Dogecoin News Today: Dogecoin Rallies 63% but Faces 5.85% 24-Hour Drop as $0.227 Support Tested

Dogecoin (DOGE) has surged 63% in recent trading, climbing from $0.17587 to a peak of $0.28667, but the price is now consolidating near the critical $0.227 support level. A break below this threshold could expose the token to further downside, with $0.18 identified as the next potential area of demand. As of the latest data, DOGE traded at $0.225195, marking a 5.85% decline over 24 hours amid increased short-term profit-taking activity. Trading volume reached $3.5 billion, reflecting heightened trader interest in securing gains from the recent rally [1].

Technical indicators present mixed signals. A hidden bullish divergence emerged on the 4-hour chart, characterized by a higher low in price while the Relative Strength Index (RSI) formed a lower low. According to analyst Trader Tardigrade, such patterns may indicate a potential price recovery but are not guaranteed outcomes [2]. The RSI remains neutral, leaving market participants waiting for clear price action confirmation before expecting a strong rebound. If DOGE reclaims the $0.245 resistance level, it could test $0.268. However, sideways movement or further declines remain probable until this threshold is surpassed.

Long-term holders appear to remain steadfast despite the recent volatility. The realized profit/loss ratio has risen sharply, indicating that short-term traders are locking in gains and contributing to the current pullback. Meanwhile, the Liveliness metric—tracking wallet activity—has declined, suggesting that experienced holders are retaining their positions. This behavior has historically provided stability during prior corrections, though the current pressure on the $0.227 level raises concerns about further selling if support fails [1].

Analysts warn that a sustained break below $0.227 could trigger a cascade of short-term liquidation, potentially driving DOGE toward $0.198 or lower. While the 4-hour divergence offers a glimmer of hope for a recovery, the absence of a decisive move above key resistance levels underscores the uncertainty. Market watchers emphasize the importance of monitoring volume and order flow for clues about the next directional bias.

Source: [1] [DOGE Surges 63%, But Can It Hold $0.227?] [https://coinmarketcap.com/community/articles/6883cf78a921482b9c251202/] [2] [Trader Tardigrade Analysis on Hidden Divergence] [https://coinmarketcap.com/community/articles/6883cf78a921482b9c251202/]