Dogecoin Price Surges 5% Amid Bullish Derivatives Momentum

Dogecoin's price is currently hovering near $0.171, having briefly spiked above $0.175 earlier this week. The broader structure remains compressed, with DOGE pushing off its $0.16 support level with a strong impulse move. However, it now faces significant overhead resistance near $0.175–$0.180. The next 24–48 hours could prove critical for price direction.

Dogecoin's price has climbed over 5% from the July 3 low of $0.162, with bulls attempting to reclaim ground above key trendlines. On the 4-hour chart, DOGE has broken above a falling wedge structure and is now consolidating just beneath the upper Bollinger Band at $0.174, while the mid-band supports at $0.1665. Parabolic SAR dots have flipped beneath price action, confirming a shift toward bullish control in the short term.

From a Smart Money Concepts (SMC) perspective, DOGE has maintained structure above the latest BOS level near $0.158 and is now retesting a prior CHoCH zone between $0.170–$0.175. Price is trading within a tight liquidity pocket, indicating that bulls are cautiously attempting to absorb supply near a historical resistance band.

The recent rally in Dogecoin price is largely fueled by growing momentum in the derivatives market. According to Coinglass data, DOGE volume surged 275% in the last 24 hours, with open interest climbing nearly 8%. The Binance top trader long/short ratio stands at 2.74, while the overall long bias across exchanges is above 2.0 — reflecting firm bullish expectations.

On the 30-minute chart, RSI is retreating from overbought territory and now sits around 45.2, signaling a cool-off but not a full reversal. MACD on the same timeframe is showing a weakening bullish crossover, with the histogram contracting — suggesting consolidation after the sharp push from sub-$0.165 levels. The DMI on the 4-hour chart shows a bullish ADX structure, with +DI leading and rising. Meanwhile, the Supertrend indicator has flipped bullish around $0.1627, with DOGE holding well above that level since the July 4 breakout.

The Bollinger Bands on the 4-hour chart are expanding following a prior squeeze. DOGE briefly tagged the upper band near $0.176 before pulling back toward the mid-line. This classic volatility breakout setup implies that the next move could be significant if volume sustains. The 20/50/100/200 EMAs are now converging between $0.1668 and $0.1734. This EMA compression suggests a volatility breakout may be building. On the 30-minute chart, price is trading slightly below the VWAP ($0.175) and SAR dots are again appearing above price, signaling some intraday rejection. However, unless DOGE breaks below the $0.166–$0.168 zone, the structure remains favorable for buyers.

Longer-term trendlines from the daily chart also show DOGE testing a descending resistance line around $0.175 — a breakout from this zone could unlock upside momentum toward the $0.19–$0.20 levels, where prior liquidity resides. Dogecoin price remains compressed within a short-term ascending channel and is approaching a decision point around $0.175. If bulls can reclaim this zone with volume and close above it, the next target lies at $0.185 and then $0.198. On the downside, if rejection continues, immediate support is seen at $0.166, with a deeper pullback opening the door to $0.158 — which served as the last BOS zone on the daily SMC structure.

With derivatives data showing a long-heavy skew, and the Supertrend and EMAs turning constructive, momentum appears cautiously in favor of bulls. However, DOGE must clear $0.175 decisively to confirm the breakout. The next 24–48 hours will be crucial in determining whether Dogecoin can sustain its upward momentum or face a potential pullback. The current technical indicators suggest a cautious optimism, with key resistance and support levels closely monitored by traders.