TL;DR
- The crypto market crash this week wiped out billions of dollars as every digital asset plunged hard. However, DOGE managed to remain north of a key support line on the daily scale.
- This suggests an upcoming rally, according to analysts, and a potential surge by triple digits.
The massacre that took place within the past week was nothing short of mindblowing, and meme coins were hit the hardest. Recall that DOGE stood above $0.26 last Friday before the Bybit hack, Trump’s escalating trade war, and the overall market crash started to push it south hard.
The culmination came a week later as the largest and oldest meme coin plunged to just over $0.18. This represented a 30% slump within the span of a week. Moreover, DOGE had dumped by 60% since the 2025 peak of $0.44.
However, the asset didn’t spend much time below $0.19 and actually managed to reclaim it within hours. This is of particular significance as the $0.19 support line has been described multiple times as crucial for DOGE.
If broken, it could result in a price drop to $0.06, which would essentially invalidate the entire bull market narrative. In contrast, a rebound from it could mean a surge to $0.5, as Ali Martinez and other analysts noted on X.
To do so, though, DOGE has a long way to go as it needs a 150% surge from this point on in a time when all the hype in the crypto market has evaporated. Still, Dogecoin has proven before that it is able of spectacular price rises in relatively short times.
#Dogecoin $DOGE holds above a critical support level! pic.twitter.com/jDNo5aoAdw
— Ali (@ali_charts) March 1, 2025
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