Dogecoin has been making waves so far in this bull market. Recently, the meme coin experienced a significant price crash after recording double-digit gains and rallying to new highs earlier this year. Despite the cryptocurrency’s declining momentum, a seasoned crypto analyst has highlighted strategic entry points and potential upside targets for DOGE. The analyst also provided a thorough breakdown of Dogecoin’s bullish developments for investors considering buying the meme coin.

Analyst Shares Dogecoin Bullish Developments And Buy Strategy

In a recent X (formerly Twitter) post on February 4, crypto analyst Anbessa shared a technical analysis of Dogecoin’s price movements and bullish developments. The analyst disclosed that he had entered the market at an early stage of $0.09, possibly due to conviction in its potential and for the attractive meme culture. He claimed it was the best entry point, as he had caught a local bottom.

Following the $0.09 entry, the asset experienced a bullish breakout, surging 5X and skyrocketing to key resistance at the 0.786 Fibonacci level. This key level is typically used to identify potential price reversal zones; however, in this case, it marked the beginning of a “throwback” move for Dogecoin.

After its sharp 5X rally, Dogecoin’s present price action has entered a throwback phase. This means that its price is now correcting to retest previous support levels. According to the data from CoinMarketCap, DOGE plummeted by a staggering 20.1% in the last seven days. This massive price correction marks one of the highest in 2025. Moreover, Dogecoin’s value plunged over 30% over the past month. 

Presenting a price chart, Anbessa has pinpointed the $0.26 price point as a critical area where Dogecoin could find potential support before continuing its upward momentum. Interestingly, this key support level also aligns with Dogecoin’s Ascending Channel resistance, which the trader predicts a retest may occur. 

Sharing a bullish outlook for the meme coin, Anbessa disclosed that DOGE/BTC is currently retesting a breakout from a long-term Falling Wedge pattern on the High Time Frame (HTF). This pattern is typically seen as a historically bullish structure, signaling a potential price reversal to the upside. 

Anbessa has predicted that if this Falling Wedge breakout retest holds, a bullish continuation rally is expected, potentially leading to a new all-time high for Dogecoin. The analyst has set his DOGE ATH target above the 1.00 Fibonacci level at $0.77. He also noted that bullish catalysts like Elon Musk’s tweets about DOGE have zero effect on the meme coin’s price action at this current market stage. 

Is Now A Good Time To Buy DOGE?

Based on Anbessa’s analysis, Dogecoin’s recent price action aligns with classic bullish patterns, suggesting that its current pullback to the $0.26 level could be a buying opportunity. If support holds, the analyst expects DOGE to experience another leg up, potentially reaching a new ATH. 

However, the market remains volatile as ever, and investors should recognize that most predictions are purely speculative. As such, price movements from unstable assets like Dogecoin can be unpredictable, driven by hype, social media trends, public sentiment, and sudden market changes.

Featured image from Adobe Stock, chart from Tradingview.com

Crypto prices today mainly continued showcasing a sluggish performance, reverberating investor uncertainty globally. Bitcoin (BTC) price faced market turbulence and stood at $97K, whereas ETH managed to trade in the green territory. Besides, XRP and Solana faced hurdles, with their intraday trading session primarily in the red zone.

However, FTX Token (FTT) emerged as the leading gainer on Thursday, defying the broader market trend. Notably, the coin rises in tandem with the FTX exchange’s Bahamas creditor reimbursement plan looming for February 18.

Here’s a brief report on some of the most trending coins’ prices on Thursday.

Crypto Prices Today: BTC, XRP, & SOL Turbulent But ETH Rises

It’s worth noting that the global crypto market cap was down 0.71% from yesterday, reaching $3.19 trillion as of press time. Further, the total market volume also witnessed a 36.88% decline to $122.2 billion. When coupled with the intraday price movements, these stats indicate that traders and investors are currently cautious.

Bitcoin Price At $97K

BTC price witnessed a nearly 1% drop in value over the past 24 hours, reaching $97,409. The flagship coin’s intraday low and high were $96,174.83 and $99,113.21, respectively. Bitcoin futures OI slipped marginally by 0.2% intraday and is currently at $58.92 billion. Besides, BTC recorded liquidations worth $35.79 million in the past 24 hours, per Coinglass data.

Despite the waning movement, the coin’s long-term prospects glimmer with optimism as institutional interest in the asset continues to rise. MicroStrategy recently rebranded itself into Strategy whilst also revealing Q4 2024 earnings. This saga garnered significant attention to BTC, as the rebranded logo contains Bitcoin’s symbol. Also, the firm grew substantially in Q4 2024, completing $20 billion of its $42 billion capital plan in the wake of Bitcoin adoption.

Ethereum Price Jumps 3% Defying Broader Crypto Market Trend

Meanwhile, ETH price witnessed an uptick of 3% in the past 24 hours and is currently trading at $2,808. The coin’s intraday low and high were $2,710.52 and $2,824.40, respectively. Ethereum rises despite $39.76 million worth of liquidations witnessed in the past 24 hours. CoinGape reported that ETH OI spiked notably, with the latest Coinglass data indicating a jump of nearly 4% in the futures OI over the past 24 hours, reaching $24.44 billion.

XRP Price Slips 3%

XRP price lost 3% of its value over the past day and is currently sitting at $2.42. The coin’s 24-hour low and high were $2.36 and $2.57, respectively. Notably, the Ripple Labs-backed asset’s futures OI slipped by nearly 1.5% and is at $3.62 billion.

Solana Price Follows

SOL price also tanked by 3% intraday, reaching $200. The crypto’s 24-hour bottom and peak were $195.39 and $207.59, respectively. The coin currently mirrors the broader cryptocurrency market trend, showcasing volatility.

Meme Crypto Prices Today

Dogecoin (DOGE) price fell by nearly 2% in the past 24 hours and is trading at $0.26. Shiba Inu (SHIB) price followed, waning 0.5% to $0.00001586. However, it’s worth mentioning that the TRUMP coin defied the trend and jumped nearly 5% to reach $18.57.

Top Crypto Gainer Prices Today

FTX Token (FTT)

Price: $2.13
24-Hour Gains: +8%

Monero (XMR)

Price: $232.91
24-Hour Gains: +4%

Ethereum Name Service (ENS)

Price: $27.71
24-Hour Gains: +4%

Top Crypto Loser Prices Today

Pudgy Penguins (PENGU)

Price: $0.01178
24-Hour Loss: -13%

Raydium (RAY)

Price: $5.48
24-Hour Loss: -9%

Ethena (ENA)

Price: $0.5438
24-Hour Loss: -8%

Simultaneously, in light of the current turbulent performance, renowned crypto market analyst Ali Martinez revealed that the signs of the Altcoins season commencing haven’t prevailed in the market yet. According to him, “Capital continues to flow out of BTC & ETH into stablecoins,” negtively impacting market dynamics.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.