Dogecoin targets $0.73: Can DOGE repeat its 2023 rally?

• DOGE has been surprisingly strong since Q4, staying resilient amid a market-wide downturn.
• But this isn’t just a short-term memecoin play. There’s a deeper story unfolding.

Two weeks into 2025 and the market’s been volatile. Bitcoin [BTC] is bouncing up and down, but Dogecoin [DOGE] is trending bullish, holding above $0.30.

With whale buying picking up, RSI cooling down, and the BTC/DOGE pair turning green, analysts are eyeing a potential repeat of the 2023 Q4 rally.

Could this be the moment DOGE finally breaks free from its slump?

All the way to a new ATH?

Dogecoin has shown surprising strength since Q4. While Bitcoin and other major coins struggled after the first Fed clash, DOGE managed to hold steady between $0.30 and $0.40 for an entire week.

In the past four days, DOGE has posted gains of over 2% each day. It’s no wonder 87% of the community is feeling bullish about Dogecoin’s future.

But this isn’t just about jumping on memecoins for short-term gains in a volatile market. There’s a deeper story here. DOGE’s chart is following a similar pattern to last year.

After a rally in October 2023 and a pump in December, there was a drop, then a flat phase with a brief spike in January 2024—exactly what we’re witnessing now.

Source: TradingViewBack then, that January spike triggered a massive 144% rally by March, with DOGE closing at $0.22. If history repeats itself, we could be looking at DOGE reaching $0.73 by the end of Q1.

But will the odds favor DOGE?

Right now, Dogecoin is picking up steam across multiple metrics. Futures and spot trading have seen a rise, with Open Interest (OI) climbing 13.48% and staying strong at around $4 billion.

This is just shy of the $4.45 billion peak when DOGE surged to $0.48.

Source: Coinglass

Big players are swooping in during market dips, keeping the price from falling too far. All signs point to $0.30 as a potential floor for DOGE. In fact, the RSI sitting at 51 mirrors last year’s breakout levels.

But there’s a bigger picture to consider. The DOGE/BTC pair is critical here. In mid-February last year, Dogecoin began to post higher highs, just as Bitcoin neared its $73K ATH and market conditions began to overheat.

Read Dogecoin’s [DOGE] Price Prediction 2025-26

For DOGE to repeat this cycle, holding $0.30 is more important than ever. It could serve as a psychological anchor, keeping investor confidence strong when the market gets tough for altcoins and BTC.

The next few days will reveal more. 2025 could be the year of diversification, and DOGE may already be positioning itself for it.

With both on-chain and off-chain factors in Dogecoin’s favor, a repeat of the 2023 cycle seems increasingly likely. However, consistent monitoring of these indicators will be key to staying on track.