• DOGE price drops 4.25% in 24 hours; trading volume surges 49.62% to $2.73 billion, indicating increased market activity.
• RSI at 53.76 and MACD at -0.00013 suggest neutral momentum; the market awaits a clearer direction.
• Analysts target DOGE at $0.6533, forecasting a 170% increase if resistance is broken, with the next target at $1.25.

Dogecoin (DOGE) is currently trading at $0.2245, representing a 4.25% decrease in the past 24 hours. The trading volume increased by 49.62% to reach $2.73 billion, despite a previous decline. There is a potential for a revival in the near future, as this volume growth suggests increased interest levels in the market and the activity of investors.

Source: CoinMarketCap

DOGE, however, is in a bearish trend, as its price has decreased by 6.02% within the last week. This sharp decline indicates market uncertainty, while the high trading volume suggests that trading activity is still occurring. 

DOGE Poised for 170% Surge to $0.6533

Javon Marks, a crypto analyst, is optimistic in spite of the depressed prices of DOGE in recent days. He mentioned that DOGE was observing greater lows, implying there could be an impulsive surge. According to analysts, such developments show that the cryptocurrency is strong, and it might take a huge uptick in the near future at the current price.

Marks has indicated that DOGE will be worth $0.6533 as a target, implying a 170% increase in its current price. In case DOGE is able to overcome this resistance, then a potential next price target can be at $1.25. This would indicate a powerful bullish tendency, and it can show great profits shortly.

Source: X

Also Read: FLOKI Price Prediction 2025: Will It Hit $0.000235?

RSI Indicates Neutral Momentum, MACD Suggests Slowing Market

The DOGE Relative Strength Index (RSI) indicates a neutral market with 53.76. That indicates that there is neither over-selling pressure nor over-buying in the cryptocurrency market. The history of RSI changes in the last week indicates that the market is on edge, waiting to see clearer signals. This middle point indicates that the market is undergoing a consolidation period.

On the MACD (Moving Average Convergence Divergence), the trend is slightly bearish. The MACD value reads -0.00013, which is an indication that the momentum is slowing down. The histogram shows that selling pressure is low and a turnaround may be realized should the buying activity increase. 

Source: TradingView

Open Interest Dips as Trading Volume Continues to Rise

According to CoinGlass data, the trading volume increased by 49.65% to reach a new high of $6.95 billion. Nevertheless, Open Interest (OI) decreased by 5.04% and stood at $3.49 billion. The DOGE OI-weighted funding rate stands at 0.0078%, meaning stability in the futures market. These figures indicate robust market involvement despite the battles in price.

Source: CoinGlass

Despite short-term struggles, the token has a promising future. Investors are advised to monitor for indications of a breakout. If the market alters its trajectory, cryptocurrency may experience a substantial increase, and it is a coin that will be monitored in the upcoming weeks.

Also Read: Bitcoin Faces Pullback: Will Q4 Rally Push Price Over $130,000?