Dogecoin Plummets 20% Weekly, $100 Target Unlikely
2min read Dogecoin's price plummeted below the $0.14 mark on April 8, experiencing a 20% loss on the weekly timeframe. Despite this downturn, bull traders remain optimistic that the next rebound phase could drive DOGE to new all-time highs. With potential catalysts such as Trump’s crypto strategic reserve and inflows expected from altcoin ETFs under review, the question arises: is $100 a realistic price target for Dogecoin?
Amid the global market crash, Dogecoin continues to attract significant interest. As the largest memecoin by market capitalization, DOGE has a large global community that remains one of the most active in the crypto space. As crypto markets tumbled to new weekly lows at $0.14, bulls continue to weigh prospects of a parabolic Dogecoin price rally to all-time highs above $100. However, a realistic look at Dogecoin’s circulating supply and basic market math raises significant doubts about the $100 DOGE price forecast.
According to data, Dogecoin has a circulating supply of over 148 billion tokens. At $100, Dogecoin would command a $10 trillion market cap. Even if the total supply were capped at 100 billion, reaching $100 per token would require a $10 trillion market capitalization. That’s nearly five times the current market cap of apple, the world’s most valuable company, and more than Apple, nvidia, and microsoft stocks combined. By comparison, Bitcoin’s total supply is 21 million coins, and it has yet to sustainably break above a $1.5 trillion valuation. A $10 trillion valuation for DOGE would also exceed the global M2 money supply of many major economies, making the price target mathematically improbable under current economic conditions.
As of April 8, Dogecoin is trading near $0.19, down roughly 10% from its monthly high of $0.21. However, the technical Dogecoin price forecast charts suggest Dogecoin may face difficulty breaking above the $0.25 resistance in the short term. Unless a major catalyst—such as DOGE integration or another influential tweet—emerges, upside potential appears capped within this range, while the $100 prediction remains a distant target. Dogecoin is currently consolidating near $0.14, significantly below its early April high of $0.21, with a clear lack of bullish conviction. The chart illustrates a textbook falling wedge pattern—typically bullish—but Dogecoin has yet to confirm a breakout, casting doubt on the rally potential without external catalysts.
The Relative Strength Index (RSI) sits at 32.57, signaling oversold conditions, but critically remains below the neutral 50 mark. This suggests weak momentum despite the technical setup for a reversal. A true bullish breakout would require RSI to reclaim 50 alongside volume expansion, which currently sits at a muted level. Volume spikes, such as the one seen in early February, previously failed to sustain bullish momentum. The recent drop over four days reflects a bearish retest of support rather than a breakout retest, further confirming market hesitation. The VWAP is now slightly above price, indicating that DOGE is trading under average weighted value—an additional bearish cue. A confirmed wedge breakout could target $0.4247, but until DOGE closes above $0.25 with volume confirmation, the bearish bias dominates. In this Dogecoin price forecast, traders should brace for extended consolidation or deeper pullback without news-driven volatility to drive upside momentum.
Dogecoin’s historical surges have mostly been sentiment-driven. However, sustained growth at institutional levels requires real-world use cases. Currently, DOGE is accepted by a few merchants and tipping platforms, but lacks the smart contract functionality of Ethereum or the enterprise appeal of XRP. That said, the coin’s fast transaction speed and low fees could support a case for micro-payments or retail adoption in emerging economies. Still, utility at scale must be proven before even a $1 price target becomes tenable.
While fundamentals and market cap calculations limit extreme targets, Dogecoin remains one of the few cryptocurrencies with consistent global support. The community has funded projects like lunar missions and charity initiatives, giving it a unique cultural relevance. Elon Musk’s influence has also periodically pumped its price, though those moves tend to be short-lived. For DOGE price to enter meaningful gains in the near-term, the broader financial market must recover from the turbulence surrounding the US trade war.
