Dogecoin is starting to show signs of life after weeks of sideways trading in a tight range between $0.16 and $0.18. Meme coins have suffered heavily amid broader market uncertainty and ongoing selling pressure, with bulls struggling to reclaim key resistance levels. However, momentum appears to be building. Related Reading: Dogecoin Bollinger Bands Tighten On 12H Chart Hinting At Imminent Price Move – Insights Over the last 24 hours, Dogecoin managed to break above the $0.18 mark for the first time in days, sparking excitement among traders. While bulls have yet to sustain a push higher, the breakout could be an early sign of a trend reversal. Investors are watching closely to see if DOGE can establish a foothold above current levels and begin a meaningful recovery. Top analyst Carl Runefelt shared technical insights on X, noting that DOGE is breaking out of a bullish falling wedge pattern on the daily chart—a formation often associated with strong upside moves. If the breakout holds, Dogecoin could be poised for a significant rally in the short term. However, bulls must reclaim higher resistance levels soon to keep the momentum going. All eyes are now on DOGE as it attempts to lead a potential meme coin recovery. Bulls Attempt To Reclaim Momentum Dogecoin is hovering at a critical juncture as it trades just above crucial demand levels near $0.15. Despite a challenging environment for meme coins—typically the hardest hit during market downturns—DOGE has managed to hold its ground, suggesting resilience from long-term holders. Still, bulls have a lot of work to do if they want to reclaim control and initiate a sustained recovery. After weeks of consolidation, Dogecoin is showing early signs of a potential reversal. The broader market is searching for a catalyst, with analysts and investors watching closely for any signals that could push crypto assets into a recovery phase or trigger further declines. Market participants are growing increasingly anxious, especially given the speculative nature of meme coins and their historical volatility during bear cycles. Runefelt’s technical insights reveal that Dogecoin has broken out of a falling wedge pattern on the daily timeframe. This is a bullish formation that often precedes sharp upward moves. According to Runefelt, if DOGE holds above the wedge breakout zone, it could rally toward the $0.43 mark—its next major resistance level. This week could prove pivotal for Dogecoin and the broader market. If bulls manage to build on recent strength and push above key resistance levels, DOGE could lead a new wave of meme coin momentum. Related Reading: Bitcoin Futures Data Shows Bullish Long/Short Ratio – Details Dogecoin Price Faces Key Test Around $0.185 Dogecoin is trading at $0.185 after several days of sideways consolidation, struggling to push decisively above this level. While the recent breakout from a falling wedge pattern has created a more optimistic outlook, bulls now face the challenge of turning resistance into support. The $0.18 level has emerged as a critical pivot point, and holding above it is essential to maintain upward momentum. For DOGE to confirm a true recovery rally, bulls must reclaim the $0.22 level in the coming sessions. A push above this zone would mark a clear shift in trend and open the door for a test of higher resistance near $0.25 and beyond. However, the path forward is not without risk. If Dogecoin fails to hold $0.18 as support, selling pressure could intensify, sending the price back toward the $0.15 zone—an area that previously acted as a major demand floor. Related Reading: Ondo Finance Eyes Breakout As Price Tests $0.89 Channel Resistance – Analyst With meme coins typically more sensitive to broader market sentiment, Dogecoin’s next move will likely mirror the overall direction of crypto. A strong Bitcoin rally could help lift DOGE, but without it, bulls must show strength quickly to avoid a deeper retracement. Featured image from Dall-E, chart from TradingView
Dogecoin is currently consolidating within a tight range, trading below the $0.18 mark and holding support above $0.16. Meme coins have faced significant selling pressure and uncertainty, struggling to gain momentum as the broader crypto market remains volatile. Bulls must reclaim crucial resistance levels to confirm a recovery and prevent further downside. Related Reading: XRP Bulls Face A Big Test – Metrics Show $2.40 As The Most Critical Resistance Level Despite the market downturn, there are signs that DOGE may be on the verge of a breakout. Top analyst Carl Runefelt shared insights on X, revealing that Dogecoin is forming a bullish pattern that could break out at any moment, leading to a massive rally. According to Runefelt, the pattern resembles a classic accumulation setup, hinting at a potential surge in price if key resistance levels are breached. With market sentiment shifting and on-chain data showing renewed interest in DOGE, traders are closely watching for signs of a breakout. If Dogecoin manages to reclaim higher price levels, it could signal the start of a strong uptrend for the meme coin. However, failure to hold its current support zone may result in further downside. The coming days will be crucial in determining whether DOGE bulls can take control and push prices higher. Dogecoin Falling Wedge Signals a Potential Breakout Dogecoin has experienced a sharp decline, now trading 70% below its December high. The selling pressure continues as meme coins remain some of the hardest-hit assets in the crypto market. Speculation and fear have driven prices lower, and DOGE bulls have a long road ahead if they want to reclaim higher levels. Bitcoin’s downtrend since late January has added to the bearish sentiment, leading investors to believe that the bull cycle may be coming to an end. If this is true, meme coins like DOGE will likely face the most volatility and selling pressure in the coming months. However, not all analysts are convinced that Dogecoin’s downtrend will persist. Runefelt’s insights reveal a technical analysis that suggests DOGE is forming a falling wedge pattern—a historically bullish setup. According to Runefelt, once DOGE breaks out of this formation, it could experience a significant rally. His price target for the breakout sits at $0.434, representing a massive upside from current levels. If Dogecoin manages to hold key support and break above resistance, a recovery rally could follow. However, if selling pressure continues and DOGE fails to reclaim higher levels, further declines may be inevitable. The next few weeks will be critical in determining the meme coin’s direction. Related Reading: On-Chain Data Signals Key Test For Solana At $135 Level – Insights Breakout Above $0.20 Or Drop Below $0.15? Dogecoin is currently trading at $0.17 after days of sideways trading, struggling to break above the $0.18 resistance level. The meme coin has been caught in a tight consolidation range as bulls attempt to regain control, but broader market uncertainty continues to weigh on price action. To confirm a recovery, DOGE must push above the $0.20 mark, which serves as a key psychological and technical resistance. Reclaiming this level could trigger a breakout toward higher supply zones, potentially fueling a rally toward $0.25 and beyond. However, for this to happen, Dogecoin needs a surge in buying momentum and increased market confidence. Related Reading: Ethereum Is Retesting A 5-Year Long Trendline – Massive Rally Incoming? On the downside, if DOGE fails to reclaim $0.20 in the coming days, selling pressure could increase, leading to a decline below $0.15. A drop below this level would indicate further weakness, potentially sending DOGE to retest lower supports around $0.12. Bulls must step in soon to prevent a deeper correction. Featured image from Dall-E, chart from TradingView