Price action in Dogecoin shows 43% growth over the past 30 days and is approaching a crucial resistance point at $0.25. The coin has the potential to move upward and hit $0.30 or $0.73905.
Long-term holders are coming back, meaning their accumulation ended after 954 days, and signaling the market is gaining strength.
Elliott Wave analysis suggests DOGE is in Wave 3, often the strongest bullish phase in a five-wave structure.
Dogecoin picks up renewed interest in May as it nears a major resistance zone at $0.25. The meme-based digital asset has recorded a 43% price increase in the past 30 days, climbing to $0.2278. Despite remaining down on a year-to-date basis, DOGE has persisted in showing upward pressure through steady retail interest and a strengthening market structure. Technical and on-chain metrics now point toward continuation potential, with a break above $0.26 considered a near-term benchmark.
https://twitter.com/Jamosparsa/status/1925280381080568301 Multi-Year Accumulation Phase Shows Signs of Exhaustion
Recent activity in on-chain metrics highlights a potential end to a prolonged consolidation phase. The "age consumed" metric for DOGE has spiked, suggesting dormant coins are re-entering circulation. This shift comes after 954 days of steady accumulation, indicating that long-term holders may now be repositioning.
https://twitter.com/TitaniumXBTC/status/1924206441600332181
In parallel, the Mean Dollar Invested Age — a metric tracking the average age of tokens in wallets weighted by value — has also surged. This rise typically reflects a slowdown in movement, often preceding significant price shifts. The convergence of these metrics suggests that previous inactivity is giving way to renewed momentum.
Elliott Wave Structure Indicates Mid-Cycle Momentum
The technical structure on the medium-term chart reveals that DOGE may be forming Wave 3 of a five-wave Elliott sequence. According to this framework, Wave 1 has been completed, and the current movement is part of Wave 3 — generally considered the strongest leg in such a formation.
https://twitter.com/KayneStanway/status/1923411686746177655
DOGE currently trades within a tight formation, forming sub-waves 1 and 2 inside Wave 3. The next leg up would require price to break through immediate resistance at $0.25. If that occurs, the next technical targets include $0.26 and $0.30, with a longer-term projection potentially reaching $0.73905 — marking a 215% gain from current levels.
Market Behavior and Volume to Dictate Short-Term Path
Despite its recent surge, Dogecoin’s outlook depends heavily on trading volume and retail participation. Current conditions show active retail interest, but sustained price movement will require consistent volume growth. Analysts view the $0.26 level as a critical test zone. Failure to hold gains above this level could result in a retraction.
The invalidation point for the current bullish structure is noted at $0.08. Should price fall below this threshold, the projected wave structure would no longer be valid. However, as long as DOGE maintains above key support levels and trading activity remains elevated, technical indicators suggest continued upward movement is plausible.
