Key Notes
- DOGE beneficial properties 5% in 24 hours, buying and selling close to $0.18.
- Market cap jumps by $2.2 billion in two days to hit $26.88 billion.
- The each day chart reveals a bullish falling wedge sample since early February.
Dogecoin
DOGE
$0.18
24h volatility:
5.1%
Market cap:
$27.07 B
Vol. 24h:
$1.05 B
has jumped practically 5% up to now 24 hours to commerce round $0.18. The memecoin’s current surge has added over $2.2 billion to its market capitalization in simply two days, now sitting at $26.88 billion.
The rally comes amid the broader crypto market uplift following the US Federal Reserve’s resolution to maintain rates of interest unchanged.
Analysts on X have famous that DOGE witnessed a 114% climb from peak to peak in its final two main strikes. With its native excessive sitting at $0.46 again in December 2024, some bulls now speculate a possible 500% breakout that might ship the token to $1.
DOGE Value Outlook
DOGE reputation has lately seen an increase in its reputation because of DOGE ETF filings by asset managers reminiscent of 21Shares and Osprey Funds.
On the daily chart, Dogecoin seems to have fashioned a falling wedge sample since early February. The breakout appears to be occurring close to $0.18, and on condition that the wedge’s widest level spans the $0.35 to $0.40 vary, this might venture a goal between $0.53 and $0.58.
The MACD on the 4-hour chart helps the bullish case. It has simply flipped constructive, with the MACD line crossing above the sign line. A transparent uptick in histogram bars additional confirms the bullish bias.
DOGE value chart with MACD | Supply: TradingView
In the meantime, the RSI at the moment sits round 62, approaching overbought territory. Whereas this displays sturdy shopping for stress, short-term merchants needs to be cautious, as overheated rallies result in corrections.
DOGE value chart with RSI and Bollinger Bands | Supply: TradingView
Bollinger Bands present DOGE value breaking above the higher band, suggesting potential overextension. If the worth holds sustainably above the band with rising quantity, it might sign power. Nonetheless, a re-entry into the bands might lead to a short-term retracement.
Related articles
In the meantime, common crypto analyst Ali Martinez lately famous a trendline on the DOGE weekly value chart since November 2023. He predicts a possible rebound to $0.30, given the meme coin dips to $0.14.
This trendline has supported #Dogecoin $DOGE since October 2024. A dip to $0.14 might current a shopping for alternative forward of a possible rebound to $0.30.
Be part of me on this commerce by signing as much as @coinexcom utilizing my referral hyperlink https://t.co/73n8mW9Y5p pic.twitter.com/lD9kr4BJOL
— Ali (@ali_charts) May 7, 2025
Merchants might see some resistance round $0.20, adopted by $0.23 after which the December excessive at $0.46.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm data by yourself and seek the advice of with an expert earlier than making any choices primarily based on this content material.
A crypto journalist with over 5 years of expertise within the business, Parth has labored with main media retailers within the crypto and finance world, gathering expertise and experience within the house after surviving bear and bull markets over time. Parth can be an writer of 4 self-published books.
