Dogecoin has continued to struggle yet again with the price dropping over 8% in today’s session. This drop has seen DOGE reach the lowest point in the last four months and the price of this dog-themed memecoin could plummet further. The recent Dogecoin performance can be attributed to the recent market sell-off since market participants are in extreme fear.
With the coin currently depicting a Falling Wedge pattern, a further drop below the current level could result in further decline as a result of massive offloading. However, the price could be set for a recovery if a rebound occurs as it did in previous cycles according to historical data analysis by Trader Tardigrade.
DOGE Approaches the Mid-Band of the Gaussian Channel; Will It Rebound?
In a recent analysis by Trader Tardigrade, “Dogecoin is approaching the mid-band of the Gaussian Channel.” According to historical data, this memecoin has often rebounded once it reached the mid-band zone of the Gaussian Channel. Looking at the chart shared by Tardigrade, Dogecoin has done so twice in recent times.
The price of Dogecoin moved in a falling wedge from November 2023 to February 2024. However, once the price hit the mid-band of the Gaussian Channel, the price rebounded. This rebound pushed the price by over 300% to around $0.21500.
Upon reaching this level the price pulled back from May 2024 and continued to move in a Falling Wedge pattern till around September where it rebounded once again. This rebound also occurred as the price reached the mid-band of the Gaussian Channel.
Dogecoin then surged to $0.46000 price level fueled by Donald Trump’s win of the U.S election in November 2024. However, the price has since dropped in a falling wedge pattern to the current price level. According to Tardigrade, “If $Doge responds similarly to the mid-band, it might be time for a bounce.”
Tardigrade Predicts Dogecoin Could Reach $1 Upon Rebound
In a different analysis, Trader Tardigrade predicted that if a rebound occurs at the mid-band of the Gaussian Channel, DOGE could surge to $1. The analyst attributed his prediction to recent Dogecoin cycles where DOGE experienced a pull back of -64% in two cycles but later pumped hard upon rebound.
From October 2022 to June 2023, Dogecoin had a pull back of -64% after which it surged by over 300%. Additionally, from March 2024 to August 2024, DOGE experienced another pullback of -64% after which it surged by over 500%.
In the recent cycle which is from December 2024 to March 2025, Dogecoin has faced a pullback of -66%. According to Tardigrade, the current pullback “might be enough to trigger another PUMP.” He further added that “this PUMP could potentially reach the $1 mark.”
How is DOGE Performing Amidst Heightened Volatility?
The data on Coinmarketcap shows that Dogecoin is trading at $0.1662 as of the time of this writing. This price level depicts a 8.01% dip in the day hence confirming the recent turmoil in the market.
Trading activity around Dogecoin has also risen as the price falls further. This could mean that selling pressure is mounting and holders are offloading their tokens. Currently, the trading volume of DOGE is at $2.25 Billion with a 104.67% surge in the last 24 hours.
If the memecoin fails to rebound at the mid-band of the Gaussian Channel, a further dip could occur risking a market crash. However, if the price rebounds and bulls dominate the market the coin could surge towards $1 as predicted by Tardigrade. But, favorable market conditions must prevail for Dogecoin to hit a new all-time high.
