Dogecoin (DOGE) Has Once Again Captured the Crypto Spotlight

Dogecoin (DOGE) has once again captured the crypto spotlight as it reaches a critical point in April 2025. Analysts are closely monitoring its behavior

Dogecoin (CRYPTO: DOGE) prices showed signs of resistance on Thursday morning as the broader crypto market grappled with macroeconomic uncertainty.

What Happened: Major equities markets opened lower on Thursday morning after former President Donald Trump announced plans to impose tariffs on goods from Vietnam.

The S&P 500 saw its worst downturn since December 2022, trading down 1.1%. Major crypto-linked stocks were also down sharply, with Coinbase Global (NASDAQ:COIN) stock sliding 4.7% and MicroStrategy (NASDAQ:MSTR) stock declining by over 7%.

However, despite the sell-off, DOGE showed strength and could be indicating a potential surge.

According to crypto analyst Ali Martinez, if DOGE manages to hold support at $0.16, then we could see a rally to $0.57. Alternatively, if that level breaks, then DOGE could spiral down to $0.06.

"S&P 500 posts biggest sell-off since December 2022 as Trump's tariff plan sparks market turbulence. Major crypto-linked stocks also slide, with Coinbase down 4.11% and MicroStrategy down 7.1%. But Dogecoin bucks the trend with a slight upswing, sliding up 0.41% to trade at $0.1709 as risk assets lose momentum. This shift runs counter to the narrative of risk assets losing momentum."

Can DOGE Break Through The $0.21 Barrier?

At press time, Dogecoin was trading at $0.1709. Investors are keeping an eye on the Relative Strength Index (RSI) which is at 62.32. An RSI above 70 indicates a stock is becoming overbought.

On the 1-minute Moving Average Convergence Divergence (MACD) chart, there is a bullish crossover which could indicate further strength for bulls. The histogram has also turned positive which is generally an entry point for short-term traders who are expecting an increase.

The chart below shows Dogecoin is currently trading above key Fibocacci levels of retracement.

Chart 1: Dogecoin (DOGE) 1-Minute Chart

The current statistics show Dogecoin trading volume is still quite low at 4.9K which indicates traders are showing cautious optimism.

Major players haven’t yet fully committed to either side, but retail traders and speculative investors appear to be setting their sights on the next resistance level at $0.21. If DOGE manages to break through this barrier, then it could rally to $0.24 and even $0.29 aligning with the broader predictions of a continued bullish trend for DOGE.

How Will Tariffs Impact DOGE In The Long Run?

While traditional equities like Tesla, Inc (NASDAQ:TSLA) stock plunged by 5% in response to the news of the tariffs, meme coins like DOGE showed surprising stability.

Analysts believe that the market might be rotating toward alternative assets in an attempt to hedge against political risk which gives meme coins a surprising edge.

Looking ahead, much will depend on how global markets digest the impact of Trump’s economic stance. A sustained bullish trend for DOGE is possible if investors continue to seek refuge in non-traditional assets.

Read Next: Donald Trump Says Tariffs On Goods From Vietnam Will Begin Next Week