Shiba Inu Whales in Profit: 130 Trillion SHIB May Signal Imminent Breakout
Shiba Inu is again heating the crypto charts, as fresh on-chain data reveals that over 130 trillion SHIB tokens are now in profit. With a total value of around $1.76 billion, this massive sum represents a pivotal moment for the meme coin as traders anticipate a sharp price movement in the coming days. According to insights from IntoTheBlock, the tokens currently “in the money” could influence the next leg of SHIB’s trajectory. Investors may either cash out, prompting a pullback, or double down, driving even more momentum. SHIB Climbs Higher Amid Meme Coin Surge At the time of writing, Shiba Inu has climbed 1.39% in the past 24 hours, trading at $0.00001344. It has logged three consecutive gains days since March 22, pushing its weekly increase to 7%. Today’s trading session peaked at $0.0000137, where some early profit-taking emerged. Looking ahead, traders should closely monitor the price’s interaction with the EMA 20. A clear break and sustained move above it could open the door to a run toward the daily 50-day SMA at $0.00001415. If momentum continues, the $0.00001915 and $0.000029 zones may come into play. On the flip side, a dip below $0.00001312 could trigger a retest of deeper support near the 200 EMA. Market Optimism Fuels Meme Coin Momentum The broader crypto market remains optimistic due to the Federal Reserve’s recent signals of upcoming rate cuts. Meme coins are known for reacting quickly to shifts in sentiment, and SHIB has naturally benefited from this renewed interest in risk assets. Retail traders, always searching for high-risk, high-reward opportunities, have piled into meme coins like SHIB. These tokens respond quickly to sentiment shifts and offer rapid gains due to their low entry points and viral appeal. Related article: Shiba Inu Burns 14 Million Tokens in 24 Hours as SHIB OS Sparks New Blockchain Hype What’s Next for SHIB? As SHIB tests resistance and investors weigh their next move, the token remains in a high-stakes position. With over 130 trillion tokens sitting in profit, any shift in sentiment—positive or negative—could trigger sharp price action. Whether SHIB continues its breakout or cools off temporarily, one thing is clear: Meme coin mania is far from over, and SHIB remains at the center of it.
Dogecoin Rally on the Horizon? Analysts Predict a Surge to $0.60 as Whales Accumulate
According to market analysts who are closely monitoring Dogecoin’s (DOGE) performance, it could be gearing up for a major price surge. On Wednesday, March 19, TradingView Idea crypto analyst Whalesdesk highlighted a bullish setup for Dogecoin. He pointed to a strong support zone between $0.16 and $0.17 and a pennant formation on the weekly candlestick chart. If DOGE maintains this support and breaks out from the pennant pattern, it could ignite a rally toward $0.30, $0.45, and eventually $0.60. With Dogecoin currently trading at $0.1715, these price targets represent significant upside potential of 75%, 160%, and 250%, respectively. Mixed Analyst Predictions: Will DOGE Dip Before a Breakout? Whalesdesk is not alone in predicting an upward move for Dogecoin. Another respected analyst, MMBTrader, also suggested that a rebound could be on the way. However, unlike Whalesdesk, MMBTrader believes DOGE might dip first before recovering. He identified support levels around $0.13834 and $0.09081 on the daily chart. Additionally, he cautioned that the meme coin may encounter resistance at crucial psychological price points, particularly around $0.30 and $0.40. Whales Accumulate Millions in DOGE as Network Activity Soars Recent on-chain data further supports the bullish case for Dogecoin. Whale investors have been aggressively accumulating DOGE, signaling growing confidence in the asset. Notable whale purchases in recent weeks include: At the same time, Dogecoin’s network activity is skyrocketing. The number of active addresses surged by 76%, climbing from 160,000 last week to over 280,000 this week. This increase in whale accumulation and network engagement suggests a rising demand for DOGE. If this momentum continues, Dogecoin could be poised for an explosive breakout in the coming weeks. Related article: Dogecoin at $0.1661: Will a 30% Rebound Take It Past $0.22? Will Dogecoin Hit $0.60? The coming weeks will be crucial for Dogecoin’s price action. If the support holds and a breakout occurs, DOGE could be on track for massive gains. However, traders must monitor potential resistance zones and short-term pullbacks. With whales actively buying and network activity spiking, Dogecoin’s bullish momentum continues to build. Will the meme coin reach $0.60, or will resistance slow it down? The market will soon reveal the answer.
Dogecoin at $0.1661: Will a 30% Rebound Take It Past $0.22?
Dogecoin has been on a sharp decline, losing 70% of its value since peaking at $0.48 in December 2024. While some investors have sold in fear, large holders, or whales, have chosen a different path. Instead of exiting, they have doubled down and increased their holdings. CinemaBoy reports that wallets holding at least one million DOGE have risen by 1.24% since early February. This accumulation happened exactly as prices fell, suggesting that whales see an opportunity rather than a reason to panic. The last time they moved like this, Dogecoin skyrocketed by more than 200% in November 2024. Could history repeat itself? Whale Accumulation Signals a Possible Dogecoin Rebound Onchain data from Santiment indicates that Dogecoin’s network activity is heating up. Active addresses have reached a four-month high, a sign of growing interest. When more wallets engage with a cryptocurrency, trading volume often follows. Increased activity could mean retail investors are stepping in, or it could mean long-term holders are buying the dip. The last major accumulation phase led to a massive rally, and this time, the conditions look similar. If history serves as a guide, Dogecoin could be preparing for another major price move. However, technical indicators will determine whether this is a genuine reversal or another false breakout. Technical Indicators Suggest a 30% Rally Could Be Ahead Dogecoin is currently sitting on a critical support level near $0.13, which aligns with a multi-year trendline. The 200-week exponential moving average also supports this level, adding to its strength. A bullish crossover on the Stochastic RSI further reinforces the possibility of an upward move. If Dogecoin can break through $0.22, it could gain momentum and rally another 30%. Momentum traders often step in when a price clears key resistance levels, adding further buying pressure. The setup suggests a possible surge, but risks remain. If DOGE falls below support, the price could drop to $0.12 before finding new buyers. What Happens If Dogecoin Fails to Hold Support? A 70% decline has already tested investor patience, but a further drop could shake confidence even more. If Dogecoin breaks below its support zone, it could enter a deeper downtrend. In that scenario, traders might look for the next support near $0.12. Failing to hold that level could trigger even lower price targets. Dogecoin’s history shows extreme price swings, making it difficult to predict the next move with certainty. While whales seem confident in a recovery, the broader crypto market sentiment will also play a role. If Bitcoin and Ethereum continue their uptrend, Dogecoin could follow. However, if the overall market weakens, Dogecoin might struggle to gain traction. Dogecoin’s Future: A Make-or-Break Moment Dogecoin’s price has tumbled 52.8% over the past three months, yet whales remain confident. Their increased accumulation suggests they see value at current levels. The rise in network activity supports this view, indicating renewed interest in the token. For a sustained recovery, Dogecoin must hold above $0.13 and break past $0.22. If it succeeds, a 30% rally could unfold, pushing the price toward higher resistance levels. On the other hand, if support fails, Dogecoin could see more downside before finding a new floor. Read Also: Shibarium Hits 10M Blocks! Will SHIB’s Price Rebound from a 4.29% Drop? Investors watching Dogecoin must decide whether this is an opportunity or another temporary bounce. Whales have placed their bets, but is this the beginning of a new rally or just another short-term fakeout? Time will tell, but for now, all eyes remain on Dogecoin’s next move.
Analyst Predicts Dogecoin’s Parabolic Surge as Stoch RSI Signals Bullish Crossover: Here’s Why
Prominent market analyst Ali Martinez predicts that Dogecoin (DOGE) could experience a powerful rebound as its Stochastic Relative Strength Index (Stoch RSI) prepares for a bullish crossover. Dogecoin has recorded two consecutive daily gains for the first time since March 2. The meme coin rebounded 22% from a low of $0.1427 on Tuesday to a high of $0.1742 yesterday, reflecting a broader market recovery. This resurgence follows speculations that Donald Trump is open to resolving the tariff war with Canada. Dogecoin Poised for a Strong Rally DOGE’s latest rebound has helped it recover earlier losses this week while forming a dragonfly doji on the daily chart. This price action aligns with a bullish crossover on the Stoch RSI, a key momentum indicator. Market analyst Ali Martinez highlighted this bullish signal, emphasizing its potential impact on Dogecoin’s price. In a tweet on Wednesday, Martinez suggested that DOGE could be on the verge of a parabolic rally, citing historical data on the Stoch RSI’s influence. Historical Trends Suggest a Massive Price Increase Martinez pointed out that previous Stoch RSI crossovers on the weekly timeframe have led to significant price increases for Dogecoin. In October 2023, the Stoch RSI flipped bullish, triggering an 88% surge from $0.0569 to $0.1075. A similar situation occurred in February 2024 when another bullish crossover led to a 187% increase, with DOGE climbing from $0.0793 to $0.2290. The most notable rally happened in September 2024, when Dogecoin skyrocketed 444% from $0.0890 to $0.4846, marking its highest point in the current bull cycle. Now, Martinez identifies that DOGE’s weekly Stoch RSI is on the verge of another bullish crossover. If this scenario materializes, he predicts a strong upward trajectory. Interestingly, each of the last three crossovers has produced larger price gains than the previous one. If this pattern continues, Dogecoin could rally by at least 444%, surpassing its all-time high and potentially reaching $0.914. Read more: Dogecoin Struggles at $0.2101: Will It Hold or Crash Below $0.17594? Higher Prices Could Follow the Rebound In the short term, Dogecoin continues to show bullish momentum. On Tuesday, the TD Sequential indicator hinted at a bullish reversal, pushing DOGE above the critical $0.16 support level. Analysts believe this move could set the stage for a breakout toward $2. If Dogecoin maintains this trend, it could push even higher. Some projections suggest that DOGE could reach $8.5 when the third wave of its Elliott Wave pattern kicks in. Currently, Dogecoin trades at $0.1715, with its RSI at 37.63, close to the oversold territory. With technical indicators aligning, the meme coin could be gearing up for another explosive move in the coming weeks.
Dogecoin Struggles at $0.2101: Will It Hold or Crash Below $0.17594?
Dogecoin (DOGE), once a thriving meme coin, now struggles as network activity drops by 95%. This drastic decline has raised concerns among investors. Many wonder whether DOGE can survive or if its best days are behind it. The recent downturn reflects not only fewer active users but also declining trust in its future. Dogecoin Price Battles Crucial Support Levels Dogecoin currently trades around $0.2101, trying to hold its ground. Analysts identify $0.17594 as a key support level. If the price falls below this point, a further decline may follow. Conversely, resistance levels at $0.27155 and $0.31413 could help push the price higher. However, unless strong buying pressure emerges, breaking these barriers may prove difficult. The Relative Strength Index (RSI) indicates ongoing selling pressure. Without increased demand, DOGE might struggle to gain upward momentum. Investors remain cautious, waiting for a clear signal before making moves. Falling Transactions Threaten Dogecoin’s Viability A major concern is the sharp decline in Dogecoin’s daily transactions. Since late 2024, the number of active users has plummeted. This drop suggests reduced interest in using DOGE for everyday transactions. If this trend continues, liquidity concerns could weaken the coin’s stability. Cryptocurrencies thrive on widespread adoption and transaction volume. A decrease in network usage raises red flags about Dogecoin’s long-term viability. Unless new developments revive user interest, the coin may face further challenges. MVRV Ratio Drops, Signaling Possible Sell-Offs The Market Value to Realized Value (MVRV) Ratio for Dogecoin has fallen to 40.63%. This shift suggests that investors may sell their holdings to secure profits before further declines occur. If this downward movement persists, additional sell-offs could push DOGE’s price even lower. Market sentiment plays a vital role in price stability. A weakening MVRV ratio signals potential investor concerns. Without renewed confidence, downward pressure on the price may persist in the short term. Investor Sentiment Reaches a Historic Low Negative sentiment dominates the Dogecoin market, with weighted sentiment plunging to -0.999971. This record low reflects deep pessimism among investors. Many now doubt the coin’s ability to recover amid decreasing transactions and declining price action. This shift in sentiment makes attracting new investors increasingly difficult. Without fresh optimism, Dogecoin risks falling into a prolonged bearish cycle. Restoring confidence will require strong market catalysts, such as increased adoption or positive news from influential figures. Does Dogecoin Have a Path to Recovery? Despite its struggles, Dogecoin has survived previous downturns. A strong market catalyst, such as major adoption or a technological upgrade, could spark a turnaround. However, without clear signs of renewed demand, the outlook remains uncertain. Some investors believe meme coin hype could return, but relying on speculation alone remains risky. Dogecoin’s future depends on whether developers and the community introduce changes that encourage long-term utility. Until then, market uncertainty will likely persist. Should Investors Buy or Sell DOGE Now? Dogecoin remains at a critical juncture. If it holds above $0.17594, a rebound could follow. However, if the price continues declining, new lows could emerge, creating potential buying opportunities for long-term investors. Market participants should closely monitor key resistance and support levels. Sentiment and transaction volume must improve for Dogecoin to regain upward momentum. Until then, investors should exercise caution and assess risks carefully before making decisions. Read Also: Dogecoin Plunges Below $0.22 – Is a 12% Rebound Possible? In conclusion, Dogecoin’s recent decline highlights the volatility of the crypto market. With network activity down 95% and sentiment at historic lows, DOGE faces a tough road ahead. A significant catalyst could trigger a recovery, but for now, investors remain uncertain.
Dogecoin Plunges Below $0.22 – Is a 12% Rebound Possible?
Dogecoin (DOGE) has seen dramatic price swings, leaving traders uncertain about its next move. After breaking out from a symmetrical triangle pattern, DOGE failed to sustain momentum and dropped to $0.2123. This decline has sparked concerns about market stability and the token’s future. A Breakout That Backfired Dogecoin seemed ready for a rally, but reality struck hard. The breakout from its symmetrical triangle, which ranged between $0.236 and $0.224, initially suggested a bullish run targeting $0.197. However, momentum faded quickly, and key indicators confirmed a bearish reversal. The failed breakout left traders questioning the token’s next move. Bearish Indicators Signal More Trouble The charts reveal a troubling picture for DOGE. Fibonacci retracement levels show that the token struggled to stay above the crucial 61.8% retracement level at $0.218, signaling strong selling pressure. The MACD line crossing below the signal line reinforced the bearish outlook, hinting at further losses. The Cumulative Volume Delta (CVD) surged to -7.64B, indicating intense selling pressure that solidified the downtrend. Are Traders Losing Confidence? Market sentiment plays a crucial role in price movements, and DOGE’s trading activity suggests growing uncertainty. Over the past 24 hours, DOGE saw outflows of -3.1M, meaning more traders are selling than buying. The drop below $0.22 coincided with this surge in selling, signaling reduced confidence in a near-term recovery. If this trend continues, DOGE may struggle to regain lost ground. Market Stability or Further Decline? DOGE’s 4-hour chart reveals a sharp decline in volatility. The Volatility Index fell to 0.23155, suggesting traders are adopting a wait-and-see approach. With DOGE stabilizing around $0.2123, it remains unclear whether the token will consolidate before rebounding or face another downturn. If volatility remains low, the price may continue hovering at current levels before traders make their next move. What’s Next for DOGE? Dogecoin faces an uphill battle as bearish signals persist. Declining netflows, reduced volatility, and strong selling pressure suggest a possible test of the $0.20 support level. Broader market trends, particularly in the meme coin sector, will influence whether DOGE recovers or dips further. If buyers step in, DOGE might see a short-term rebound, but sustained growth remains uncertain. Read Also: Dogecoin (DOGE) Faces 5% Drop: Will It Plummet Below $0.20? Dogecoin’s price action presents both risks and opportunities. Risk-tolerant investors may see this dip as a buying opportunity before a potential rebound. However, cautious traders may prefer to wait for confirmation of a trend reversal. Observing key support and resistance levels will be crucial in determining DOGE’s next move.
Dogecoin (DOGE) Faces 5% Drop: Will It Plummet Below $0.20?
Dogecoin faces challenging times as its price nears $0.2307. The coin dropped over 5% in one day. Investors watch the market with caution. Many traders fear further declines below the $0.20 mark. Today we explore market trends and future possibilities for DOGE. We examine technical signals, network activity, and historical patterns. Our goal is to help you make informed decisions. Market Overview Dogecoin now trades near $0.2307. This price drop shocked many crypto fans. The market shows clear signs of bearish pressure. Price declines worry investors and traders alike. Market sentiment shifts as traders prepare for possible falls. Some analysts predict the coin may drop below $0.20. The environment grows risky amid global uncertainties. Investors respond cautiously as trends evolve. They follow global markets and crypto news closely. Every movement matters in this volatile arena. Technical Analysis: Clear Warning Signs Technical analysis gives clear warnings about DOGE. Analysts identify a potential death cross on the daily chart. They see the 50-day EMA decline sharply. The 200-day EMA stays above the falling average. This setup signals an ongoing bearish trend. Traders observe the MACD for further hints. The MACD shows weak bullish momentum now. Small histogram bars appear on the chart. These signals indicate a likely period of consolidation. Experts believe the coin may struggle to recover soon. Network Activity: Fading Engagement Network activity now shows a concerning decline. Recent data reveals lower user engagement. Fewer than 60,000 addresses interact with DOGE each day. Large-scale transactions have dropped to only 66 daily. These figures worry many market observers. The drop in activity suggests waning investor interest. Big players, known as whales, now trade less frequently. This reduced participation weakens market confidence further. The network slowdown increases overall market risks. Investors now question the coin’s long-term appeal. Historical Patterns: Lessons from the Past Dogecoin has experienced dramatic rallies in the past. In Q4 2023, the coin surged nearly 90%. Later, a breakout drove a 208% increase. In Q4 2024, DOGE jumped 445% toward $0.50. These events inspire hope among many investors. However, past success does not guarantee future gains. The market now faces very different challenges. Investors compare historical rallies with current struggles. They weigh potential rebounds against ongoing bearish signals. History offers lessons, but it does not predict tomorrow. Future Outlook: What Lies Ahead? The future of DOGE remains uncertain. Many investors worry about further price drops. Experts predict additional pressure may force the coin below $0.20. Traders monitor market signals and adjust their strategies. They hope for a breakout that could reverse the trend. Some believe a fourth wedge pattern might trigger a strong rally. This rally could push DOGE toward the $1 level. Nevertheless, the market now feels very vulnerable. Cautious optimism guides many crypto enthusiasts. They await clear signs of recovery with keen interest. Investment Strategy: How to Navigate the Volatility Investors can adopt various strategies to navigate DOGE’s volatility. They must analyze market data and set clear goals. Some traders choose to hold their positions for long-term gains. Others use technical analysis to time their entries and exits. Risk management remains crucial during turbulent market phases. Investors should always set stop-loss orders to protect their capital. It is wise to diversify investments in uncertain markets. Educated decisions can improve outcomes in volatile times. Research and planning help reduce risks significantly. Ultimately, a sound strategy benefits every investor. Read Also: Dogecoin Drops Below $0.30 After $25.4M Whale Transfer – What’s Next? In conclusion, Dogecoin faces technical and network challenges. Its price recently fell over 5% in one day. Many indicators warn of further declines below $0.20. Investors have seen dramatic rallies in past years. However, current trends show a bearish market. We encourage you to stay informed and review your strategies.
Dogecoin Drops Below $0.30 After $25.4M Whale Transfer – What’s Next?
A massive 100 million Dogecoin (DOGE) deposit, worth about $25.4 million, just landed on Binance, the world’s largest exchange. Whale Alert reported this unexpected transfer, which breaks the recent trend of withdrawals. Traders now wonder whether this move signals an impending sell-off or if a whale is simply moving funds. Shortly after the deposit, Dogecoin dropped below the critical $0.30 mark for the first time since November 2024. The price slipped another 0.8%, fueling speculation that the large transaction triggered selling pressure. With over 48,000 people tracking this whale movement, the market watches closely for the next big shift. What Does This Mean for Dogecoin? Large transfers to exchanges often suggest that whales plan to sell. When investors see such a move, panic can spread. Many traders interpret significant deposits as an early warning of an upcoming price drop. The timing of this transaction, coinciding with DOGE’s decline, only amplifies concerns about a potential sell-off. Read Also: Dogecoin Hits $2.47 Billion OI: 12% Surge Signals Bullish Future However, not every major deposit leads to selling pressure. Some whales transfer funds for internal exchange movements or strategic investments. While this deposit raises questions, it does not guarantee a market downturn. The real impact will depend on what happens next on Binance. Why This Transfer Could Be Bullish Despite fears of a price drop, this transfer might not be a bearish signal. Exchanges sometimes move large amounts of cryptocurrency between wallets for liquidity management. If Binance itself made this transfer, then no real selling pressure exists. Institutions or major traders might also use such movements to prepare for strategic purchases. If investors see this dip as an opportunity, Dogecoin could bounce back quickly. Market Sentiment and Key Levels to Watch DOGE now sits at a critical support zone. If it stays above $0.30, confidence could return. If it breaks below, the next potential drop might lead to $0.28 or even $0.25. On the other hand, if buying pressure emerges, DOGE could rebound toward $0.32 or higher. Traders now watch the Binance order books closely for signs of accumulation or rapid selling. What’s Next for Dogecoin? Crypto markets often react to speculation, and this whale deposit adds fuel to ongoing discussions. If selling pressure mounts, Dogecoin could continue its decline. However, if traders step in to buy the dip, a recovery may follow. For now, all eyes remain on Binance to see if this DOGE enters the market or stays in the hands of a patient investor waiting for the next move.
Dogecoin Hits $2.47 Billion OI: 12% Surge Signals Bullish Future
Dogecoin (DOGE) shows signs of a potential bullish shift despite recent price volatility. The meme coin has found strong support at $0.26, suggesting possible upward movement. Over the past seven days, DOGE has struggled to stabilize while attempting to retest the $0.40 level it reached in December 2024. DOGE’s Price Fluctuations Hint at a Potential Breakout Despite ongoing fluctuations, Dogecoin might be preparing for a breakout. The coin’s open interest (OI) recently surged, signaling renewed investor confidence. CoinGlass data reveals that DOGE’s open interest jumped to 9.38 billion DOGE within 24 hours. This increase represents $2.47 billion in funds invested into open positions, highlighting growing optimism about the meme coin’s future. Investors Bet Big on Dogecoin’s Potential The rise in open interest reflects stronger investor participation and confidence. In just four hours, DOGE’s OI climbed 1.77%, as more participants bet on the coin’s potential. This renewed interest coincides with reports of a Dogecoin ETF filing, which could further boost optimism and increase demand in the coming weeks. At the time of writing, DOGE trades at $0.2647, down 2.34% over the past 24 hours. The coin has rebounded from a low of $0.2592, indicating potential upward momentum. Analysts suggest that ongoing accumulation and rising OI might help DOGE retest the critical $0.40 resistance level if buying pressure continues. Key Exchanges Drive Dogecoin Trading Activity Several major crypto exchanges have driven Dogecoin’s increased trading activity. Gate.io leads, holding nearly one-third of DOGE’s cumulative open interest. The exchange reported 3.10 billion DOGE in open positions, valued at $814.26 million. Binance follows with 2.17 billion DOGE, representing 23.11% of the open interest or $570.13 million. Bybit ranks third with 1.72 billion DOGE, valued at $450.94 million. Read Also: Dogecoin (DOGE) Eyes $0.39 After 15% Price Surge… Meanwhile, Bitget, OKX, BingX, and Hyperliquid have also reported significant trading volumes. Bitget holds 982.34 million DOGE in open interest, while OKX accounts for 735.47 million. BingX and Hyperliquid recorded 330.35 million and 198.44 million DOGE, respectively. The broad participation across multiple exchanges underscores growing market interest in Dogecoin. Can DOGE Overcome Its Resistance? Dogecoin faces a critical test as it attempts to reclaim its $0.40 peak. The rising open interest indicates that investors expect positive price movement. However, DOGE must overcome its current resistance and sustain upward momentum to confirm the bullish outlook. The potential approval of a DOGE ETF could act as a catalyst, driving increased institutional and retail interest.
Dogecoin (DOGE) Eyes $0.39 After 15% Price Surge – Can Bulls Maintain Momentum?
Dogecoin (DOGE) is surging after the U.S. Securities and Exchange Commission (SEC) accepted Grayscale’s DOGE exchange-traded fund (ETF) application. This marks a major milestone for institutional adoption, signaling potential mainstream recognition of the meme-based cryptocurrency. Though the acceptance does not guarantee approval, it reflects increasing regulatory openness toward crypto investment products. If approved, the ETF could boost DOGE’s liquidity and credibility, attracting new investors and fueling further price appreciation. Dogecoin Price Analysis: Key Resistance Levels in Focus The recent price action shows DOGE rebounding strongly from a prolonged correction phase. After completing a five-wave impulsive structure, DOGE dipped into an ABC corrective wave, bottoming out near $0.20 at the 0.786 Fibonacci retracement level. This critical support zone triggered a recovery, propelling DOGE toward significant resistance levels. Currently, DOGE is trading near $0.27, testing the 0.5 Fibonacci retracement level at $0.287. Breaking this resistance could send DOGE toward $0.33 and possibly $0.39, aligning with the 0.382 and 0.236 Fibonacci retracement levels, respectively. The Relative Strength Index (RSI) on the 4-hour chart indicates growing bullish momentum. The indicator shows a divergence, suggesting that buyers are gaining control. However, DOGE must hold above $0.24 to sustain this bullish structure. Failing to do so could lead to a retest of $0.17 before another upward attempt. Dogecoin Forms Bullish Pattern: Can It Break $0.30? On the 1-hour chart, DOGE is forming a classic cup and handle pattern, a well-known bullish reversal signal. The neckline of this formation sits around $0.30, coinciding with the 0.5 Fibonacci retracement level. A breakout above this zone could confirm a strong upward move toward $0.33 and eventually $0.39. If momentum strengthens, DOGE may even challenge previous highs, driven by increasing speculation and ETF-related enthusiasm. While momentum indicators favor a bullish breakout, traders should watch for potential rejection at $0.287. A failure to hold above this level might lead to a pullback toward $0.24, where buyers could step in again. If the pattern plays out successfully, DOGE could enter a new bullish phase, targeting key resistance levels last seen in late 2024. Market Outlook: Will DOGE Maintain Its Uptrend? Traders remain optimistic as DOGE holds strong above crucial support levels. The SEC’s ETF review has injected fresh excitement into the market, but sustained gains require continued buying pressure. The broader crypto market sentiment also plays a significant role in DOGE’s trajectory. If Bitcoin and Ethereum maintain their bullish trends, DOGE could ride the wave and attract more investors. A successful close above $0.287 could set the stage for a sustained rally toward $0.33 and $0.39. However, if sellers regain control, DOGE might experience a temporary pullback before its next move. Given the ongoing ETF developments and technical patterns, DOGE appears poised for further price appreciation in the coming weeks. What This Means for Traders and Investors Short-term traders should watch the $0.287 resistance closely. A breakout above this level may signal a strong buying opportunity. For long-term investors, the ETF approval process remains a crucial factor. If regulators greenlight the fund, DOGE could see heightened institutional demand, pushing its value even higher. While risks remain, the current market structure suggests that DOGE has room for further gains. Read Also: Dogecoin Surges 4% After Elon Musk’s DOGE Website Launch—$0.5740 Price Target in Sight? The SEC’s acceptance of Grayscale’s DOGE ETF application has reignited interest in Dogecoin. While final approval remains uncertain, the market has responded positively, pushing DOGE toward critical resistance levels. Breaking above $0.287 could open the door for a move to $0.33 and beyond. However, traders should remain cautious, as failure to hold above key support could lead to temporary pullbacks. As institutional interest grows, DOGE’s long-term prospects continue to strengthen. With momentum building, all eyes remain on whether DOGE can sustain this rally and establish new highs in 2025.
