DOGE Price Outlook

DOGE popularity has recently seen a rise in its popularity due to DOGE ETF filings by asset managers such as 21Shares and Osprey Funds.

On the daily chart, Dogecoin appears to have formed a falling wedge pattern since early February. The breakout seems to be occurring near $0.18, and given that the wedge’s widest point spans the $0.35 to $0.40 range, this could project a target between $0.53 and $0.58.

The MACD on the 4-hour chart supports the bullish case. It has just flipped positive, with the MACD line crossing above the signal line. A clear uptick in histogram bars further confirms the bullish bias.

Meanwhile, the RSI currently sits around 62, approaching overbought territory. While this reflects strong buying pressure, short-term traders should be cautious, as overheated rallies lead to corrections.

Bollinger Bands show DOGE price breaking above the upper band, suggesting potential overextension. If the price holds sustainably above the band with increasing volume, it could signal strength. However, a re-entry into the bands could result in a short-term retracement.

Meanwhile, popular crypto analyst Ali Martinez recently noted a trendline on the DOGE weekly price chart since November 2023. He predicts a potential rebound to $0.30, given the meme coin dips to $0.14.

Traders could see some resistance around $0.20, followed by $0.23 and then the December high at $0.46.