Should You Buy the Dip on Dogecoin? Key Technical Setup Signals Big Move Ahead

Updated on Mar 28, 2025 at 6:22 pm UTC by · 3 mins read

Dogecoin (DOGE) has lost the mild rebound momentum it gained earlier this week, slipping back into a downward trend.

Dogecoin (DOGE) has lost the mild rebound momentum it gained earlier this week, slipping back into a downward trend.

The latest price drop coincides with another wave of bearish consolidation across the broader crypto market, dragging sentiment lower.

At the time of writing, DOGE is trading at $0.1808 – down more than 6% over the past 24 hours.

With this pullback, the focus now shifts to whether investors will view this as a buying opportunity – or a signal to stay cautious as market uncertainty lingers.

Technical Trends Signals Big Dogecoin Price Breakout

The ongoing selloff in the DOGE market is further bolstered by the 5.37% drop in trading volume to $1.48 billion.

Despite this gloomy outlook, Dogecoin displays a unique resilience that might help trigger a rebound.

With a Relative Strength Index (RSI) of 45, the intense selloff is no longer at play.

Source: TradingView

According to the daily chart, Dogecoin fell sharply from a high of $0.422 on January 18 to a low of $0.154 on March 11.

Since then, the price has entered a period of consolidation, trading sideways in a narrow range. Despite this cooling-off phase, the broader trend suggests DOGE has broken out of its previous descending triangle pattern.

After flipping the $0.176 resistance on March 23, broader market volatility has kept the meme coin in check – but momentum may be building.

Analyst Trader Tardigrade weighed in with a bullish outlook, noting that if Dogecoin can maintain support at $0.178, it could be poised to post a new Higher High (HH).

He highlighted two critical levels to monitor: $0.178 and $0.164.

With this setup, investors looking to buy the dip should keep an eye out for decisive moves. If DOGE holds above $0.18 into the weekend close, a breakout could be the next step.

Meme Index as Dogecoin Rival to Watch

As Dogecoin leads the meme coin space, Meme Index ($MEMEX) is rising as a smarter, diversified alternative.

Built on Ethereum, Meme Index offers exposure to the top meme coins via four dynamic indexes: Titan, Moonshot, Midcap, and Frenzy.

With just one token, $MEMEX holders can diversify across the meme coin market and enjoy governance rights and access to early-stage tokens.

Currently in presale, $MEMEX is available at discounted rates with staking rewards of up to 538%.

Many analysts anticipate a sharp price surge once $MEMEX becomes available on major exchanges, thanks to its strong fundamentals and growing investor interest.

To purchase $MEMEX, visit the official Meme Index website and connect your wallet (such as Best Wallet).

You can swap ETH or USDT for the token, or use a bank card to complete your investment with ease.

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