23 April 2025
Dogecon continues to look toward a rebound despite the market sentiment. This has been strengthened by the increased market participation and rise in the Bitcoin price over this time. As bulls continue to dominate the market now, it could mean an end to the downtrend that began in January 2025, and the beginning of a recovery that could see the Dogecoin price reach new all-time highs.
Dogecoin Price Is Hitting A New Bottom
According to pseudonymous crypto analyst Master Ananda, the Dogecoin price is going through a classic resistance-turned-support dynamic, which could trigger a rally. This began back in 2024 when the Dogecoin price hit new local peaks, but given that the Dogecoin price is trading at what is expected to be the 2025 bottom, this could be good news for the meme coin.
As the crypto analyst points out, the Dogecoin price has undergone a perfect 3-3-5 correction pattern based on a complex ABC wave. At the same time, the market action, as well as the Fibonacci levels, could be showing the end of this correction. The thing about these types of corrections is that once they are done, an impulse wave tends to follow, which turns out to be a bullish wave, more often than not.
“After the late 2024 bullish cycle, Dogecoin entered a classic correction,” the crypto analyst explained. “This correction started on the 08-Dec. ’24 session and ended 07-Apr. ’25, support was found in the mid- to late 2024 consolidation range and resistance zone.”
Where Is The Price Headed From Here?
With a breakout expected to follow the end of the ABC correction, the next targets have been placed at more than 100% by the crypto analyst. As Master Ananda explained, the Dogecoin price is currently on the verge of a maximum bullish momentum and growth. As such, there is a higher chance that the resultant surge could trigger a rise toward all-time high levels.
However, on the shorter timeframe, the crypto analyst points out a possible 333% rise from here. This would put the Dogecoin price above $0.4 and at the same time, put it on a path to beating $0.7 in the end.
Additionally, the crypto analyst points out that the lack of action on the chart, as well as the muted trading volume, suggests that it is still very early for Dogecoin. When it eventually moves, it is expected to explode, especially as the leading meme coin. “Dogecoin is still trading at bottom prices, go for it, it is not too late,” the crypto analyst said in closing.