Dogecoin Teases 24% Surge—Here’s the Make-or-Break Zone

Memecoin’s latest pump sparks deja vu—will DOGE defy gravity or faceplant like a overleveraged hedge fund? Key levels to watch: $0.18 as support, $0.22 as the bull trap danger zone. Traders either riding the hype wave or bracing for the inevitable ’buy the rumor, sell the news’ exit scam.

Source: Coinglass

This substantial outflow indicates potential accumulation and has the potential to create buying pressure and drive a further upside rally, as sentiment across the crypto landscape appears to be improving.

Traders’ eyes on long bets 

In addition to the exchange outflows, another major bullish signal comes from the DOGE Long/Short ratio. At press time, this ratio stood at 1.116, indicating bullish market sentiment among traders.

This metric not only reflects positive sentiment but also shows that traders are favoring long positions over short ones, a trend that typically appears when the ratio moves above 1.

Source: Coinglass

When combining these on-chain metrics, it appears that bulls have been dominating the asset and may be supporting Doge in shifting its bearish trend.

Dogecoin’s technical analysis and key levels 

According to AMBCrypto’s technical analysis, DOGE has broken out from a descending trendline that has acted as strong resistance since January 2025.

Source: TradingView

DOGE has struggled with this trendline, facing selling pressure and price declines upon reaching this level. However, the recent breakout suggests that bearish sentiment may start to shift.

If DOGE closes a daily candle above $0.165, it could rise by 24%, reaching $0.207 in the coming days. Despite this bullish breakout, the memecoin remains below the 200-day Exponential Moving Average (EMA) on the daily timeframe.

This indicates that DOGE is still in a downtrend, with bears maintaining dominance.

Meanwhile, DOGE’s Relative Strength Index (RSI) stands NEAR 50, suggesting room for growth. It is neither overbought nor oversold, which could allow DOGE to gain further bullish momentum.

At press time, DOGE was trading near $0.1643, marking a 1.50% price surge in the past 24 hours. During this period, trading volume increased by 15%, showing stronger market participation than the previous day.