Dogecoin (DOGE) is stabilizing after a healthy correction, and all signs suggest that the bulls aren’t done yet. A powerful technical indicator — the 5-day RSI crossover — has just flashed, often preceding strong rallies. If current consolidation holds, DOGE may soon target the $0.30 level.
🔄 Profit-Taking and Geopolitical Tensions Slow the Rally
After several days of double-digit gains, Dogecoin fell 5.7% on Sunday, May 11, dropping below the $0.25 mark. The decline was triggered by a mix of profit-taking and heightened global tensions, especially the escalating conflict between India and Pakistan.
While positive news from the U.S. — particularly Trump’s confirmation of a successful trade deal with China — helped Bitcoin surge past $104,000, volatile altcoins like DOGE corrected instead. Trading volume in DOGE dropped from $4.5 billion to $3.5 billion in 24 hours, indicating capital rotation away from riskier assets.
💥 Derivatives Show $20M in Liquidations
The derivatives market reflects a shift in sentiment. Open interest in DOGE futures fell by 7.3% to $2.8 billion, while daily trading volume dropped nearly 20%.
More than $20 million in long positions were liquidated in the past 24 hours, with 75% of those being long bets. This indicates that overleveraged bulls were flushed out once DOGE dipped below $0.25.
Still, long/short ratios remain elevated — reaching 2.83 on Binance and 2.82 on OKX. Among top traders, the ratio exceeds 5.00, signaling that high-volume accounts still believe in a bullish continuation.
📈 RSI Crossover Confirms Bullish Trend
A key technical signal came on May 7, when the short-term purple RSI line crossed above the long-term yellow average — a classic bullish crossover. Since then, RSI has held steady at 70.85, indicating strong upward momentum.
DOGE has also maintained a higher low / higher high structure, with its most recent support forming around $0.23.
🚀 What’s Next? DOGE Targets $0.30
The technical outlook remains bullish as long as DOGE holds above $0.225. If the broader market stabilizes — particularly if Bitcoin stays above $104,000 — DOGE could regain momentum and push toward a breakout above $0.30.
📌 A major confirmation point may come soon:
A daily close above $0.25 (recent resistance) could trigger further gains. Positive volume delta — which reached +$27.96 million on Monday — suggests that smart money is already buying the dip into structural support.
📉 On the downside, a break below $0.19 would invalidate the bullish structure and send DOGE back into its previous consolidation range.
#DOGE , #Dogecoin , #CryptoMarket , #CryptoPredictions , #memecoin
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“