The retracement, while notable, hasn’t derailed its broader technical picture — and some analysts believe the next decisive breakout could be its most important in months.
Short-Term Dip, Long-Term Signal
While DOGE is trading slightly in the red compared to the wider crypto market, a rare “golden cross” — where the 20-day moving average rises above the 200-day — remains intact. For market watchers like Ali Martinez, that’s enough to keep the bullish case alive. He’s targeting a potential rally toward $0.70 if the coin can push past the critical $0.36 level.
Why the Market Stalled
The pullback comes after more than 95 million DOGE entered circulation in a scheduled unlock, an addition worth about $22 million. Although this represented just a fraction of total supply, the timing amplified its effect. Daily trading volumes dropped sharply, liquidity thinned, and broader market liquidations topped $136 million, adding further pressure. Social metrics also turned lower, with Dogecoin’s dominance in crypto conversations falling over 22% in a month.
Even so, momentum gauges suggest the bulls haven’t left. The MACD has crossed into positive territory, while the relative strength index sits near 67 — high, but not yet overbought. If DOGE can maintain support around current levels, a climb back toward the mid-$0.30s could set the stage for a run to new highs.
For now, traders are watching whether this consolidation turns into a springboard — or the start of a longer cooling-off period.
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