Dogecoin (DOGE) has once again become the focus of attention, with its price gradually approaching the psychological resistance level of breaking 0.20 USD. Analysts expect this coin to rise further in June.
The meme-inspired cryptocurrency has shown new strength in early June 2025, driven by institutional activity, technical signals, and growing retail enthusiasm.
DOGE price tests key resistance level
According to data from Brave New Coin, Dogecoin rose about 2.4% in the past 24 hours, climbing from 0.192 USD to a peak of 0.20 USD. Previously, a transfer of 20 million USD worth of Dogecoin to Coinbase was interpreted by many analysts as a sign of whale or institutional investor involvement.
Technical indicators reflect a bullish trend. Support has formed at 0.194 USD, while the 0.198-0.200 USD area currently poses the next key challenge. Based on the current Dogecoin price analysis, if it continues to break through this resistance level, Dogecoin may test 0.205 USD in the short term.
Analysts point out: "The recent surge in Dogecoin indicates strong buyer interest, especially from large institutional buyers." "Increased liquidity and soaring trading volume suggest that, despite general market caution, Dogecoin remains a favorite among speculators."
Chart patterns suggest a bullish structure
From a technical perspective, Dogecoin is currently at a critical moment. The well-followed market analyst Guangdong Cat points out that the area between 0.185 USD and 0.195 USD is a key demand zone, fluctuating between resistance and support since February.
"This is not a tweezer bottom, but a trident bottom used to test demand," the analyst stated. "Now let's see if $DOGE will fork from here."
If Dogecoin closes above this area, it may revisit the gap left when it fell from 0.195 USD to 0.215 USD in early May. However, falling below 0.185 USD could trigger another test near the April low of 0.13 USD, presenting new challenges for Dogecoin bulls.
Parabolic support indicates long-term upward trend
Another respected trader, ANBESSA, remains optimistic about Dogecoin's long-term trend. According to their 15-month analysis, the current pullback in Dogecoin aligns with the classic 0.382 Fibonacci retracement level and parabolic guide, both suggesting the possibility of a rebound.
ANBESSA wrote on X: "This is still completely in line with my predictions. Buying the dip is a given in a bull market."
The coordination of short-term and long-term technical roadmaps can provide additional confidence for long-term Dogecoin investors seeking strategic entry points.
Mysterious tweet sparks speculation
On June 3, the official DogecoinX account posted a mysterious message that sparked excitement among community members. Although the tweet only said 'soup', many believed this was a signal of an upcoming announcement or marketing campaign. Dogecoin's price briefly retreated, rising 1%, testing 0.20 USD.
Although the post does not have an official update, the Dogecoin network remains highly sensitive to social signals and online sentiment, especially under the sustained (though indirect) influence of Elon Musk.
Market fundamentals and trading volume trends
Despite recent price fluctuations, Dogecoin remains one of the most actively traded cryptocurrencies, with a 24-hour trading volume hovering around 862 million USD and a market capitalization close to 29.4 billion USD.
Although Dogecoin has dropped 16% in the past week, it has still risen 7% in the past month and 20% so far this year. This moderate and sustained growth reflects Dogecoin's resilience in the face of broader market uncertainty—this is recognized by institutional traders who view Dogecoin as a hedge against volatility.
What is the next step for DOGE?
Looking ahead, Dogecoin's future trajectory largely depends on its ability to secure a daily closing price above the 0.200 USD mark. If this goal is achieved, the next target price will range between 0.215 USD and 0.259 USD, with optimistic forecasts even suggesting that Dogecoin could rise to 0.25 USD by the end of June and potentially reach 0.70 USD by the end of the year.
However, caution is still necessary. The 30-day moving average recently fell below the 200-day moving average, and Dogecoin's relative strength index (RSI) is hovering around 40, suggesting that further consolidation or pullback may occur before the next upward movement.
Nevertheless, sentiment around Dogecoin's value remains optimistic, especially with significant whale entries and loyal community support. Investors are currently closely watching whether this latest momentum can ultimately push Dogecoin out of its sideways consolidation range.
Final thoughts
DOGE price recently surged, highlighting the growing interest from institutional and retail investors. With enhanced technical support and rising social sentiment, Dogecoin seems poised to break through the 0.20 USD threshold.
The cryptocurrency market is always like this; timing is everything. For Dogecoin news, June may very well be the month for this meme coin to shine.