Key Insights:
- DOGE’s bullish breakout nears $0.20, a key resistance holding 7% of supply.
- Analysts warn DOGE must clear $0.21 to confirm a trend reversal and rally.
- Glassnode suggests a breakout could send DOGE soaring toward $0.31.
Dogecoin (DOGE) price has surged around 12% in the past week as the broader crypto market recovers. The rally follows Bitcoin’s rise to new highs. Per Dogecoin price prediction, the token now faces strong resistance at $0.20, where 7% of its supply is concentrated.
Analysts believe a breakout above this level could push the price toward $0.31. However, failure to clear resistance may trigger a short-term correction.
Dogecoin Price Prediction: Breaking $0.20 Resistance
Dogecoin price recently broke out of a falling wedge pattern, signaling the potential end of its downtrend. The price has formed four consecutive bullish candles, showing strong buying momentum.
At press time, the top meme coin’s price traded at $0.1973, reflecting an intraday gain of 1.20%. Despite the bullish trend, DOGE struggles to break above the psychological resistance at $0.20.
Market analysts highlight that this level holds a significant amount of supply. Crypto analyst Ali Martinez stated that DOGE must surpass $0.21 to confirm a bullish trend reversal.
A successful breakout could trigger a strong uptrend, while failure may result in price rejection. This Dogecoin price prediction suggests a crucial test for buyers.
DOGE’s Key Supply Zone
On-chain analytics firm Glassnode revealed that 7% of DOGE’s supply is $0.20. This makes it the third-largest concentration zone after $0.17 and $0.07.
According to Glassnode, a breakout above $0.20 could push the Dogecoin price toward $0.31. Many traders who bought DOGE in January 2025 hold positions near $0.20. If demand increases, buyers may push prices higher.
However, resistance at this level could slow down further price movement. Dogecoin price prediction trends indicate traders are monitoring closely. They aim to see if the price gains enough momentum to surpass the key zone.
Technical Indicators Support Bullish Dogecoin Price Prediction
Based on technical aspects, the DOGE price will likely continue its upward trajectory.
The MACD has a bullish crossover after it formed a bullish trend. This indicates rising demand and, thus, the possibility of even higher prices being attained.
The 23.6% Fibonacci retracement level has also been recovered by DOGE, which supports the short-term bullish view. The 50-day EMA stands at point 0.21, which is beneficial to buy.
A bullish breakout above this moving average could increase the price and the number of buyers. If the DOGE price fails in the breakout, it may retest the area before another try. Based on these indicators, the Dogecoin price prediction will rise soon.
DOGE’s Next Move Depends on Market Momentum
Dogecoin’s future price action depends on breaking above key resistance levels. A move above $0.21 could confirm a bullish trend, pushing the DOGE price toward $0.31. However, if sellers defend this zone, the price may temporarily decline.
At this level, $0.17 may act as a support level on the chart in case of a pullback on DOGE. Volume and technical indicators verify the direction the market is likely to move.
This Dogecoin price prediction highlights the importance of the coming days. DOGE’s price movement will determine if the rally continues or loses momentum.