Dogecoin (DOGE) Price Will See Medium-Term Weakness, Analyst Farid Saremi Warns

TradingView analyst Farid Saremi is spotting weakness for Dogecoin in the mid-term and isn’t expecting to see any major gains anytime soon.

Dogecoin’s recent price action has seen a shift in sentiment as the asset pulls back from early May highs. After briefly touching levels above $0.18 at the start of the month, the coin reversed course, dipping below the $0.175 support line by May 3.

This decline continued into May 6, with the price reaching a local low just above $0.165. As of press time, Dogecoin is trading near $0.1734, showing a minor 3% recovery over the past 24 hours.

However, this rebound has done little to resolve the growing uncertainty around its broader trend. As analysts assess the coin’s macro positioning, conflicting interpretations have emerged.

Macro Resistance Zones

Farid Saremi, a TradingView analyst, has been examining a 3-hour chart of DOGE/USDT to identify broader-level patterns. His analysis is pivoting on key equilibrium zones that are being defined by two main resistance points—December 2024 and January 2025.

In December, Dogecoin reached just under $0.50, while in January it peaked lower, at around $0.43. After these highs, the price declined to be contained within a consolidation band between $0.18 and $0.21. This range now forms the main equilibrium zone.

Crucially, the price has slipped below this area, signaling a breakdown in buyers’ strength. According to Saremi, Dogecoin is not yet ready for major growth in the mid-term, and price action is expected to gravitate toward the middle zone.

Lower Structural Supports

Following the loss of the main equilibrium zone, Saremi identifies two additional levels to watch. The first is located at $0.10894, which corresponds to price consolidation from January 2025. This area will act as intermediate support and may become the new balance zone if the price continues downward.

Spanning a broader structure, a deeper level near $0.07478 is identified as the final downside target. This level is based on historical price clustering from the October–November 2024 period, forming a lower structure.

Saremi adds that external factors, such as actions by large holders or market news, may affect the timing of these moves, but they will not invalidate the projected levels.

“We may be delayed in reaching the target, but the targets will be touched,” explains the analyst.

Another View: Falling Wedge

In a contrasting analysis, Trader Tardigrade is examining Dogecoin’s performance against the total crypto market with a 3-day chart of DOGE/Total.

#Dogecoin/#Total signals an identical Falling Wedge 🔥

It seems ready to break out.A previous surge in $Doge/ $Total resulted in a 300% gain for $Doge. pic.twitter.com/9nEgq2wOGz— Trader Tardigrade (@TATrader_Alan) May 7, 2025

His analysis highlights a recurring pattern of falling wedges. The first wedge, which formed during mid-2024, is shown to have fully played out in a sharp breakout, propelling Dogecoin from around $0.10 to $0.46—a 300% rally.

After the rally, the asset underwent a correction phase, forming another wedge from February to May 2025. This second wedge exhibits a similar structure with narrowing price ranges and compressing volume.

The analyst points out this tightening pattern, which signals accumulation and the potential for an upcoming breakout. He notes the technical similarity between the two wedges, implying that the current structure may precede another major move.

If the 300% rise were to repeat, then Dogecoin could reach $0.6936 from its current price.