Dogecoin (DOGE) Price Targets $0.1930 With Golden Crossover

With the recent volatility in the crypto market, meme coins have experienced significant fluctuations. Dogecoin (DOGE), the top meme coin by market cap, has exhibited increased volatility but remains positive, with 30-day gains of 15.66%.

Given DOGE's status as one of the few positive top meme coins, is now an optimal time to purchase it ahead of a potential bull run?

Dogecoin Price Performance

On the daily chart, the bullish trend in DOGE price has paused near the $0.15 psychological mark. This bullish trend emerged from a falling wedge breakout rally, leading to a golden crossover between the 50D and 200D EMA.

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The uptrend in Dogecoin (DOGE) price has struggled to surpass the 38.20% Fibonacci retracement level at $0.14232. After a brief v-shaped reversal before reaching the 23.60% level at $0.12397, Dogecoin has entered a sideways trend.

Currently, an intraday pullback of 0.83% tests the 38.20% level, with DOGE trading at $0.14291 following a 4.95% jump on Sunday.

As the bullish trend continues to tease an extension, traders should anticipate a new higher high above $0.15.

Technical Indicators:

RSI: The sideways movement indicates a bearish divergence in the daily RSI line, suggesting potential weakness.
EMA: The uptrend in the 50D EMA has resulted in a golden crossover with the 200D EMA, increasing the likelihood of an extended bull run.

Consequently, technical indicators support the bullish prospects for Dogecoin (DOGE) price.

80% Dogecoin Volume In The Money Suggests Uptrend Continuation

According to the Global in/out of the money indicator from IntoTheBlock, approximately 80% of Dogecoin (DOGE) volume is "in the money," indicating that the buying price is lower than the current price. The current range or "at the money" extends from $0.1359 to $0.1460.

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The resistance for DOGE price using the next "out of the money" range extends from $0.1460 to $0.1717. With 460k addresses purchasing DOGE at prices between $0.10 and $0.1190, the indicator suggests that the uptrend is likely to continue.

Dogecoin Price Targets

Based on the Fibonacci retracement level from the 2024 peak at $0.2199 to the $0.09431 level, the uptrend encounters resistance at the 38.20% level at $0.1432. A bullish extension may challenge the 50% level at $0.15715 in the near term. Medium-term targets extend to the 78.60% level at $0.19309.

Alternatively, crucial support for DOGE remains at $0.1239.

For additional insights, refer to Coinpedia's DOGE price prediction for 2024-2030.