Dogecoin (DOGE) Price Prediction: Can Dogecoin End Its Consolidation With a Surprise Rally Above $0.24 in June?

Dogecoin is once again stirring interest across the crypto space, as traders eye a potential breakout after weeks of range-bound trading.

As of June 16, 2025, the meme coin continues to consolidate near a key technical support zone, prompting speculation among analysts and investors about an imminent rally—possibly beyond the $0.24 level.

Dogecoin Price Analysis: Signals of a Bullish Reversal

Dogecoin’s price behavior over the past few weeks shows signs of an early-stage bullish reversal. Currently trading around $0.177, DOGE has held above a notable support level marked by the convergence of a Fair Value Gap (FVG) and a 4-hour Order Block (OB).

According to analyst Andrew Griffiths, this overlapping zone between $0.176 and $0.178 reflects “strategic positioning” rather than panic-driven exits, as seen in high-volume reactions and liquidity wicks.

Dogecoin price holds major support near $0.176, igniting hope for a major upside rally ahead. Source: erotokritosrotsas on TradingView

“This setup doesn’t indicate weakness,” said Griffiths. “It’s smart money soaking up liquidity at discounted prices.” The price zone served as a springboard, with buyers stepping in as leveraged positions and weak holders were flushed out.

If the current rebound gains strength, a measured move toward $0.21 is expected, which would mark an 18% rise from the current price. This forms a stepping stone for DOGE to potentially challenge the $0.24 resistance later in the month.

Consolidation or Launchpad? Dogecoin Trading Setup in Focus

The Dogecoin network has been in a tight trading band for several weeks, with price action fluctuating between $0.175 and $0.18. Volume remains relatively subdued, suggesting indecision in the market. However, historical patterns point to these phases as precursors to major price spikes.

Dogecoin is showing potential signs of recovery after consolidating in a demand zone, with traders watching for a bullish candle above this level to confirm a trend reversal. Source: Paper_Trader1775 on TradingView

Trader Tardigrade, a well-known crypto analyst, noted in a June 15 tweet, “Every time Dogecoin consolidates like this, a rally follows. It’s a pattern that hasn’t missed.” Such cycles have previously triggered “Doge seasons”—a term used to describe sudden price bursts in the meme coin.

Supporting this narrative, trading volume on Binance spiked by 18% to $320 million within a 24-hour period, indicating growing market attention. On-chain data added to the intrigue when Whale Alert reported a transfer of 150 million DOGE, worth over $21 million, to an unknown wallet—often a sign of large-scale accumulation.

Technical Indicators Point to Breakout Potential

From a technical perspective, indicators are leaning bullish. The Relative Strength Index (RSI) sits near 52 on the daily chart—neutral but with room for upward movement. Bollinger Bands have tightened considerably, suggesting an impending volatility spike.

Meanwhile, DOGE futures open interest has risen by 12% to $180 million, according to CoinGlass. This increase signals that speculative positions are building, often a forerunner to explosive price moves.

“Volume confirmation will be key,” noted one technical analyst. “A breakout above $0.18 on strong volume could open the path to $0.21, and with momentum, possibly $0.24.”

Broader Market Sentiment Adds Fuel

Across the broader crypto universe, sentiment is optimistic but hesitant. Bitcoin is at $65,200, having risen 1.8%, and Ethereum advances 2.1% to $3,450. As Dogecoin’s historically high correlation with BTC stands at approximately 0.75, a pop in Bitcoin can further fuel the momentum of DOGE.

Dogecoin (DOGE) could retest the monthly high near $0.24 as the price holds key support at $0.17. Source: Brave New Coin

In addition, social mood is likewise increasing. Data from LunarCrush show a 25% improvement in mentions of Dogecoin on platforms, reflecting increasing community interest and expectation.

DOGE Price Prediction: Can Dogecoin Rise to $0.24?

While short-term resistance is $0.18 and $0.21, a breakout could push DOGE value to test $0.24, as long as it comes from sustained volume and social hype. But should it not break resistance, it may once again retest support in the region of $0.16.

For Dogecoin investors, the next few days are crucial. The meme coin is in a technical juncture, and any firm direction—either higher or lower—will likely dictate its course for June.