Analyst Javon Marks Maintained His Bullish Outlook on Dogecoin

Citing a confirmed breakout and a sustained bullish price structure.

Analyst Javon Marks has maintained his bullish outlook on Dogecoin (CRYPTO: DOGE), highlighting a confirmed breakout and a sustained bullish price structure.

Despite recent pressure that saw Dogecoin fall from $0.25 to $0.21, the token has shown modest signs of recovery. A brief move above $0.23 around May 17-18 signaled a potential rebound.

However, as of Thursday, DOGE is trading in the $0.21 range, marking a massive 12% weekly loss. While this short-term volatility has drawn attention, analysts are focusing on long-term technical developments that may suggest broader market shifts.

Dogecoin To $0.6533?

For instance, analyst Javon Marks has maintained his April 22 target for Dogecoin, based on a multi-year trend reversal. According to a previous chart shared by Javon Marks, Dogecoin completed a breakout above a multi-year descending resistance in late 2023.

This trendline had been in place since the meme coin’s peak near $0.70. The breakout followed a prolonged pattern of lower highs and lower lows, signaling a structural change. Since then, Dogecoin has been forming a series of higher highs and higher lows, a key bullish indicator.

This was supported by a recent retracement that found support around $0.16, effectively forming a new higher low. This development further adds to the emerging bullish structure.

According to this pattern, Marks has kept a price projection of $0.6533, which represents a 200.79% increase from the current price of $0.2172. The analyst’s additional targets include Dogecoin’s potential run to its former all-time high of $0.74 and $1.25111.

$DOGE and a +174% climb to its first target at $0.6533 continues to be in the cards ?… https://t.co/7Jt82s0jLy— JAVON⚡️MARKS (@JavonTM1) May 18, 2025

$0.26 Resistance Zone Remains A Technical Barrier

Meanwhile, market analyst Ali Martinez highlighted the importance of the $0.25 to $0.26 resistance area on the 3-day timeframe. Since late 2024, this zone has acted as a ceiling for Dogecoin’s price action.

After serving as support in December 2024, the region flipped into resistance in early 2025. Since then, Dogecoin has failed multiple breakout attempts.

In February 2025, the price touched $0.28 but quickly reversed below $0.15. Another push in March saw the price exceed $0.19, yet it again fell short of breaking through. The most recent test in May 2025 saw DOGE hit $0.24, only to close at $0.2276, underscoring continued selling pressure.

According to Martinez, a sustained move above this zone would be significant, although he advised caution and preparation ahead of such a breakout.

"The final resistance level to clear for a continuation of the bull market. We'll need to see a sustained move above this zone (in the 3-day timeframe) for the trend to change. For now, best to observe and prepare," Martinez noted.

This new data from IntoTheBlock shows that activity on the Dogecoin network is heating up ?. Key usage metrics have surged over the past 7 days, suggesting heightened user engagement.

As always, use code "CRYPTOBASIC" for 10% off any tier.https://t.co/zI84p8R884pic.twitter.com/e7j702K85Z— The Crypto Basic (@thecryptobasic) May 18, 2025

On the other hand, on-chain data from IntoTheBlock showed a rise in activity on the Dogecoin network. According to the latest data, several key usage metrics increased over the past seven days, signaling heightened user engagement.

Specifically, new addresses rose by 102.40%, while active addresses increased by 111.32%. Additionally, zero balance addresses, often seen as indicators of network turnover or recent activity, climbed by 155.38%.

This rise in activity comes amid the broader market rally, indicating that Dogecoin’s user base is becoming active again amid recent improvements.