Dogecoin News Today: Dogecoin Surpasses $0.24 Threshold With 2.5% 24-Hour Gains as Bullish Technical Signals Intensify

Dogecoin (DOGE) has shown a series of technical signals suggesting a potential upward trend, with recent price action and on-chain activity reinforcing a bullish narrative. The cryptocurrency retested a descending trendline on the daily chart, stabilizing above the $0.24 level—a critical threshold that previously acted as resistance but now appears to function as support. This shift marks a potential breakout, with DOGE’s price reaching $0.242 at press time, a 2.5% increase in the past 24 hours. The trendline’s transformation from a ceiling to a floor indicates growing buyer confidence, particularly as the price holds above short-term retrace levels near $0.23 [1].

Technical indicators further strengthen the case for a bullish outlook. A hidden bullish divergence was observed on the daily RSI chart, where price made a higher low while the RSI formed a lower low. This pattern, noted by crypto analyst Trader Tardigrade, suggests momentum remains intact despite declining velocity. Additionally, the RSI has exited the overbought zone, reducing immediate resistance for further upward movement. On the 4-hour chart, two bullish divergence patterns emerged between July 24 and 26—a hidden bullish divergence followed by a regular bullish divergence—within the same price zone. These signals, occurring in proximity, amplify the likelihood of a sustained trend reversal [1].

On-chain data adds another layer of validation. Glassnode reported a decline in active addresses to 58,688 as of July 27, down from over 100,000 in mid-July. While reduced transaction activity might typically signal caution, DOGE’s price resilience above $0.24 suggests accumulation by larger, less active holders. Analyst Ali Martinez highlighted that the current price zone—$0.15 to $0.22—has historically triggered sharp rallies, including the 2021 surge to $0.7335. A breakout above $0.25 could open the path to $0.36, where prior accelerations occurred [1].

However, the technical case is not without risks. A July 17 report noted sideways trading near $0.2382, with mixed directional cues. Analysts advise monitoring volume spikes and price action for confirmation of a breakout, as false signals could lead to sharp reversals. DOGE’s correlation with Bitcoin also introduces uncertainty; broader BTC trends could influence its trajectory. For instance, a rally in Bitcoin might amplify gains, while a downturn could introduce volatility.

Recent performance reflects cautious optimism. Over the last 24 hours, DOGE gained 2.5%, trading at $0.2368 with a market capitalization of $35.58 billion. Daily trading volumes, however, have dipped to $2.27 billion, a potential sign of consolidating activity. Analysts caution that while the technical setup appears favorable, DOGE’s volatility and reliance on retail sentiment necessitate vigilance. Strategies such as long entries above the 50-period moving average on the H4 chart and stop-loss placements below recent swing lows are recommended for risk management [1].

Long-term projections remain speculative. Some analysts, citing historical cycles, suggest a 2030 target of $0.00010, though macroeconomic conditions and adoption rates will play decisive roles. For now, the focus remains on near-term catalysts, with traders advised to balance technical analysis with fundamental developments. The convergence of trendline breakouts, pattern formations, and on-chain metrics creates a compelling case for cautious optimism. Yet, as with any volatile asset, unexpected macroeconomic shifts or market sentiment shifts could disrupt the trajectory [1].

Source:

[1] [Dogecoin Looking At Bullish Price Action, Watch Out For These Signs](https://coinmarketcap.com/community/articles/688703cb092f266c0faa5fd2/)

[2] [Where Dogecoin Could Be by 2025, 2026, and 2030](https://finance.yahoo.com/news/doge-price-prediction-where-dogecoin-093029168.html)

[3] [Dogecoin (DOGE) H4 Chart Signals Bullish Crossover](https://blockchain.news/flashnews/dogecoin-doge-h4-chart-signals-bullish-crossover-key-trading-opportunity)

[4] [Dogecoin Aims for $0.42 Breakout as Double Bottom Fuels Rally](https://bravenewcoin.com/insights/dogecoin-doge-price-prediction-dogecoin-aims-for-0-42-breakout-as-double-bottom-fuels-rally)

[5] [DOGE Price Prediction Gets Stuck as Sideways Trading Takes Over](https://thetradable.com/crypto/-doge-price-prediction-gets-stuck-as-sideways-trading-takes-over-2)

[6] [Dogecoin Price Prediction: DOGE Prints Majorly Bullish Weekly W Formation](https://coincentral.com/dogecoin-price-prediction-doge-prints-majorly-bullish-weekly-w-formation-1-the-new-baseline/)