Dogecoin Bulls Charge Back—Is a DOGE Reversal Imminent?

Meme coin traders are piling back into Dogecoin as bullish momentum returns. After weeks of sideways action, DOGE suddenly ripped 12% in 24 hours—classic ’buy the rumor’ behavior before Elon tweets something cryptically dog-related.

Key levels to watch: If DOGE holds above $0.15, the path clears toward $0.20. But let’s be real—this is the same asset that once moved 20% because someone photoshopped a Shiba Inu onto the Moon. Technicals matter less than meme magic here.

Wall Street analysts are predictably scrambling to justify the move with ’increased utility’ narratives. Meanwhile, the rest of us remember this is a coin whose whitepaper was literally a joke. Never change, crypto.

Source: TradingView

This sharp recovery is a strong technical signal, often interpreted as a validation of bullish demand.

DOGE market is leaning bullish

Backing the price rally is the memecoin’s Weighted Funding Rate, which has been mirroring an intriguing trend. Over the last three days, the Funding Rate has shown a consistent increase.

This means that more market participants are willing to pay a premium to keep their long positions open in an anticipation for further price gains.

The rise in DOGE’s Funding Rate always reflects positive sentiment in the Futures market, and also a shift in bias — from cautious Optimism to more confident accumulation.

In most cases, rising Funding Rates, paired with price gains, indicate that bulls are gaining ground and short-sellers are retreating from the market volatility.

Source: Coinglass

What’s next for the memecoin?

Despite the strong start, it is crucial for DOGE investors to monitor whether bulls can maintain control. A dip in volume or a cooling of the Funding Rate could hint at fading bulls’ interest.

Conversely, if Dogecoin continues to hold above its demand zone while climbing steadily, the reversal case gains more weights.

In all, DOGE appears to be at a critical turning point. The next few days will be key in determining whether this is a sustainable trend shift or just another short-lived rally.