The leading meme coin bounced from its intraday low of $0.154 amid a more than 50% decline in trading volume.
However, both on-chain and derivatives data reveal that investor sentiment remains tepid, with waning bullish sentiment among retail and long-term holders.
Once the most-talked-about coin in crypto, DOGE continues to trade significantly below its all-time high of $0.70.
Dogecoin Price Analysis: Holding Key Support Could Spark Recovery
Dogecoin’s daily chart shows the coin consolidating within a broad ascending channel after rejecting the mid-range resistance earlier this month.
The price now tests the horizontal support zone between $0.154 and $0.160. The RSI reads 32.9, placing DOGE close to oversold territory while the MACD histogram continues to flatten.
Source: TradingView
If DOGE holds this critical support, it could move towards $0.26 and eventually $0.48, aligning with the upper boundary of its ascending channel.
A confirmed breakout above that level could open the door to the long-term target near $1. However, a pullback below $0.15 could invalidate the bullish setup and push DOGE back toward $0.095.
Calm Before the Storm?
While sentiment across the Dogecoin market remains bearish, price setup and technical indicators indicate that a potential rebound may be brewing.
Historically, DOGE tends to rise when traders least expect it and if the meme coin can maintain its footing above $0.157, this could be the calm before its next move higher.
As DOGE Eyes $1 Level, New Maxi Doge Presale Raises $3.9 Million
While DOGE has yet to break past the $0.70 peak, other projects gain attention like Maxi Doge ($MAXI), a meme-driven cryptocurrency that connects the high-energy world of trading with the spirit of gym culture.
It represents a mix of humor, grit, and motivation for people who like taking bold risks, both in fitness and finance.
The goal behind $MAXI is simple: to give smaller traders a sense of strength and belonging in a market usually dominated by large investors.
Currently, $MAXI is in its presale phase, giving early supporters a chance to get in before public launch. The project has already raised a massive $3.9 million in its ongoing presale phase.
The $MAXI token has a fixed supply to maintain scarcity and holders can stake tokens to earn rewards and gain access to exclusive community groups and trading tournaments.
Currently, early buyers can access up to 78% and more per annum in rewards.
To buy the token at $0.0002665, before the next price increase in 16 hours, visit the official Maxi Doge website and connect a supported wallet, like Best Wallet.
You can swap existing crypto or use a debit/credit card to complete your purchase.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/dogecoin-price-prediction-price-steadies-while-sentiment-tanks/