Dogecoin Eyes $0.20: Meme Coin Revival or Another False Dawn?

Dogecoin bulls are back—DOGE surges 12% this week as traders bet on a return to the $0.20 psychological threshold. But with whales dumping $30M in profits last month, is this just another pump before the dump?

Technical indicators flash green: The 50-day SMA just crossed bullish, and RSI sits at a comfy 62. Retail FOMO meets institutional skepticism—classic crypto theater.

Meanwhile, Bitcoin ETFs soak up all the oxygen (and capital). Meme coins? Still trading on Elon tweets and Reddit hype. Some things never change—except your portfolio balance.

DOGE Price Displays A Sideways Action This Week

Over the past 24 hours, the Dogecoin memecoin has dropped approximately 2% with a trading volume of $612.49 million, a change of -41.19%. Moreover, with a market capitalization of $26.44 billion, its market dominance has dropped to 0.8898%.

The technical indicator SMA records a bearish convergence in the daily time frame. This highlights an increase in the selling pressure for the largest memecoin in the crypto space.

On the other hand, the Moving Average Convergence Divergence (MACD) displays a neutral trend. However, the 12 & 26-day averages record a constant rise in the Dogecoin price chart, suggesting increased volatility during the upcoming time.

Will Dogecoin Price See Revival Soon?

If the crypto bulls take charge, the price of Dogecoin token could retest its immediate resistance of $0.20. Moreover, if the bullish market sentiment intensifies, this could result in it heading toward its upper price target of $0.243 in this month.

However, if the bears dominate the market, the Doge coin price may drop toward its important support level of $0.1645. Furthermore, if the bulls fail to sustain momentum at that point, it could plunge toward its crucial support level of $0.12975 during the upcoming week.

Also Read: Dogecoin price prediction 2025: DOGE Set For Gains In May?