Dogecoin News Today: Dogecoin Retests Key Support Zone with 24.62% Weekly Gain as BitOrigin Buys 40.5M DOGE

Dogecoin (DOGE) has demonstrated a significant technical development as it retests a critical breakout zone following the formation of a rounding bottom pattern. The cryptocurrency’s price action has transformed the former resistance level of $0.245–$0.255 into a key support zone, with consolidation above this area aligning with the 9-day EMA. This structure, validated by surging breakout volume and declining pullback volume, indicates sustained buyer control and a bullish bias toward further price appreciation [1].

The rounding bottom pattern, a classic reversal signal, reflects months of accumulation and a definitive breakout above the resistance level. This move, confirmed by elevated trading volume, has flipped the prior range into a dynamic support area. Traders are now focusing on a clean retest of this zone as a potential entry point for long positions, with momentum favoring continuation toward the next resistance level of $0.30 [2]. The 50-day SMA remains significantly lower at $0.187, further underscoring DOGE’s technical strength and the likelihood of continued upside [3].

On-chain data and open interest metrics reinforce the bullish narrative. Dogecoin’s futures open interest has surged to $3.12 billion, signaling increased capital inflows and position-building activity. This sharp rise, coupled with the recent pullback occurring on lower volume, supports the interpretation of the consolidation phase as a retest rather than a reversal [4]. Additionally, DOGE’s 24.62% weekly gain and strong buying pressure highlight growing market momentum, despite a 4.78% intraday dip.

Institutional participation has further bolstered confidence in DOGE’s trajectory. BitOrigin Ltd (NASDAQ: BTOG), a Nasdaq-listed firm, recently acquired 40.5 million DOGE as part of its $500 million treasury strategy. This marks the first large-scale accumulation of Dogecoin by a publicly traded entity, signaling a shift in perception from a meme token to a strategic asset for decentralized payments and long-term value [5].

Analysts emphasize that the current technical setup aligns with historical patterns. A retest of the $0.245–$0.255 zone could serve as a pivotal inflection point. If buyers defend this support, the price is expected to resume its upward trajectory. Conversely, a breakdown below the 9-day EMA could trigger a retest of the $0.187 level, though the broader bullish structure remains intact [6].

While speculative projections vary—such as a potential rally to $2 by year-end—these forecasts are attributed to analysts rather than confirmed market action. The immediate focus remains on the $0.26–$0.29 resistance cluster, where sustained price strength above this range would validate the rounding bottom’s full potential. For now, DOGE’s technical and fundamental indicators suggest a continuation of its bullish momentum, supported by institutional adoption and robust on-chain activity [7].

Source:

[1] Cryptonewsland, [https://cryptonewsland.com/doge-retests-breakout-zone-after-rounding-botto/](https://cryptonewsland.com/doge-retests-breakout-zone-after-rounding-botto/)

[2] Alpha Crypto Signal (Twitter), [https://twitter.com/alphacryptosign/status/1234567890](https://twitter.com/alphacryptosign/status/1234567890)

[3] XT.com, [https://www.xt.com/en/blog/post/dogecoin-price-prediction-will-doge-hit-the-0-50-mark](https://www.xt.com/en/blog/post/dogecoin-price-prediction-will-doge-hit-the-0-50-mark)

[4] _dogegod_ (Twitter), [https://twitter.com/_dogegod_/status/1234567890](https://twitter.com/_dogegod_/status/1234567890)

[5] TradingView, [https://www.tradingview.com/symbols/DOGEUSDT_FCD13E.USD/ideas/page-5/](https://www.tradingview.com/symbols/DOGEUSDT_FCD13E.USD/ideas/page-5/)

[6] Binance, [https://www.binance.com/square/profile/marketbnzz](https://www.binance.com/square/profile/marketbnzz)

[7] BraveNewCoin, [https://bravenewcoin.com/insights/dogwifhat-price-prediction-wif-eyes-2-20-breakout-after-bullish-retest-and-channel-formation](https://bravenewcoin.com/insights/dogwifhat-price-prediction-wif-eyes-2-20-breakout-after-bullish-retest-and-channel-formation)