Dogecoin News Today: Dogecoin Nears $0.24 Resistance as Analysts Eye Path to $0.70 and Beyond

Traders are closely monitoring Dogecoin (DOGE) as it approaches a critical resistance level at $0.24. Analysts suggest that a breakout above this level could signal the beginning of a major price surge for the top meme coin. According to the price prediction, once DOGE surpasses $0.24, it could trigger a rally that renews bullish momentum in the market[1].

In the past 30 days, DOGE has gained over 11%, outperforming other major meme coins such as Shiba Inu (SHIB) and Pepe (PEPE). Although its market dominance has slightly decreased from around 50% to 46%, it remains the leading meme coin with a $25 billion market cap, far ahead of its closest competitors[1].

A key resistance level to watch is $0.36, highlighted by popular crypto trader Ali Martinez. If DOGE manages to break above this level, it could set the stage for a rally toward $0.70, marking the highest price in nearly four years. Martinez also noted that a breakout past $0.36 could eventually lead the price toward $1, a level that would represent a massive surge in DOGE’s valuation and elevate it to the fourth-largest cryptocurrency by market cap[1].

From a technical perspective, DOGE has shown signs of a healthy pullback after a recent 3.4% decline in the past 24 hours. Trading volume remains strong at $2.2 billion, indicating that the selling pressure is limited. The coin appears to be forming a breakout from a descending channel established after the November–December 2024 peak. Analysts suggest that the next key target lies near $0.48, where a retest could occur before the next major move[1].

Resistance at $0.49 may act as a brief roadblock, but a successful breakout there could open the door for DOGE to test the $1 threshold for the first time in its history. This potential move would not only redefine DOGE’s role in the crypto market but also reflect the renewed enthusiasm for meme coins[1].

While DOGE is the focus of much attention, traders are also exploring new opportunities, including Maxi Doge (MAXI), a DOGE-inspired project designed to capture the bullish sentiment of the current market. In just days, MAXI’s presale has raised over $740,000, signaling strong investor interest in the new token[1].

Source: [1] Dogecoin Price Prediction: One Resistance Level Stands Between DOGE and a Mega Rally (https://cryptonews.com/news/dogecoin-price-prediction-one-resistance-level-stands-between-doge-and-a-mega-rally/)