Dogecoin Eyes 443% Rally as Analysts Spot Key Support Level

Crypto analyst Kamran has ignited speculation with a chart analysis suggesting Dogecoin (DOGE) could rally 443% from current levels, potentially pushing its price above $0.45. The core of this bullish thesis hinges on DOGE’s return to what he identifies as the $0.10 “macro support” level. According to Kamran, this specific price zone has historically acted as a launchpad for explosive rallies in the meme coin’s past, marking it as a critical area for traders to watch.

This perspective is echoed by fellow analyst Crypto Patel, who recently highlighted the same macro support. Patel goes further, advising investors to view any dip between $0.06 and $0.08 as a strategic accumulation opportunity. His long-term target is significantly more ambitious, projecting a potential rally to between $1 and $2, which would establish new all-time highs for Dogecoin. These analyses frame the current price weakness not as a breakdown, but as a potential setup within a familiar bullish pattern.

Despite the optimistic long-term charts, near-term momentum tells a different story. Analyst Trader Tardigrade noted that while Dogecoin is technically holding above a key descending trendline—a structure he describes as still bullish—its momentum is “weak.” He observed that DOGE has tested this trendline for six consecutive daily candles without a decisive break, suggesting the price action is “running on fumes.” For a legitimate breakout, Tardigrade emphasizes the need for “genuine buyers,” a volume spike, and conviction candles; until then, he considers bullish hopes merely “hopeful thinking.” His own chart indicates a more modest potential rally to $0.14 if support holds.

The broader market environment adds substantial pressure. Dogecoin’s decline is part of a wider crypto market crash led by Bitcoin (BTC). This sell-off was triggered in part by new macroeconomic developments, specifically former U.S. President Trump’s announcement of plans to increase the global tariff rate from 10% to 15%. This news catalyzed a drop in crypto prices across the board. Market sentiment data from CoinGlass reflects this bearish tilt, showing a Dogecoin long/short ratio of 0.8, indicating that more traders are currently positioned for further decline than for a rise.

Amid this clash between bullish technical patterns and bearish immediate pressures, Dogecoin’s derivatives market is experiencing a notable surge in activity. This suggests traders are actively positioning for heightened volatility, regardless of the eventual direction. According to the data, DOGE’s trading volume spiked by more than 40% to reach $1.56 billion. Simultaneously, options trading volume and open interest surged by 22% and 42%, respectively.

This spike in derivatives activity is a critical indicator of professional and institutional interest. It shows that while retail sentiment may be bearish (as indicated by the long/short ratio), sophisticated market participants are increasing their exposure and hedging strategies. The concurrent rise in both volume and open interest points to new money entering the market and establishing fresh positions, setting the stage for significant price movement once a clearer trend emerges from the current consolidation.