Dogecoin (DOGE) Ready to Howl Again? 30% Surge on the Radar

TLDR:

  • Dogecoin bounced from $0.22 support, showing signs of renewed buying interest.
  • A similar setup in July led to a 31% rally from $0.21 to $0.28.
  • Price faces key resistance at $0.25; breakout could confirm next move.
  • Volume stays high above $3.7B, but short-term trend still lacks confirmation.

Dogecoin is showing signs of another breakout. The price just bounced off a key level, and now it’s grinding higher. Traders are spotting a familiar pattern that once led to a 30% jump. Market watchers say if this setup holds, a run toward $0.28 could follow. But not everyone is convinced just yet.

Dogecoin Price Grinds Higher After Support Rejection

Dogecoin recently dipped to the $0.22 mark but bounced hard from that zone. This area acted as a demand floor, halting the drop and sparking renewed interest. According to BitGuru, price action now shows higher lows forming just under $0.245.

The last time DOGE followed this setup, it rallied more than 31%. From a low of $0.21389, it climbed to $0.28667. The chart now reflects a similar consolidation pattern, hinting at a possible repeat. Analysts are watching for a clean breakout past $0.25 to confirm.

BitGuru pointed to a fractal match, a mirrored structure, between the current price behavior and July’s rally. A rounded bottom formation with long wicks near support signals buyers stepping in. If DOGE pushes past mid-range, the next target sits at $0.28.

Technical indicators show early strength. The 4-hour chart suggests momentum may be building, although price hasn’t broken out yet. The setup looks bullish, but confirmation hinges on a push above $0.245 to $0.25.

Pullback Raises Caution Among Traders

However, not everyone is leaning bullish. Crypto Bully noted that DOGE failed to hold above its range highs after the last move. 

Price slipped back inside the range, leading to renewed downside pressure. He’s watching for a retest of the lower band near support.

DOGE’s price has since dropped to $0.2277, per CoinGecko. That’s a 5.24% dip in the past 24 hours and a 15% slide in seven days. Volume remains strong at over $3.7 billion, showing traders are still active.

DOGE price on CoinGecko

Dogecoin now sits at a crossroads. A breakout above $0.25 could trigger a repeat of the July move. If not, traders may look back toward the $0.22 support.

With volume rising and past patterns reappearing, the next few sessions may decide where DOGE heads next. For now, eyes are locked on $0.25.

 

The post Dogecoin (DOGE) Ready to Howl Again? 30% Surge on the Radar appeared first on Blockonomi.

Source: https://blockonomi.com/dogecoin-doge-ready-to-howl-again-30-surge-on-the-radar/