Dogecoin News Today: Dogecoin Surges 9% in 24 Hours, Breaks $0.25 Resistance

Dogecoin (DOGE) has recently surged past the $0.25 resistance level, confirming a long-standing breakout pattern. This move is significant as it indicates strong market momentum and volume, with the token trading at $0.27 at the time of reporting. Over the last 24 hours, DOGE has climbed by 9%, bringing its seven-day gain to 34%. Traders are now closely watching the $0.25 level to see if it holds as short-term support.

Technically, both the price and the Relative Strength Index (RSI) are forming higher highs, indicating strong market movement. However, the RSI is currently in the overbought zone, suggesting that a brief pullback may follow. This pullback could provide support for a more sustained move later, with holding the $0.25 level during any short-term dip being crucial.

If support holds, the next price targets for DOGE are set at $0.31 and $0.42. These levels are based on previous chart resistance and recent trade volume clusters. Another analysis points to $0.33 and $0.40 as likely areas of interest, with these levels remaining valid while the price stays above the support floor.

In the last two days, large wallets have accumulated over 1 billion DOGE, valued at more than $250 million at current prices. This increase in holdings suggests confidence from major players during the breakout phase. Additionally, leverage activity has picked up, with one whale closing a long DOGE trade at the local high with profits exceeding $2 million. The trader then opened another position of more than $21 million that had 10x leverage, indicating high anticipation of further price changes.

Dogecoin has also reclaimed its 200-week moving average, adding to the bullish sentiment among traders. This technical recovery suggests growing momentum and chart strength around the $0.25 level. The cryptocurrency has gained over 22% in the past week, and if current momentum holds, traders may soon look for confirmation of the double bottom pattern’s completion. The chart is also showing higher lows and rising interest from buyers, further supporting the bullish outlook.

If Dogecoin holds above $0.25, it could signal a major bullish move, with short-term targets set at $0.30 and a potential reach of $0.42 by September. This breakout mode indicates a strong upward trend, with analysts expecting a steady climb toward $0.35–$0.42 if DOGE breaks past resistance at $0.26. The formation of a double bottom pattern, combined with the recent price movements, suggests that the cryptocurrency may be poised for a significant upward move. However, it is important to remember that the cryptocurrency market is highly speculative, and prices can be influenced by a variety of factors, including market sentiment, regulatory developments, and technological advancements. Investors should approach the market with caution and conduct thorough research before making any investment decisions.