Dogecoin Price Prediction – DOGE Eyes $0.17 Amid NASDAQ-Driven Rebound

Highlights:

• Dogecoin is in a rebound intra-day and is targeting the $0.17 resistance
• Rally driven by a Nasdaq rebound, which now has a strong correlation to crypto
• Investors cautious despite rebound amid macroeconomic headwinds

After the Black Monday sell-off, Dogecoin experienced a subtle rebound. It is now trading at $0.15, an increase of 8%. Even with the positive note in pricing, the trading volume increased only by 1.59% to 2.58 billion. The low rise in volume indicates that investor confidence is low, and few are looking to reenter the market. 

Investor Appetite for Dogecoin Low

Market analysts believe the overall economic picture is one of the biggest reasons for the ongoing investor restraint. The American President added fuel to the macro-economic uncertainty by saying he could add a new 50% tariff on Chinese imports.

BREAKING 🚨 Donald J Trump shocks the world by saying he will add an additional 50% Tariff to China if they don’t take back their additional Tariff

This is what a True Leader looks like

HOLD THE LINE 🇺🇸 pic.twitter.com/lE703yhlVu

— MAGA Voice (@MAGAVoice) April 7, 2025

That’s if China’s counter of 34% tariff on US goods is not lifted. China’s refusal to give in raises concerns about an intensifying trade war, which would further disturb the already fragile world market. As such, investors are avoiding digital currencies, including Dogecoin.

Dogecoin Price Could Crash By a Further 50%

Over the weekend, Dogecoin dropped more than 22%. Based on the ongoing bearish scenario, analysts warn that bearish trends might trigger a staggering 59% retracement. From a Dogecoin price chart’s perspective, the breach of a critical ascending parallel channel that has supported its price since 2018 is worrying.

This breakdown is interpreted as a growing sign of bearish price action. If another broader market selloff comes, the focus would shift towards the 0.618 Fibonacci retracement area, which is priced approximately at 0.06167. 

Whale Activity Points to Further Weakness for Dogecoin

Adding to the uncertainties, a whale recently sent DOGE worth approximately 41.7 dollars to the Binance exchange. This could mean that whales are preparing to exit Dogecoin and expect another round of selloffs. Such whale activity could also trigger retail money to exit out of fear, worsening a bad situation. 

🐶💥 Massive #Dogecoin Whale Dump!

300M DOGE (~$41M) sent to Binance amid the market crash.

DOGE down 15% — could it fall below $0.10? 👀#DOGE #CryptoNews pic.twitter.com/ta42pwyO6R

— The DOGE-O (@The_DOGE_O) April 7, 2025

Dogecoin Defi Liquidity Weakens – A Bearish Signal

Beyond price action, Dogecoin’s fundamentals are also showing fragile signs. The total value of assets used in Dogecoin-based decentralized finance (DeFi) protocols has fallen, indicating a lack of confidence in the ecosystem.

As provided by DefiLlama, as of Monday, March 11, Dogecoin’s TVL had reached a record low of 2.72 million, making it zero value since 23. This translates to a massive decrease in the price of the meme coin.

DOGE’s at $0.13, -15.65%—meme magic’s fading fast! Tariff dread and $1B liquidations kill the vibe, no Musk tweet to save it. $0.10 looms—hodl or fold? $DOGE #DOGE #MarketCrash #Crypto #Altcoin #Trading @dogecoin pic.twitter.com/XPTszWAErF

— Altcoin Action (@atcoinaction) April 7, 2025

The decline in TVL directly results from the market-wide sell-off associated with the crash on Black Monday. The slump in Dogecoin reflects the contraction of the broader DeFi market. SoSo Value Indexes, the Dogecoin-focused DeFi index, has reported an over 26.37% decline in the last month. Following BoringDAO and Thorchain, which declined 24.04% and 20.16%, respectively.

Sentiment Turns Bearish for Dogecoin On Online Platforms

Market analysts are looking at social metrics, where the trend has become increasingly negative. Online forums that used to support Dogecoin have retreated to a wait-and-see stance when a clearer direction is needed. Without a strong change in the macroeconomic conditions or a technical breakout, Dogecoin may continue grappling with headwinds in the upcoming weeks.

Technical Analysis – Dogecoin Price Eyes Resistance as Bulls Take Control

Dogecoin appears to be gaining bullish momentum in the day. This aligns with the broader market rising, given a boost by the rising NASDAQ. 

If bulls sustain momentum, the key level to watch would be the $0.169 resistance. On the other hand, if bears regain control, Dogecoin could drop back to the $0.149 support in the short term.

With global economic pressures pushing capital to safer assets, the short-term outlook for Dogecoin seems cloudy. Analysts note that Dogecoin could drop below $0.10 if macro uncertainties grow. However, with the NASDAQ rebounding intra-day, cryptocurrencies could also see a pump. This could push DOGE to $0.17.