Dogecoin (DOGE) Price Drops 10% This Week After Strong Run

Dogecoin (CRYPTO: DOGE) took a hit this week, dropping from recent highs above $0.25 to lows of about $0.21.

Traders saw a brief bounce attempt above the $0.23 zone on May 17-18, but that did not last.

As of Thursday, DOGE was trading at around $0.21, marking a weekly loss of around 10%. Investors were scanning the bigger picture to see if any long-term signals suggested a renewed uptrend.

Analyst Remains Bullish

According to technical analyst Javon Marks, a key trendline gave way in late 2023. That line had capped Dogecoin since its 2023 highs of $0.70, and the break brought in higher highs and higher lows.

A fresh low near $0.15 has held so far this year. Based on that view, he kept his price target of $0.65, which would mean a 200% gain from Thursday’s levels. Marks also mentioned $0.74 and $1.25 as possible future milestones.

"We're still looking for that breakout point to come above the 0.25 zone with some strong volume to carry it through. A breakout above the 0.26 zone with daily candle close is needed to open up the possibility of a move to 0.3 and beyond."

Resistance Levels Key to Watch

According to market watcher Ali Martinez, the $0.25-$0.26 range remained a major barrier to watch. That zone worked as support in December 2024 but flipped to resistance in early 2025.

Since then, the meme coin had tested the major resistance on several occasions but failed to break through.

In February, it bounced back from lows of below $0.15 and rallied to highs of $0.28 before reversing.

A March rally saw a move above the $0.19 level but stopped short. The most recent rally peaked at $0.24 on May 11 before closing the session at $0.22.

"A decisive close above the 0.26 zone is needed to signal new momentum and break out of the current trading range."

On-Chain Activity Shows Uptick

According to latest data, wallet activity on the Dogecoin network has seen a sharp increase.

New addresses grew by over 100% in the last seven days while active addresses climbed by 110%.

Even zero-balance addresses rose by 155%, which often hints at fresh participation or address cleanup.

Higher on-chain counts don’t always mean a price rise but do show more users are logging transactions again.

Dogecoin Chain Activity Statistics:

7d % change Metric Last 7 Days Active addresses +110% 162,488

New addresses +104% 233,438

On-chain transactions count +66% 1,187,998

Total coins burned (DOGE) — 0

Average transaction value (DOGE) -13% 1,007

Median transaction value (DOGE) -13% 344

Non-zero balance addresses +155% 77,418

Zero balance addresses +155% 154,836

DeFi protocol count — 0

Last price (coingecko) -9% 0.216

Fully diluted valuation (coingecko) — 272,140,462,335

Coin market cap -9% 16,030,804,840

Total volume (coingecko) -17% 1,441,441,661

Dominance (%) -1% 0.6

Relative volume (7d) +168% 1.0

7d price change % -10% 0.214

YTD price change % -45% 0.214

1y price change % -51% 0.214

Stretch Targets Face Huge Hurdles

Dogecoin’s long-term goals may sound bullish, but getting there will not be easy.

A move to the $0.6533 zone or higher would likely require first holding above the $0.26 flip level and then breaking the $0.28 zone with real volume behind it.

Also, any big price gains could quickly lead to