Dogecoin (DOGE) Price Drops After Several Weeks of Strong Performance

This week, the price of Dogecoin (DOGE) has decreased after several weeks of strong performance. From a price of $0.25, Dogecoin (DOGE) dropped

The price of Dogecoin (DOGE) has decreased this week after several weeks of strong performance, while technical analysis suggests a continuation of the long-term target.

What Happened: After trading at a high of $0.25 earlier in the week, Dogecoin (DOGE) dropped to around $0.21.

Although it briefly climbed back above $0.23 in mid-May, the gains were short-lived. Currently, Dogecoin (DOGE) is hovering around $0.21, marking a weekly decline of 10%.

Investors are optimistic, expecting long-term signals to indicate a new uptrend for the meme coin.

Javon Marks, a leading analyst, noted that a key trendline has been breached at the end of 2023, which was previously the upper limit for Dogecoin (DOGE) since its peak at $0.70.

According to Marks, this breach opens the door for the formation of a higher top and bottom. With the latest bottom holding near $0.15, Marks still maintains his target at $0.65, which translates to a potential upside of 200% from $0.21.

He also hints at the possibility of reaching $0.74 and $1.25 as the next milestones.

Ali Martinez, a market watcher, reports that the $0.25-$0.26 range is a major barrier. This zone previously served as support in December 2024, but turned into resistance in early 2025.

Since then, Dogecoin (DOGE) has made several attempts to break the limit but failed. In February, the price briefly reached $0.28 before dropping back below $0.15.

A rally in March managed to cross $0.19, but was unable to hold on.

Recent data from IntoTheBlock shows a substantial increase in on-chain activity for Dogecoin (DOGE).

The number of new addresses increased by more than 100% in the last seven days. Active addresses also rose by 110%. In fact, addresses with zero balance increased by 155%, which often indicates new participation or address purging.

While an increase in on-chain numbers does not necessarily mean an increase in price, it does indicate that more users are returning to making transactions.

What's Next: Although the long-term target for Dogecoin (DOGE) sounds promising, achieving it won’t be easy.

To reach $0.6533 or above, Dogecoin (DOGE) must first stabilize above $0.26, then break $0.28 with strong volume support.

Large price fluctuations could make some shareholders choose to take profits.

While technical analysis is favorable, external events such as buzz on social media or listing on a new exchange may be required to push Dogecoin (DOGE) past $0.30.

In the short term, traders will be watching to see if Dogecoin (DOGE) can reclaim $0.25 and hold it for a few days.