Dogecoin (DOGE) Price Prediction Remains Bearish, Raising Concerns About a Potential 50% Crash

Dogecoin (DOGE) continues to capture crypto investors' attention. Despite a minor recovery today, the Dogecoin price forecast remains bearish

Dogecoin (DOGE) has come back a bit today, rising +1.09% to trade at $0.1511. However, the cryptocurrency remains in oversold territory, and the latest Dogecoin price prediction remains bearish.

Dogecoin price chart on the 8th of April 2025. Source: Benzinga

After falling to lows of $0.1555, the price of DOGE has seen some respite. This keeps the cryptocurrency in the oversold zone, as the RSI on the 4-hour chart is at approximately 37.01.

This suggests that while some oversold levels have been reached and a small recovery could occur, there is no clear indication yet of a large reversal.

This finding is crucial as it keeps the Dogecoin price prediction heavily skewed toward further downside unless a strong market catalyst emerges soon.

Dogecoin: Can It Reach $1 This Year?

As reported by Benzinga earlier today, there’s significant liquidity both above and below the current price, making DOGE’s next move highly unpredictable.

Moreover, crypto traders are noting that a massive whale transfer of 300 million DOGE to Binance raises concerns about potential selling pressure ahead.

These developments add to the broader crypto news sentiment, which is shaky at best. According to the latest DOGE news, analysts expect a deeper correction if DOGE fails to maintain support near $0.14.

Technical Breakdown: Is A Crash Coming?

According to the latest analysis from TradingView, Dogecoin has broken below a multi-year ascending parallel pattern, which is a major structural breakdown for the coin.

DOGE was also recently trading near the key 0.786 Fibonacci retracement at around $0.16395, which further cements bearish dominance. A decline toward the 0.618 Fibonacci level near $0.06167 is now on the table if selling accelerates.

If the crash intensifies, the $0.131 and $0.102 support levels from October 2024 could act as temporary floors. However, if those break, there’s a chance we might see a 50% crash in the price of DOGE.

This outlook is somewhat countered by the fact that 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 would be needed 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 latest Dogecoin 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. The cryptocurrency faces a crucial test in the coming weeks.