- Dogecoin price has broken out of an immediate supply zone but lacks momentum to stay above it.
- Bollinger Bands have tightly wrapped around DOGE, creating a no-trade zone ranging from $0.284 to $0.253.
- If the demand zone’s lower trend line at $0.227 is breached, a correction could ensue.
Dogecoin price action reveals fleeing investors as hype fades away, at least until they come back in hordes. For now, DOGE is stuck inside a void that lacks volatility, but an upside move out of this zone seems likely.
Dogecoin awaits volatile burst
On the 4-hour chart, Dogecoin price shows a series of candlesticks whose returns are 5% or less for the past three weeks. Such price action shows a lack of investor interest in the meme coin, and the declining volume confirms this.
Dogecoin price moved out of a demand zone’s upper trend line at $0.269, suggesting a bullish bias. However, it is still contained between the 50 and 100 Simple Moving Averages (SMA) at $0.284 and $0.244, respectively.
The Bollinger Bands indicator has tightly enveloped Dogecoin price, suggesting a departure in volatility. A move out of the upper band at $0.284, coinciding with the 50 SMA, could signal an upswing’s start and the reentry of volatility.
In such a case, market participants could expect DOGE to surge 12% to $0.319, the 50% Fibonacci retracement level. If the buyers pile up, another 40% ascent to $0.448 is possible.
DOGE/USDT 4-hour chart
However, if the buyers fail to step up, leading to a breakdown of the 100 SMA at $0.244, Dogecoin price will likely revisit the support barrier’s lower band at $0.227. If DOGE trades below this level for an extended period, the bullish scenario will face invalidation.
Additionally, such a move would trigger a 10% drop to $0.206.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
HYPE drops 6% amid Eyenovia plans to establish Hyperliquid treasury
Hyperliquid (HYPE) sustained a 6% decline on Tuesday despite Nasdaq-listed Eyenovia's (EYEN) announcement that it entered a securities purchase agreement to offer up to $50 million of its shares to establish a HYPE treasury.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP dips as US involvement in Israel-Iran conflict looms
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) prices hovered around key levels on Wednesday after falling the previous day. The crypto market turned risk-averse amid growing concerns that the United States could intervene in the escalating conflict between Israel and Iran.
Crypto market tumbles as US missile strikes over Iran: SPX, VIRTUAL, and WIF lead the losses
The broader cryptocurrency market is trading in the red as the US steps into the Israel-Iran conflict. Bitcoin (BTC) trades below $105,000 at press time, while meme coins such as SPX6900 (SPX) and Dogwifhat (WIF) lead the market pullback alongside Virtuals Protocol (VIRTUAL).
Shorts weigh on Ethereum amid whale accumulation and strong ETH ETF inflows, experts reveal why
Ethereum (ETH) is down 2% on Wednesday amid a simultaneous growth in accumulation and short positioning across ETH futures. The divergence follows investors leveraging a delta-neutral play to scoop yield.
Bitcoin: BTC could slump to $100K amid Trump-Musk tussle
Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.