Dogecoin Price Forecast: Can DOGE Reach $1 After Crashing to $0.1511?

Dogecoin (DOGE) continues to capture crypto investors’ attention. Despite a minor recovery today, the Dogecoin price forecast remains bearish, raising concerns about a potential 50% crash. With the broader crypto market cooling and sentiment shaky, the future of Dogecoin now depends on key support levels, market catalysts, and Elon Musk’s possible influence.

Market Sentiment Turns Bearish for Dogecoin

The current DOGE price prediction draws attention. After falling to $0.1555, Dogecoin has risen back to $0.1511, recording a +1.09% daily gain. However, key technical indicators such as the RSI and MACD indicate bearish momentum. RSI is at approximately 37.01, which suggests oversold levels but no definitive reversal as yet. This keeps the Dogecoin price forecast under heavy bearish pressure unless a strong catalyst emerges soon.

Chart 1 – DOGE/USD live price, published on TradingView, April 8, 2025.

Market experts are also eyeing the liquidity distribution closely. There’s significant liquidity both above and below the current price, making DOGE’s next move highly unpredictable. Furthermore, a massive whale transfer of 300 million DOGE to Binance raises concerns about potential selling pressure ahead. These developments reinforce a DOGE news sentiment, with analysts warning of a deeper correction if DOGE fails to maintain support near $0.14.

Technical Breakdown and Recovery Hopes

Technical analysis reveals that Dogecoin recently broke below a multi-year ascending parallel pattern, which is a major structural breakdown for the coin. DOGE was near the key 0.786 Fibonacci retracement at around $0.16395, further solidifying bearish dominance. A decline toward the 0.618 Fibonacci level near $0.06167 is now on the table if selling accelerates. According to the latest DOGE news, the $0.131 and $0.102 support levels from October 2024 could act as temporary floors if the crash intensifies.

Despite this outlook, some crypto traders, like Trader Tardigrade, have spotted a bullish divergence forming on DOGE’s daily chart. The divergence between the RSI and price action hints that selling momentum might be slowing. If this plays out correctly, Dogecoin could see a minor bounce toward the $0.154-$0.164 range. However, flipping the $0.18 resistance remains crucial for any substantial recovery in DOGE price prediction.

Future Perspectives: Can DOGE Reach $1?

Based on the current technicals and on-chain data, this goal seems increasingly unlikely without a significant catalyst. DOGE has lost much of the retail hype that previously drove parabolic gains. Daily active addresses and social engagement metrics have plummeted, showing a declining community enthusiasm.

However, crypto markets are known for sudden reversals. A broader market recovery, unexpected news from Elon Musk, or a viral resurgence of meme coins could reignite the rally. For now, the DOGE price prediction suggests caution, as DOGE’s path to $1 looks more like a long upward battle than an inevitable milestone. Traders are advised to watch for bullish RSI crossovers and MACD flips before getting overly optimistic about DOGE.

Final Thoughts: Dogecoin Faces Crucial Test

The Dogecoin price forecast hints at minor relief rallies; the overall trend leans bearish. If key supports fail and bearish momentum continues, DOGE risks a 50% crash toward historical support zones. Conversely, reclaiming $0.18-$0.20 levels could set the stage for a surprising reversal. For now, the key question remains: Can DOGE reach $1 or slip into a deeper correction zone? The coming weeks will be crucial for Dogecoin future trajectory.