DOGE Surges 63%, But Can It Hold $0.227?

Key Insights:

• DOGE tests $0.227 support after 63% rally, facing pressure from short-term profit-taking activity.
• Hidden bullish divergence was spotted on the 4H chart, but the RSI remains neutral, with unclear recovery signals.
• Long-term holders hold firm as realized profits spike, supporting DOGE amid increasing downside volatility.

According to BitGuru, Dogecoin surged over 63% in recent trading, climbing from $0.17587 to a peak of $0.28667. The move attracted attention across the market. However, the rally has cooled, and the price is now testing a key support zone near $0.227.

A break below this level may expose DOGE to further downside, with $0.18 emerging as the next area of demand. As of press time, the token was at $0.225195, down 5.85% in the past 24 hours.

The sharp drop signals a wave of short-term profit-taking. Trading volume has reached over $3.5 billion, showing heavy activity from traders looking to secure gains from the recent price spike.

Mixed Signals From Technical Indicators

On the 4-hour chart, a hidden bullish divergence has appeared. DOGE formed a higher low while the Relative Strength Index (RSI) made a lower low. As analyst Trader Tardigrade predicts, this pattern can sometimes lead to price recovery, but it is not guaranteed.

Despite the divergence, RSI levels remain neutral. Market watchers are waiting for price action confirmation before expecting a strong rebound.

Dogecoin RSI Bullish Divergence | Source: X

If DOGE manages to climb back above $0.245, it may attempt to reach $0.268. Until then, sideways movement or further drops remain possible.

Long-term holders steady as key support faces pressure

DOGE is now under pressure to hold the $0.227 level. If this support fails, analysts expect a possible decline toward $0.198 or lower. 

Resistance is currently seen around $0.245, a level that must be reclaimed for bullish momentum to return. Some analysts are concerned that DOGE’s failure to hold above $0.227 could trigger further selling.

DOGE realized profit/loss ratio | Source: Glassnode

However, the coin also saw a notable rise in its realized profit/loss ratio, a metric that tracks how much profit is being locked in by active traders. This change suggests that short-term holders are driving the current decline.

Long-term DOGE holders are not exiting their positions. The Liveliness metric, which tracks wallet activity, has declined—suggesting that experienced holders are staying put. Their continued support has helped stabilize DOGE during past corrections.