Dogecoin Plummets 8.5% To 20 Cents: Is It Over For DOGE?

Dogecoin DOGE/USDis down 8.5% to $0.20, largely mirroring Bitcoin's BTC/USD pullback, but historical patterns suggest a potential rebound may be on the way.

What Happened: Crypto analyst Kevin, a leading Dogecoin commentator on X, discussed the meme coin's price action in a Feb. 22 podcast.

He noted that DOGE has historically experienced sharp rallies followed by deep retracements, typically ranging between 50% and 65%.

Looking back at the previous bull cycle, DOGE saw a 56% pullback, followed by 57% and 53% dips, before ultimately surging to its all-time high of $0.48.

In the current cycle, DOGE has already undergone a 58% correction, a pattern that aligns with its past movements.

Kevin reassured traders that despite the pullback, the broader market has performed well given the turbulent macroeconomic environment.

He emphasized that DOGE's fate is closely tied to Bitcoin's BTC/USD price action, meaning further BTC weakness could weigh on the meme coin.

In an X post on Feb 25, Kevin reminded traders of his earlier prediction: if DOGE failed to reclaim $0.28, a drop to $0.20-$0.19 was likely—an outlook that has now played out.

Crypto chart analyst Ali Martinez warned that if DOGE breaks below $0.19, the probability of a much deeper correction to $0.06 increases.

If #Dogecoin $DOGE drops below $0.19, the probability of a deeper correction toward $0.060 significantly increases! pic.twitter.com/6OLjt66X0B

— Ali (@ali_charts) February 25, 2025

Also Read: Dogecoin’s Journey From Memecoin To ‘Real’ Money ‘Crazy But Cool,’ Says Elon Musk: ‘I Am Living The Meme’

What's Next: Kevin believes that an end to quantitative tightening by July could ease inflation concerns and set the stage for interest rate cuts—factors that might reignite an altcoin rally.

He suggests that a shift in U.S. monetary policy or renewed confidence in crypto markets could improve sentiment around DOGE.

If DOGE manages to reclaim $0.30, it could open the door for a push toward $0.48, in line with previous cycles.

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