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The Calm Before The Storm: Why The Dogecoin Price Is Preparing For Another Explosion Above $0.4
Crypto analyst Crypto Paradise has raised the possibility of the Dogecoin price recording another explosive rally above the psychological $0.4 level. The analyst highlighted a bullish pattern, which proves that the foremost meme coin could witness this parabolic move.
Why The Dogecoin Price Could Soon Rally Above $0.4
In a TradingView post, Crypto Paradise predicted that the Dogecoin price could soon rally above $0.4 and explained why this parabolic move was on the horizon. The analyst revealed that DOGE is currently forming a descending channel pattern, and things are starting to look “interesting” for the foremost meme coin.
He further remarked that the Dogecoin price had printed a bullish engulfing candle right on the supportive trendline, backed by bullish divergence and a key support zone. Crypto Paradise noted that these are all strong signals that a bullish move could be on the horizon for the foremost meme coin.
Crypto Paradise also asserted that the Dogecoin price is likely to bounce from the strong support zone if it witnesses further panic selling or a deeper retracement. However, to confirm this potential move to the upside, the analyst remarked that the market needs to witness a “bullish I-CHoCH,” a W pattern, or an inverse head and shoulders forming on the lower timeframes before considering a bullish move.
Meanwhile, on the flip side, the crypto analyst mentioned that this bullish outlook for the Dogecoin price could get invalidated if DOGE closes a candle below the strong support zone. If that plays out, he advised that it is best to step back and wait for a better price action to develop rather than forcing a trade.
Two Potential Scenarios For DOGE
In an X post, crypto analyst Master Kenobi outlined two potential scenarios for the Dogecoin price and its future trajectory. First, he stated that DOGE could repeat last year’s pattern, with a peak reached by the end of February. For the second scenario, the analyst stated that the foremost meme coin could repeat the August phase, where a pump follows an extended consolidation, with DOGE reaching its peak in April or May.
The crypto analyst remarked that he is leaning towards the second scenario. Considering the August phase, he noted that the Dogecoin price recorded a 6x price increase following a violent drop. Measuring a 6x move from DOGE’s current local bottom, Master Kenobi predicts that Dogecoin could rally to as high as $1.25 before its price peaks in mid-April or May.
The analyst also raised the possibility of a premature bear market scenario. However, he dismissed this as he opined that it isn’t wise to entertain such a possibility just yet considering that this is 2025.
At the time of writing, the Dogecoin price has been trading at around $0.26, which is up over 1% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com
The rising tide of stablecoin adoption has prompted a significant response from traditional financial institutions. Global banks and fintechs are launching their own stablecoins, capitalizing on the increasing adoption and favorable regulatory environment.
Joining an established list of payment providers like Standard Chartered, PayPal, and Revolut, Bank of America (BoE) is considering launching its stablecoin. This growing trend among financial institutions aims to disrupt the dominance of major players like Tether and Circle.
Banks and Fintechs Capitalize on Stablecoin Growth
According to Financial Times, top banks and fintechs are racing to introduce their own stablecoins to secure a foothold in the rapidly evolving cross-border payments space. The favorable regulatory environment and growing adoption of stablecoins add momentum to the development.
Notably, the regulatory recognition that stablecoins can play a legitimate role in the financial system has boosted enthusiasm. This, in turn, has influenced financial institutions to leverage the capabilities of these assets.
This regulatory shift, following President Donald Trump’s election victory in 2024, has been driven by his pro-crypto stance. Likening this increasing demand for stablecoins to the gold rush, where people made more money selling shovels to miners than actually mining for gold, Simon Taylor, co-founder of fintech consultancy 11: FS, stated,
It’s about people selling shovels in the stablecoin gold rush. The other thing that’s driven it is there’s real volume. Founders want to get a piece of it because they know they’re going to get stablecoin regulation and so it’s all of those things coming together.
Stablecoin Frenzy: Big Players Enter the Fray
Large players like Bank of America, PayPal, Standard Chartered, Stripe, and Revolut have expressed their interests in adopting stablecoins. Stripe co-founder John Collison stated, “Stablecoins and the more modern chains are really interesting for the payments use case, and that makes up our business.”
Recently, Bank of America announced its potential plans to launch its own stable asset upon receiving regulatory approval. CEO Brian Moynihan stated, ““If they make that legal, we will go into that business.”
Last month, Standard Chartered revealed its plans to develop a Hong Kong dollar-backed token, adhering to the new stablecoin regulatory policies in the territory.
Similarly, PayPal intends to expand its stablecoin payment option, PYUSD, in 2025, anticipating significant adoption among US businesses making international supplier payments. According to Visa data, stablecoin transactions on PayPal totaled $163 million this month, a fraction of Tether’s $131 billion.
US Department of Housing and Urban Development Experiments with Stablecoins
In a recent development, the US Department of Housing and Urban Development is planning to integrate blockchain technology and adopt stablecoins. According to a ProPublica report, the department is considering blockchain-based solutions for grant tracking and stablecoin payments, with pilot testing proposed for one of its offices.
Notably, the team believes that the current experiment signals the adoption of crypto and blockchain across the federal government.
US Regulatory Landscape Boosts Crypto Adoption
President Donald Trump’s crypto-focused policies have generated significant optimism. This marks a substantial shift in the US government’s stance on digital assets. Trump’s administration is introducing new policies aimed at establishing stablecoins.
Recently, Trump announced plans to adopt Bitcoin, XRP, SOL, and ADA as US crypto reserve assets, signaling a commitment to integrating digital assets into the country’s financial ecosystem. This move was followed by an executive order establishing a Strategic Bitcoin Reserve.
These developments underscore the government’s progressive stance on cryptocurrencies. It focuses on fostering innovation, investment, and integration into the traditional financial system. The Trump administration’s policies aim to position the United States as a leader in the global digital asset economy.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
Cryptocurrency exchange giant Binance again captured noteworthy investor attention as it unveiled a key announcement on six cryptos this Monday. The crypto exchange revealed that the collateral ratio for CELO, IOTX, LRC, ALICE, AUDIO, & ICX tokens under the portfolio margin will be updated shortly ahead. As a response, market watchers speculate over the update’s impact on prices as the new offerings provide less market value.
Binance Reduces Collateral Ratio For 6 Crypto Tokens
In an official Binance announcement dated March 10, the crypto exchange revealed that it will reduce the collateral ratio for six tokens under the margin portfolio starting March 14 at 06:00 UTC. As per the announcement, this update will be completed in just an hour.
Here Are The Updated Collateral Ratio For 6 Crypto:
CELO
- The collateral ratio is to be reduced from 80% to 70%.
IoTeX (IOTX)
- Binance revealed that IOTX collateral ratio is to be reduced from 80% to 70%.
Loopring (LRC)
- Loopring collateral ratio is to be reduced from 80% to 65%, per the update.
MyNeighborAlice (ALICE)
- ALICE’s collateral ratio is to be reduced from 80% to 65%.
Audius (AUDIO)
- The collateral ratio is to be reduced from 70% to 55%.
ICON (ICX)
- ICX collateral ratio is to be reduced from 70% to 55%.
For context, a decline in this ratio signals reduced collateral value, thereby limiting the borrowing capacity of these tokens. As a result, these assets could see a decline in investor interaction and trading volumes due to reduced offerings on one of the top crypto exchanges.
What’s More?
Binance added that the collateral ratio will affect ‘Unified Maintenance Margin Ratio (uniMMR)’ as well. Platform users should monitor the update closely to mitigate any losses potentially resulting from the abovementioned change.
How Are These 6 Tokens Performing?
CELO price plunged over 6% intraday and closed in at $0.3440. The coin’s intraday bottom and peak were $0.3295 and $0.3682, respectively.
IOTX price dropped over 2% intraday and exchanged hands at $0.01540. The coin hit a low and a high of $0.01491 and $0.0159 over the past day.
LRC price slipped nearly 1% as of press time and traded at $0.01053. The coin bottomed and peaked at $0.09879 and $0.1073 in the past 24 hours.
ALICE price also followed the waning action in tandem with Binance’s announcement, falling 7% to $0.5194. MyNeighborAlice hit a low and high of $0.4999 and $0.5601 intraday.
Nevertheless, AUDIO price was up by a remarkable 35% and rested at $0.1071. The coin bottomed at $0.07742 in the past 24 hours.
Lastly, ICX price lost 6% value and closed in at $0.09933. Its intraday low and high were $0.0961 and $0.1066, respectively.
It’s noteworthy that the broader slumping action also falls in line with the broader crypto market trend today. Besides, the leading exchange’s reduced offerings added to market concerns surrounding the aforementioned tokens’ future performances.
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.
Amid the broader crypto market correction, the Dogecoin price has also tanked over 9% today testing its crucial support levels at $0.16. However, on-chain activity suggests that the positive momentum for DOGE could resume soon amid a 270% surge in active addresses over the last 24 hours. Also, the DOGE whale activity has surged, indicating big players are buying the dips, thereby hinting a potential rebound moving ahead.
Dogecoin Price Rebound Ahead?
Crypto analyst Ali Martinez has highlighted a critical support level for DOGE as it approaches the lower boundary of its current price channel. According to Martinez, maintaining a position above $0.16 is essential for the cryptocurrency to sustain momentum and potentially fuel a strong rebound.
As of press time, the Dogecoin price is trading 9.29% down at $0.1726 with its daily trading volume surging 115% to more than $2.01 billion. Also, the open interest has tanked 12.91% to $1.45 billion while the 24-hour liquidations have shot to $21 million, per the Coinglass data.
Previously, analyst Ali Martinez stated that if bulls manage to hold above the DOGE support levels of $0.16, it can trigger a rally toward $2.74 or even as high as $6.24.
DOGE Active Addresses and Whale Activity
Despite the Dogecoin price heading lower amid broader crypto market correction, market analysts are bullish amid strong on-chain developments. In a significant development for DOGE, the number of active addresses on the network has skyrocketed by 270% in just 24 hours, increasing from 71,750 to 264,000.
On the other hand, the largest whales on the Dogecoin network have reportedly accumulated 1.7 billion DOGE over the past 72 hours. This massive accumulation suggests that major players could be positioned for the next big move, underscoring growing activity and interest in the meme coin. Additionally, the Dogecoin wallet addresses have reached an all-time high, hinting further momentum ahead.
Key Demand Zones for DOGE
Pseudonymous analyst “TheGift94” has outlined potential demand zones where DOGE might stabilize amidst intense selling pressure. In a recent TradingView analysis, the analyst identified three “buying demand zones” critical to the meme coin’s price movement. The first support zone, at $0.20, was breached as Dogecoin’s price fell by 13% yesterday, closing at $0.1678.
The analyst further highlighted two additional zones that could act as support levels: $0.16 and $0.13. These levels are now being closely monitored as potential turning points for the meme coin.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
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