Dogecoin and Price Rise Forecast: Will DOGE Reach 1 USD?

Dogecoin started March with a strong fall and although there was a moment of recovery, this coin is still facing significant selling pressure. Currently, Dogecoin is trading around 0.17 USD after reaching the 0.20 USD mark midweek. Weekly RSI Suggests a Strong Rally Despite the price of DOGE facing difficulties, an important technical indicator is sending out positive signals. According to cryptocurrency analyst Trader Tardigrade on the X platform, the RSI indicator on the weekly timeframe of Dogecoin is showing an unusual but promising sign. The RSI indicator ( Relative Strength Index ) is a tool for measuring the momentum of an asset, helping to identify overbought or oversold areas. Over the past several months, the RSI of Dogecoin has continuously fallen, but is currently forming a pattern that has previously appeared before strong rallies in this cycle. Trader Tardigrade believes that: "The weekly RSI indicator shows strong recovery potential from the current price level. Dogecoin may reach 1 USD in the near future." Technical Analysis: Dogi and Inverted Hammer Candlestick Patterns This forecast is not only based on the RSI but is also reinforced by the candlestick patterns on the weekly chart. Over the past two weeks, Dogecoin has created two important patterns: Dogi Candle: Represents market indecision, often appearing before strong reversal trends. Inverted Hammer (: Is a potential signal for recovery after a prolonged downtrend. History shows that whenever DOGE forms this pattern along with a falling RSI, its price has surged. October 2023: DOGE increased from 0.07 USD to 0.22 USD in March 2024. September 2024: Before rising from 0.10 USD to 0.48 USD in December 2024.

Currently, Dogecoin is trading at 0.17 USD, setting up a similar pattern. If history repeats itself, the price may continue to rise sharply and reach the 1 USD mark. Potential Script for Dogecoin Positive case: If DOGE holds the level of 0.17 USD and buying pressure increases, the price could recover strongly in April. Negative case: If it cannot maintain this support level, DOGE risks falling deeper below 0.17 USD, extinguishing hopes for short-term growth. With a market capitalization of 25 billion USD, Dogecoin remains one of the most popular cryptocurrencies. However, investors should monitor technical signals and market trends to make accurate decisions.