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The Dogecoin price jumped 12% in the last 24 hours to trade at $0.1504 as of 3:48 a.m. EST, with trading volumes surging 35% to $3 billion.
This rise in the DOGE price comes as China vows to “fight to the end,” refusing to bow to what they called “blackmail” from the United States in the form of retaliatory tariffs by President Donald Trump.
The rebuke came after Trump threatened to ratchet tariffs on US imports from the world’s No. 2 economy to more than 100% on Wednesday.
💥 Trump warns of a 50% tariff on Chinese imports starting April 9 if China keeps its 34% retaliatory tariffs.
A full-blown trade war could erupt with a combined 104% tariff, hitting the #USA hard ⚡#China vows to “fight to the end.” Markets on edge. Predict on PredX🪼 pic.twitter.com/zBLoxTH9fA
— PredX.ai (@PredX_AI) April 8, 2025
“The US side’s threat to escalate tariffs against China is a mistake on top of a mistake, once again exposing the American side’s blackmailing nature,” China’s commerce ministry said. “If the US insists on having its way, China will fight to the end.”
Will the trade war result in a market decline? How will this affect the price of Dogecoin?
Dogecoin Price Aims For A Breakout
The daily chart shows that the DOGE price is navigating a classic falling wedge pattern, which is a bullish formation.
This wedge has guided the Dogecoin price action downward since late January 2025, as GeckoTerminal data shows.
Meanwhile, the falling wedge began forming after a dramatic spike and a subsequent fake breakout, which failed to sustain higher highs and reverted into the wedge pattern.
Key pivot points labeled A through D mark significant support and resistance touches within the wedge, with the price of DOGE action now hovering near the wedge’s lower boundary.
The recent candles suggest a potential breakout attempt, with DOGE attempting to push beyond the wedge’s upper trendline.
Moreover, the 50-day Simple Moving Average (SMA) is at $0.1885, and the 200-day SMA is at $0.2568. Currently, DOGE trades below both, which signals that the asset is still in a broader bearish phase.
The Relative Strength Index (RSI) stands at 36.89, which places the Dogecoin price in the lower zone of the RSI scale, approaching oversold territory.
DOGE Price Prediction: Bullish Breakout Signals A 70% Surge
The projected move could be substantial if the DOGE price confirms a breakout above the wedge resistance and maintains upward momentum.
Based on the wedge’s possible bullish trend reversal, a target of approximately $0.2568 is a 70.79% increase from the current level of $0.1504. This aligns closely with the 200-day SMA, which could act as a critical resistance level and the first major profit-taking zone.
However, if the Dogecoin price maintains its bearish trend within the wedge, the $0.112 could act as a cushion against downward pressure.
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Don't miss out! 👉 https://t.co/eMjBsXbv1H pic.twitter.com/p3E6BvxnDS
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Those interested in joining the project’s presale should buy BEST before a price hike in under 35 hours.
Learn more about BEST on its official website.
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