Dogecoin price could jump past $0.13 — Here's why | Credit: Hameem Sarwar
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Key Takeaways
Dogecoin’s price has surged 10%, signaling a potential trend reversal from the previous bearish outlook.
Indicators are mixed: while the AO turns positive, the CMF remains negative.
Open interest has dropped, indicating reduced speculative activity, but DOGE could still trade higher.
Dogecoin (DOGE) is attempting a turnaround. After days of downward pressure, the memecoin has surged 10%, reigniting bullish sentiment.
However, the rally faces a key test. If buyers fail to break resistance, the move could stall.
So, can Dogecoin price sustain momentum and climb to $0.13?
Upside Moves Remain Fragile
DOGE is showing renewed activity on the 4-hour chart, as the memecoin price presses higher. However, it still struggles to break a key resistance zone.
The asset is currently trading around $0.099, holding within a defined range.
On one hand, buyers continue to defend the $0.089 support zone, preventing deeper downside. On the other hand, Dogecoin’s price repeatedly failed to break above the $0.11 resistance level.
As a result, the market remains range-bound. Lower highs earlier have given way to slightly higher lows. This suggests a gradual shift toward bullish structure, but not a confirmed breakout.
Momentum indicators are sending mixed signals. The Chaikin Money Flow (CMF) sits slightly negative at -0.07. This indicates weak capital inflow despite recent price recovery.
Meanwhile, the Awesome Oscillator (AO) has flipped positive and is printing green bars.
This divergence matters. Although bullish momentum is building, volume-backed conviction is still lacking.
Therefore, upside moves may remain fragile unless inflows increase.
Dogecoin Shows Fading Demand
Dogecoin’s derivatives market reflects this hesitation, as open interest (OI) declines alongside price stabilization near $0.10.
After peaking above $5 billion during prior rallies, open interest has steadily cooled to around $1.25 billion, a 5% decline, signaling reduced speculative activity.
Notably, this drop follows sharp price contractions, suggesting forced liquidations and position unwinding rather than fresh bearish buildup.
As a result, the market appears to be resetting. Meanwhile, the flatter open interest trend in recent sessions points to indecision, with DOGE traders hesitant to commit aggressively.
However, this compression could precede a volatility expansion. If Dogecoin’s price breaks above key resistance, renewed leverage may fuel upside momentum.
Conversely, continued stagnation or downside pressure could keep participation muted.
For now, the alignment of low open interest and subdued price action reflects a market in transition rather than one driven by strong directional conviction.
DOGE Price Outlook: Upside Pressure
On the daily chart, DOGE’s price remains under sustained pressure as price action continues to respect a descending trendline, reinforcing a broader bearish structure.
After repeated rejections near the 0.236 Fibonacci level at $0.13, the asset has steadily drifted lower, now hovering around $0.10.
However, momentum is beginning to shift. Buyers are gradually stepping in, as seen in the recent higher lows and a mild uptick in volume.
At the same time, the Bull and Bear Power (BBP) indicator is turning positive, suggesting that selling pressure is weakening.
Meanwhile, the Money Flow Index (MFI) is rising toward the 65 level, indicating improving capital inflows.
Still, resistance remains firm overhead. The descending trendline continues to cap upside attempts, limiting breakout potential.
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.
