After a strong climb over the past week, Dogecoin has slipped back to the $0.22 range, cooling from highs above $0.24 over the weekend.
The retracement, while notable, hasn’t derailed its broader technical picture — and some analysts believe the next decisive breakout could be its most important in months.
Short-Term Dip, Long-Term Signal
While DOGE is trading slightly in the red compared to the wider crypto market, a rare “golden cross” — where the 20-day moving average rises above the 200-day — remains intact. For market watchers like Ali Martinez, that’s enough to keep the bullish case alive. He’s targeting a potential rally toward $0.70 if the coin can push past the critical $0.36 level.
Why the Market Stalled
The pullback comes after more than 95 million DOGE entered circulation in a scheduled unlock, an addition worth about $22 million. Although this represented just a fraction of total supply, the timing amplified its effect. Daily trading volumes dropped sharply, liquidity thinned, and broader market liquidations topped $136 million, adding further pressure. Social metrics also turned lower, with Dogecoin’s dominance in crypto conversations falling over 22% in a month.
Indicators Hint at Renewed Momentum
Even so, momentum gauges suggest the bulls haven’t left. The MACD has crossed into positive territory, while the relative strength index sits near 67 — high, but not yet overbought. If DOGE can maintain support around current levels, a climb back toward the mid-$0.30s could set the stage for a run to new highs.
For now, traders are watching whether this consolidation turns into a springboard — or the start of a longer cooling-off period.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/dogecoin-pauses-rally-but-bullish-structure-suggests-bigger-move-ahead/