Dogecoin (DOGE) Price Prediction for March 2023: Can the Meme Coin Reclaim Previous Highs?

After a spectacular rally in late 2024, fueled by renewed crypto enthusiasm and political tailwinds, Dogecoin (DOGE) has struggled to maintain momentum.

Dogecoin (DOGE) has failed to maintain momentum after a spectacular rally in late 2024, sparked by renewed crypto enthusiasm and political tailwinds.

The meme coin, which began 2024 at $0.3135 after posting a 252.04% annual gain, has since lost 29% in the past month, catching traders off guard.

At press time, DOGE is trading at $0.256, with a year-to-date loss of 19%. However, the meme coin is showing signs of recovery, gaining 0.5% in the past 24 hours. Despite this modest rebound, concerns remain over its ability to reclaim previous highs, especially as it struggles to hold key support levels.

Interestingly, even the reports of Bitwise filing for the first-ever physically backed Dogecoin ETF have failed to generate significant momentum, with the market showing a muted response.

Finbold AI predicts DOGE price target for March 1

With volatility persisting, Finbold consulted its artificial intelligence (AI) price prediction tool to gauge how the meme cryptocurrency will perform in March.

Factoring in technical indicators and recent price action, the model projects an average DOGE price of $0.268, with a 4.87% increase from the time of prediction at $0.256.

However, AI models diverge sharply on Dogecoin’s potential movement. The most bullish forecast, generated by Gemini 1.5, anticipates a 21.31% surge, pushing DOGE as high as $0.310 in the coming days.

On the bearish end, DeepSeek Chat presents a more cautious outlook, predicting a 2.17% decline, which could see Dogecoin retreat to $0.251—a scenario likely driven by potential market corrections or weakening buying momentum.

Analysts’ take on DOGE price

Technical analysis is also showing signs of a rebound. The meme coin is forming a symmetrical triangle on the one-hour chart, a pattern that typically precedes a breakout, according to analyst Trader Tardigrade.

The key resistance levels to watch are $0.260 and $0.270, while major support sits at $0.244 and $0.238. A breakout above $0.260 could trigger strong upward momentum, while a drop below $0.244 could expose DOGE to further downside pressure.

Adding to the bullish case, Ali Martinez observed that whales had purchased 110 million DOGE in the last 48 hours, suggesting growing confidence among large investors.

Whales bought 110 million #Dogecoin $DOGE in the last 48 hours! pic.twitter.com/bwMiGNW0gp

With that being said, analysts are generally bullish on DOGE and believe that the asset has more room to grow. If alt season finally kicks in, it is well-positioned to receive a huge influx of capital that could push the asset to previous highs and beyond.

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