![\"Dogecoin](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/03\/Gm-fAeGXcAAAHLF.jpg?w=860&resize=860%2C579\")
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The analyst further identified <\/a>the key support floor for the Dogecoin price at $0.177, which will be crucial in determining whether the token can sustain its recovery or if it will face another downtrend.<\/p>\n Should Dogecoin fail to hold this support level, it could revisit once again the $0.14 price point, where significant buying pressure previously helped support the price. This scenario could erase the gains made over the last two weeks.<\/p>\n Adding weight to Martinez’s analysis, data from Glassnode reveals that 7% of Dogecoin’s total supply is concentrated at the $0.20 mark, which is the third-largest concentration after $0.17 and $0.07.\u00a0<\/p>\n According <\/a>to Glassnode, this concentration suggests that the $0.20 level may act as a formidable resistance point in the near term, as many wallets likely acquired their holdings at lower prices.<\/p>\n In a more positive note for the token and despite the current uncertainties surrounding Dogecoin’s price, analysts remain optimistic about the memecoin’s long-term prospects.\u00a0<\/p>\n According to experts like AMCrypto, Dogecoin has recently tested a multi-year support trendline, indicating <\/a>a potential for sustained upward movement. “Memes are slowly moving up now, and I expect DOGE to lead the rally,” one analyst stated, setting a target of $0.50 in the second quarter of the year.<\/p>\nEyeing $0.50 And Potential All-Time High Of $1.60<\/h2>\n