In the past 24 hours, the overall cryptocurrency market has been under pressure and trending downwards, and Dogecoin (DOGE) has not been spared, dipping to a low of $0.1698 today. Nevertheless, DOGE still recorded a 5% increase this week, demonstrating some resilience; from the beginning of the year to now, it has accumulated a 56% increase, outperforming many other meme coins.
Despite a lackluster short-term trend, both technical structure and market sentiment signals indicate that DOGE may be approaching the starting point of the next round of upward movement.
Technical charts are gradually strengthening: the triangle flag pattern may indicate a rebound.
Currently, DOGE's price trend is forming a distinct bullish triangle flag pattern. During a consolidation period of over a month, the price has gradually converged, while trading volume has decreased, revealing a typical 'oscillation compression' structure.
From the indicators' perspective:
RSI (Relative Strength Index) is gradually recovering, breaking free from the previous oversold territory;
MACD double lines are turning upwards, brewing a potential golden cross.
This means that market selling pressure is gradually being released, while bottom buying power is quietly accumulating. If it can break through the upper resistance at $0.175 to $0.18, Dogecoin is expected to迎来 a new round of upward movement, with the first target possibly being $0.20.
Fundamentals and sentiment resonance: DOGE remains the 'king' of the meme track.
In terms of brand recognition and community size, Dogecoin remains a leader in the meme track. Whether it’s Elon Musk’s continued support or its strong community culture and liquidity foundation, both provide support for its long-term value.
Currently, the circulating supply of DOGE is close to 149.94 billion coins, with a total market cap of approximately $25.7 billion, firmly ranking in the top ten of the cryptocurrency market.
In addition, some analysis points out that if DOGE's spot ETF passes review in October this year, it may bring a funding push effect similar to that of Bitcoin ETFs, making the price's attack on the $0.25 to $0.30 range not just a fantasy.
Short to medium-term outlook: August is expected to challenge $0.20, while the long-term view remains at $1.
Overall, in the short term, DOGE shows clear signs of bottoming in the $0.165 to $0.17 range. If it can break out with volume above the mentioned bullish triangle flag pattern, the price is expected to quickly challenge the key resistance level of **$0.185 to $0.20**.
Once market sentiment warms up, coupled with potential ETF expectations, macro benefits, or whale accumulation as catalysts, DOGE is likely to start a main upward wave before mid-August.
From a medium to long-term perspective, the possibility of Dogecoin reaching $1 still exists. Although this journey will not be smooth, its status as a 'meme totem' in the hearts of global investors will continue to empower it.
Conclusion: Don't underestimate the energy of the 'king of memes'.
Dogecoin may not be the fastest-growing coin, but it is the hardest to ignore. After every market turmoil, it always manages to survive and rise again.
Although the current price seems somewhat sluggish, from the structural pattern to technical indicators, they are all releasing rebound signals. For short-term traders, focus on the breakout at $0.175 to $0.18; for long-term investors, this correction may be a good opportunity for low-position layout.
Remember this: 'You may not like DOGE, but you cannot ignore DOGE.'
