’ from the lower boundary since 2014 and head toward the upper one.

The most recent such bounce-off occurred during the early February massacre, which could be the propeller for a surge toward $3 and even $4.

“If history repeats, as long as Dogecoin holds above $0.19, it could rally to the resistance trendline at $4.” – Martinez concluded.

There’re certainly some bullish developments happening in the Dogecoin ecosystem, such as the multiple filings for a spot DOGE ETF in the US, which many experts believe have a great chance of succeeding under Trump’s administration.

Consequently, analysts have outlined impressive price targets for the largest meme coin, and many agree there will be a new all-time high.

However, investors should be wary before allocating funds to any assets, particularly meme coins, about the risks of significant volatility and rapid crashes, especially in times of uncertainty that could rattle the entire market, just like yesterday’s hack against Bybit.