Dogecoin Price Prediction for 2025: How Will the Price of DOGE Memecoin Look?

Dogecoin has always been the coin favored by memecoin traders. As the memecoin market experienced a strong bullish trend this month, analyzing Doge's price action has become a standard. Notably, this segment has increased by about 15% in its portfolio to $62.58 billion from $56.18 billion. Subsequently, top meme coins exhibited mixed price action during this period.

However, with Elon Musk's departure from the Donald Trump administration, the price of Dogecoin has decreased by about 8% today, with a daily trading volume of $2.33 billion, up 52.31%. But looking on the bright side, this memecoin has increased significantly by 15% in value this month. With the largest memecoin hovering around the $0.20 mark, will the price of the cryptocurrency DOGE record a strong bullish reversal and form a parabolic increase in this altcoin season? Now let's explore the market analysis and predictions for the price of DOGE that could occur in the next month. On-chain DOGE Price Analysis The volatility of the Doge coin has increased to 1.15 today from a level of 0.902 on May 1st. The ideal increase in price volatility indicates increased buying and selling pressure on a token in the market.

Additionally, the open interest of the largest memecoin by market capitalization has increased from 1.56 billion to 2.09 billion, a significant increase of 33.98% in just 30 days. Evaluating the on-chain data, a sudden surge in the stacking of this meme coin can be observed.

Dogecoin Witnessing a Strong Reversal? After showing sideways action for about 3 weeks, the price of DOGE has recorded increased bearish action, leading to it experiencing negative action for 3 consecutive days. During this time, the price of the memecoin has decreased by more than 11%, indicating an increase in outflow pressure.

The Moving Average Convergence Divergence indicator (MACD) has witnessed a steady increase in the red chart on the daily timeframe. Furthermore, the 12 & 26-day EMA has seen a significant decline in the price chart of Dogecoin, indicating a high likelihood of a short correction occurring before a potential pullback. The simple moving average (SMA) has witnessed a bearish convergence on the price chart and serves as a resistance level in the 1-day time frame. This indicates a negative outlook for the largest memecoin next week. Will the DOGE Memecoin be bullish again? Maintaining a value above $0.20 could set the stage for Dogecoin to retest the resistance level of $0.243. If bullish sentiment holds at that time, this could lead to the price aiming for the upper resistance level of $0.286 in June. However, if the pessimistic sentiment increases, the cryptocurrency Dogecoin could drop to the level of $0.18. Consider that if the buyers do not regain at that time, the price of the meme coin DOGE could fall to the lower support area of $0.16 in the near future.