DOGE price looks set to resume rally | Credit: Hameem Sarwar
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Key Takeaways
DOGE has cooled after a 23% monthly rally but continues holding near the key $0.12 resistance zone.
Rising open interest and positive momentum indicators suggest traders are still positioning for further upside.
A breakout above $0.13 could open the path toward $0.19, while failure may expose DOGE to support near $0.08.
After surging more than 23% over the last 30 days, Dogecoin (DOGE) has started losing short-term momentum.
Despite that, the broader technical setup still favors bulls.
At the time of writing, the memecoin continues trading near local highs, suggesting that holders are not rushing to exit positions despite the latest slowdown.
Here is why Dogecoin’s price could trade higher again.
As shown below, the altcoin is trading near $0.12 at press time, holding close to recent highs as traders prepared for another breakout attempt.
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However, bulls still need confirmation above resistance before a larger rally can begin. If bulls secure a breakout above that zone, the next upside targets could emerge near $0.13
Speculative Demand Strengthens Further
The derivatives market continues to surge, with open interest rising another 5% over the last 24 hours as traders increase exposure amid improving market sentiment.
Current data shows open interest climbing toward $1.71 billion, while DOGE’s price remains stable above $0.11.
The sustained increase suggests that fresh capital continues to enter the market, reinforcing the ongoing recovery narrative.
Meanwhile, growing open interest alongside a strengthening price structure reflects rising speculative confidence among traders.
However, a buildup in leveraged positions could also increase short-term volatility if Dogecoin’s price is rejected near overhead resistance zones.
Consequently, the breakout signals an improving market structure as buyers slowly regain control.
Momentum indicators are also beginning to align with the recovery narrative. The Relative Strength Index (RSI) has climbed toward the overbought region near 67, reflecting stronger bullish participation.
Meanwhile, the Chaikin Money Flow (CMF) remains positive at 0.06, suggesting steady capital inflows despite lingering market caution.
However, Dogecoin’s price still faces a critical resistance cluster between $0.13 and $0.16, which aligns with the 0.236 and 0.382 Fibonacci retracement levels.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
