Dogecoin Smashes Through $0.18—$0.20 in Sight After 12% Rally

The meme coin that refuses to die just punched past $0.18—up 12% in 24 hours. Traders now eye $0.20, though skeptics whisper ’pump before the dump’ as usual. No fundamentals? No problem. Welcome to crypto.

Dogecoin price chart Dogecoin price has surpassed the 200 EMA line. Furthermore, it has influenced a positive crossover in the 50 and 100 EMA lines. This marks a trend reversal in the short term, increasing the upside chances.  Additionally, the daily RSI line has entered the overbought region, signaling strong bullish momentum. However, the short-term struggle to exceed the 78.60% Fibonacci level warns of a minor retest.  The current Doge price action hints at an evening star pattern to retest the 61.80% Fibonacci level at $0.1727. However, as the broader market recovers, a post-retest turnaround in Dogecoin will likely prolong the uptrend to the $0.20 psychological level. Analyst Targets $0.195 With Triangle Breakout Crypto analyst Ali Martinez supports the bullish case by highlighting a breakout rally in Dogecoin. According to him, DOGE has broken out of an ascending triangle pattern, with the neckline at $0.1680. Based on Fibonacci projections, Martinez forecasts an upside potential to $0.1950. However, a minor pullback retesting the breakout zone remains possible. https://twitter.com/ali_charts/status/1914742749892399213/ Derivatives Market Expects Continued Uptrend in Dogecoin Over the last 24 hours, Dogecoin’s strong recovery has driven increased activity in the derivatives market. According to Coinglass, DOGE’s open interest has jumped nearly 13%, reaching $1.93 billion.

Dogecoin DerivativesDogecoin Derivatives Additionally, the funding rate has climbed to 0.0097%, reflecting heightened bullish sentiment. In the same period, short liquidations totaled $10.64 million, further fueling the rally. As a result, the derivatives market appears to be anticipating a continued bullish move in Dogecoin prices.