Analyst Insists Dogecoin Could See a 174% Climb to Its First Target of $0.6533

Analyst Javon Marks maintained his bullish outlook on Dogecoin, citing a confirmed breakout and a sustained bullish price structure.

Dogecoin has experienced notable pressure in recent days after pumping hard in the past weeks. Its price has now dipped from $0.25 to $0.21. The token has made modest recovery attempts, including a brief move above $0.23 around May 17–18. 

However, as of today, DOGE is trading at the $0.21 range, with a massive 12% weekly loss. While this short-term volatility has drawn attention, analysts remain focused on long-term technical developments that may suggest broader market shifts.

Dogecoin to $0.6533?

For instance, analyst Javon Marks has reiterated his April 22 target for Dogecoin, based on a multi-year trend reversal. According to a previous chart shared by Javon Marks, Dogecoin completed a breakout above a multi-year descending resistance in late 2023.

This trendline had been intact since the meme coin’s peak near $0.70. The breakout followed a prolonged pattern of lower highs and lower lows, signaling a structural change. Since then, Dogecoin has maintained a series of higher highs and higher lows, often considered a key bullish indicator.

Supporting this view, a recent retracement found support at approximately $0.16, forming a new higher low. This development adds weight to the emerging bullish structure. 

Based on this pattern, Marks has maintained a price projection of $0.6533, representing a 200.79% increase from the current level of $0.2172. The analyst’s additional targets include Dogecoin’s potential run to its former all-time high of $0.74 and $1.25111.

$DOGE and a +174% climb to its first target at $0.6533 continues to be in the cards 🃏… https://t.co/7Jt82s0jLy

— JAVON⚡️MARKS (@JavonTM1) May 18, 2025

$0.26 Resistance Zone Remains a Technical Barrier

Meanwhile, market analyst Ali Martinez emphasized the significance of the $0.25 to $0.26 resistance area on the 3-day timeframe. Since late 2024, this zone has repeatedly acted as a ceiling for Dogecoin’s price action.

After serving as support in December 2024, the region flipped into resistance in early 2025. Since then, Dogecoin has failed multiple breakout attempts.

In February 2025, the price touched $0.28 but quickly reversed below $0.15. Another push in March saw the price exceed $0.19, yet it again fell short of breaking through. The most recent test in May 2025 saw DOGE hit $0.24, only to close at $0.2276, underscoring continued selling pressure.

According to Martinez, a sustained move above this zone would be significant, though he urged caution and preparation before such a breakout occurs.

Renewed Network Engagement

While technical resistance remains, on-chain data from IntoTheBlock indicates increasing activity on the Dogecoin network. Key usage metrics have surged over the past seven days, suggesting heightened user engagement. New addresses rose by 102.40%, while active addresses increased by 111.32%. 

Additionally, zero balance addresses, often seen as indicators of network turnover or recent activity, climbed by 155.38%.

This rise in activity comes amid the broader market rally, indicating that Dogecoin’s user base is becoming active again amid recent improvements.