Dogecoin Finds Support, Signals 409% Surge With $4 Target

▲ Dogecoin (DOGE)

Dogecoin, which has successfully staged a strong rebound from a long-term accumulation zone, has secured key support levels and is signaling the beginning of a full-fledged rally toward the $1 milestone.

According to cryptocurrency-focused media outlet NewsBTC on February 16 (local time), Dogecoin (DOGE) recently surged about 46.94% from a critical accumulation zone, drawing significant market attention. Crypto analyst Crypto Patel noted that Dogecoin rebounded from a strong support and accumulation area around $0.0375, halting its downtrend and regaining upward momentum. In particular, the recent 8.57% jump in a single day to around $0.113 is being interpreted as a decisive signal of a trend reversal.

While Patel advised short-term investors to consider taking profits at the current elevated price levels, he suggested that long-term investors use any pullback from $0.113 to the $0.06–$0.08 range as a gradual accumulation opportunity. According to the analysis, Dogecoin’s next target price is $1. If the uptrend continues, it is considered to have the potential to reach $2 and even $4. The accumulation zone marked in green represents a strong support base maintained over several years and served as the key area behind two major previous breakouts.

Technical indicators such as Fibonacci extensions and price projections also support the possibility of further gains for Dogecoin. One chart target points to $0.567, representing an increase of approximately 409% from current levels, while continued bullish momentum could potentially drive the price beyond $2 and up to $4. However, volatility is increasing, with the price falling more than 11% in the past 24 hours and retreating to around $0.10, prompting caution among investors.

Experts have identified $0.056 as the invalidation level where the uptrend could break down. If Dogecoin falls below this point, which lies beneath the accumulation zone, there is a risk that the previous downtrend may resume. In particular, if the weekly close forms below $0.06, the long-term bullish structure could weaken, making the defense of this support level a crucial factor in determining future price direction.

Dogecoin is currently trading around the $0.10 level, appearing to pause for breath. After months of decline, the market is closely watching whether this rebound will go beyond a simple technical bounce and serve as a catalyst for ushering in the $1 era. Investors are advised to respond cautiously, focusing less on short-term volatility and more on whether key support levels hold.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from its use. The information provided should be interpreted solely for informational purposes.*