TLDR
- Dogecoin price recently rebounded above $0.23 resistance
- Analysts predict possible explosive rally with targets of $0.30-$0.40 and eventually $1
- Current price around $0.22 with key resistance at $0.202
- Low social media attention viewed as contrarian indicator before potential surge
- Technical analysis shows formation of a “rounded base” pattern suggesting controlled accumulation
The meme-based cryptocurrency Dogecoin has seen a notable rebound recently, pushing above the $0.23 resistance level over the weekend. This upward movement appears to be holding as buyers have regained control of the market in the past week.
Several crypto analysts are eyeing the potential for major price increases in the coming weeks, with some setting ambitious targets as high as $1.
Dogecoin is currently trading around the $0.22 mark after recovering from recent lows. The price action has caught the attention of technical analysts who see promising patterns forming on the charts.
One analyst identified as MMBTtrader on TradingView has outlined that Dogecoin’s price action remains strongly bullish. The analyst suggests the current uptrend could continue as Dogecoin has yet to encounter major resistance.
While a short-term correction might occur after the recent rise, such a pullback could potentially serve as a springboard for further gains. This correction might happen just below the $0.25 level, though the analyst notes that with the current bullish momentum, the price could rise higher before any correction takes place.
Technical Indicators Point Higher
The key factor currently constraining Dogecoin’s price is a trend line that serves as a critical decision point for the meme coin. Breaking above this trend line could push the price toward $0.40, according to MMBTtrader.
Even more optimistically, the analyst suggests that if Dogecoin breaks above $0.40, it would signal an extremely bullish market, potentially propelling the price toward $0.75 and eventually to the highly anticipated $1 mark.
However, failure to break above the trend line could trigger bearish pressure, with potential downside targets of $0.13548, and possibly below $0.10 to around $0.09024 if selling pressure intensifies.
Another market expert known as Cryptohossel points to Dogecoin approaching a key resistance area around $0.202. A breakthrough at this level with strong volume could drive the price toward the $0.30 zone, followed by a rapid move to $0.32.
I barely see anyone talking about #Dogecoin on X right now, but if youāre into big moves, watch what happens over the next few weeks. Donāt underestimate the biggest meme in the universe once the media cycle begins ā and itās starting right now. $DOGE#DOGE is likely headingā¦ pic.twitter.com/tKTRZ22wCQ
— Cryptohossel (@Cryptohossel) May 8, 2025
The Quiet Before the Storm?
What makes the current situation particularly interesting is the relative lack of attention Dogecoin is receiving on social media platforms. Some analysts view this as a contrarian indicator ā a calm before a potential storm.
Cryptohossel warns traders not to underestimate “the biggest meme in the universe,” suggesting that Dogecoin’s quiet phase might be misleading and could precede an unexpected rally.
An analyst identified as ‘Blockchain Baller’ reports that Dogecoin could be reawakening as it forms a clean, rounded base on its price chart. Unlike the flashy quick surges seen in past cycles, the current price action shows a more measured, controlled accumulation phase.
$DOGE been sleeping, but itās starting to toss and turn
You zoom out, and thereās a clean rounded base forming
Not flashy, just slow, controlled accumulationIām calling $0.31 as the next major magnet
That level aināt random – itās where momentum flips and retail startsā¦ pic.twitter.com/RtDNcVhOnF— BlockchainBaller (@bl_ockchain) May 10, 2025
Blockchain Baller has identified $0.31 as the next major breakout target, describing it as a critical point where momentum typically shifts, often leading retail traders to re-enter the market.
The weekly timeframe is showing signs of a bullish reversal following a strong bounce from the $0.14 support level. For the $1 target to become realistic, volume confirmation and price performance in the coming weeks will be crucial factors to monitor.
Despite the positive outlook from various analysts, traders are advised to remain cautious and closely watch Dogecoin’s price movements before making investment decisions.
Dogecoin’s price has risen above $0.22, with multiple technical indicators suggesting further gains may be possible as the meme coin forms what appears to be a base for potential future rallies.
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