As of March 24, 2025, Dogecoin is trading at $0.1840, rising 7.11% in the last 24 hours at the time of press. This price movement increases its market capitalization to $27.33 billion, also rising 7.12%. Furthermore, the trading volume skyrockets by over 103.89% to over $1.08 billion, in total, indicating many traders are joining in on the action here.
Source: coinmarketcap
In a recent tweet on X, Ali highlights a breakout from a triangle pattern, suggesting a potential 16% price increase. The current price is 0.18305 USD, up 4.48%, with a target near 0.19500 USD.
Are Technical Indicators Indicating a Bull Run?
The TradingView chart offers further context for Dogecoin’s momentum. The Relative Strength Index (RSI) is currently at 47.60, so it is still close to neutral territory. However, prices are on the rise, indicating buying momentum picks up without an overbought signal appearing.
On the other hand, the Moving Average Convergence Divergence (MACD) has a bullish crossover, with the MACD reading at 0.00413 and the signal line reading at -0.01316. With a separate positive histogram, this crossover also points to bullish sentiment. Therefore, these indicators indicate the upward trajectory continuing if buying pressure remains consistent.
Source:tradingview
What is the Impact of Liquidation Levels on Dogecoin?
The TradingView chart also shows key liquidation levels traders should look out for. Short liquidation is at the $0.18433 level, while long liquidation comes at the $0.17069 level. Currently, at the price of Dogecoin of $0.1840, we see the price is right below the short liquidation level. If the price breaks the level of $0.18433, it could push a short liquidation driven momentum where the traders betting against Dogecoin would have to buy the asset back. This could ultimately compound the momentum to push the price higher.
On the other hand, if the price falls below $0.17069, we could see long liquidation driven selling where buyers will begin to sell the prices down. Therefore, the liquidation levels serve as tipping points which could either lock in gains from the rally, or push the price back down. Traders need to monitor these levels as a proxy for potential down- and uptrends.
Source: coinglass
Conclusion: Will Dogecoin’s Rally Hold Strong?
Dogecoin is currently at $0.1840, after a 7.11% rise, along with growing volume and bullish chart indicators. The RSI and MACD show Dogecoin can continue with gains. Should it break out above $0.18433, it could cause a cascade of short liquidations that would eventuate in a higher price. If it instead trades below $0.17069, there is a chance of selling pressure being initiated based upon long liquidation bounce taking place. The verdict leans bullish, yet buy carefully and stick to your guns because Dogecoin still has attempts to back the price higher.
