The Dogecoin price has delivered a remarkable rally since November 4th, surging an astonishing 170% over just 10 days with no significant correction in sight. After touching a high of $0.4385—its strongest level since May 2021—the cryptocurrency was trading just under $0.40 at the time of writing. This rapid ascent has sparked widespread debate among investors: Should you buy Dogecoin now, or wait for a potential pullback?
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A Closer Look at Dogecoin’s Recent Surge
Dogecoin (DOGE) has defied the broader crypto market trend, where many altcoins have already experienced corrections of 20–25%. While Bitcoin and other major digital assets have seen volatility, DOGE has continued its upward trajectory, drawing attention from both retail and technical traders.
This momentum has been fueled by growing speculation around increased adoption, meme-driven hype, and potential catalysts such as upcoming developments in the broader crypto ecosystem. However, not all analysts are convinced that this rally is sustainable in the short term.
Analyst Warns of Imminent Correction
Kevin (@Kev_Capital_TA), a respected crypto technical analyst with a growing following on X (formerly Twitter), has been closely monitoring Dogecoin’s price action. Known for his data-driven approach, Kevin recently shared insights suggesting that while the long-term outlook remains positive, a near-term correction is highly likely.
Kevin revealed he has already begun taking profits from his Dogecoin holdings. “I sold an additional 3% of my Dogecoin bag at $0.39,” he stated. “That makes for a total of 8% of my entire DOGE bag sold. I have 92% of my bag remaining.”
He outlined a strategic profit-taking plan tied to key price milestones:
- Next target: Previous all-time highs
- Secondary target: $1.00
- Goal: Sell 25% of total holdings by the time DOGE reaches $1, then reassess
“This is about risk management and locking in gains,” Kevin explained. “Even in strong bull markets, smart investors scale out gradually.”
Why a Pullback Could Be Inevitable
Despite the bullish momentum, Kevin warns that an inevitable market correction could shake out weaker holders. “The correction that is inevitably coming is going to melt so many weak hands away; it’s gonna be wild to see,” he cautioned.
His analysis focuses on a critical technical indicator: the Relative Strength Index (RSI). The daily RSI for Dogecoin recently spiked to 94—a level historically associated with overbought conditions and often preceding sharp price reversals.
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“A daily RSI of 94 is extremely stretched,” Kevin noted. “Based off history and the current technicals, it still heavily supports a correction to cool off indicators before heading higher.”
He also highlighted that Dogecoin has not yet undergone the correction seen in other altcoins. “Basically all altcoins are getting the correction I called for besides Dogecoin,” he said. “That makes DOGE an outlier—and potentially vulnerable.”
Predicting the Next Move: $0.26–$0.28 Target
Kevin forecasts a short-term dip in Dogecoin’s price, with a likely retest of the $0.26–$0.28 range before resuming its upward trend. “I think Dogecoin will go back to $0.26–$0.28 and then reload to come back up and break ATHs,” he stated.
Such a pullback would align with historical patterns during previous bull runs, where sharp rallies were followed by consolidation phases that allowed technical indicators to reset.
Even if Bitcoin surges to $94,000–$95,000 in the near term—potentially dragging DOGE higher—Kevin believes a deeper correction is still on the horizon. “If BTC taps $94K–$95K in the short term, it will drag DOGE higher, but I still think we get a bigger correction before heading higher.”
Long-Term Outlook Remains Bullish
Despite short-term caution, Kevin maintains a positive long-term view on Dogecoin. He points to the monthly RSI, which currently sits at 74—a level firmly within bull market territory.
“The Monthly RSI tops out in DOGE bull markets anywhere from 88–98,” he noted. “We got a long way to go, folks.”
This suggests that while a near-term cooldown is likely, the broader uptrend may still have significant room to run over the coming months.
Avoiding Hype and Unrealistic Predictions
Kevin also issued a strong warning against influencers promoting unrealistic price targets for Dogecoin. “If your Twitter #Crypto Guru is telling you #Dogecoin is going to $28, I urge you to unfollow them,” he said bluntly.
He emphasized that such claims are often clickbait designed to attract attention rather than provide value. “Ask them what the market cap would be at that price level and see how they react,” he suggested. “They don’t care about you; they want you as exit liquidity.”
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Frequently Asked Questions (FAQ)
Q: Should I buy Dogecoin at $0.40?
A: At current levels, Dogecoin appears overbought based on technical indicators like the RSI. While the long-term trend may still be bullish, many analysts suggest waiting for a pullback to stronger support levels like $0.26–$0.28 before entering new positions.
Q: Is a Dogecoin correction likely?
A: Yes, according to technical analysis, a correction is probable. Most altcoins have already corrected by 20–25%, but Dogecoin has not—making it vulnerable to a sharper drop to align with broader market trends.
Q: What is the significance of RSI in crypto trading?
A: The Relative Strength Index (RSI) measures price momentum and helps identify overbought or oversold conditions. An RSI above 70 typically signals overbought territory, increasing the likelihood of a price reversal.
Q: How much of his Dogecoin did Kevin sell?
A: Kevin disclosed selling 8% of his total Dogecoin holdings so far, including a recent 3% sale at $0.39. He plans to sell up to 25% of his position by the time DOGE reaches $1.
Q: Can Dogecoin reach $1?
A: While possible in a strong bull market, reaching $1 would require massive adoption and sustained demand. At current prices, such a move would represent more than a 150% increase from $0.40 and would push DOGE’s market cap into rarefied territory.
Q: Why hasn’t Dogecoin corrected like other altcoins?
A: The exact reason isn’t clear, but it may be due to strong retail interest, social media hype, or coordinated buying pressure. However, markets tend to correct eventually—even delayed corrections can be more severe when they occur.
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While emotions run high during explosive rallies, disciplined trading based on technical indicators and risk management remains crucial. Whether you're considering buying Dogecoin now or waiting for a dip, understanding key metrics like RSI and historical price behavior can help inform smarter decisions in volatile markets.