• Dogecoin price had a bullish breakout from a key pattern on the 4-hour chart.
  • The digital asset has re-tested the previous resistance level and aims for a 40% rebound.
  • However, on-chain metrics show that DOGE faces many barriers ahead.

Dogecoin price has been trading inside a downtrend since February 8 as the hype surrounding the project has faded away, especially after the last announcement from Elon Musk. Nonetheless, the digital asset seems ready for an excellent rebound towards $0.076.

Dogecoin price on the brink of a 40% move

On the 4-hour chart, Dogecoin price had a breakout above a descending triangle pattern with a target of 40% towards $0.076. After the initial spike to $0.064, the digital asset dropped to re-test the previous resistance level, now turned into support, which has held so far. 

doge price

DOGE/USD 4-hour chart

There is a critical resistance level formed at $0.06, which coincides with the 50-SMA and the 100-SMA points. A clear breakout above this key level will quickly push Dogecoin price up to $0.076 in the short-term.

doge price

DOGE IOMAP chart

However, the In/Out of the Money Around Price (IOMAP) model shows steep resistance ahead above $0.054 until $0.06, which gives the upper hand to the bears. The most significant support area is located between $0.048 and $0.049, which means a fall towards this range is likely. 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Crypto Week survives scare as House members scramble to advance procedural motion in a 217–212 vote

Crypto Week survives scare as House members scramble to advance procedural motion in a 217–212 vote

House Republicans scrambled to win over holdouts on Wednesday to pass a procedural motion for several crypto bills by a vote of 217–212. The longest House vote in history, which lasted nearly ten hours, will see the GENIUS and CLARITY bills head to the floor for final passage deliberations on Thursday.

Chainlink stabilizes as Westpac and Imperium Markets adopt LINK in Project Acacia

Chainlink stabilizes as Westpac and Imperium Markets adopt LINK in Project Acacia

Chainlink (LINK) price is stabilizing at around $16.47 on Thursday after rallying 5% so far this week. LINK announced on Thursday that major institutions, including Westpac Institutional Bank and Imperium Markets, will integrate Chainlink in Project Acacia, thereby boosting institutional use cases.

Top Crypto Gainers: Solana-based meme coins FLOKI, BONK post double-digit gains, CRV targets $1

Top Crypto Gainers: Solana-based meme coins FLOKI, BONK post double-digit gains, CRV targets $1

Solana-based meme coins Floki (FLOKI) and Bonk (BONK) edged lower by 2% at press time on Thursday, following the 30% gains on Wednesday, ranking as top crypto gainers in the last 24 hours. Curve DAO (CRV) ranks third with a 21% surge following a triangle setup breakout, targeting the $1 psychological level.

TRX rises 3% as SRM Entertainment rebrands to Tron Inc

TRX rises 3% as SRM Entertainment rebrands to Tron Inc

TRON (TRX) gained 3% on Wednesday following Nasdaq-listed SRM Entertainment's (SRM) announcement of its rebrand to Tron Inc. as part of its shift to a TRX treasury strategy.

Bitcoin: BTC hits new all-time high and enters price discovery mode

Bitcoin: BTC hits new all-time high and enters price discovery mode

Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday. 

The Best brokers to trade EUR/USD

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.

BTC

ETH

XRP