Dogecoin Defies Gravity: Key Support Holds as Traders Target $0.30 Comeback

Dogecoin’s price floor refuses to crack—despite the usual circus of meme-stock traders and Elon Musk’s tweet-and-retract routine. The OG meme coin clings to long-term support like a diamond-handed degenerate, setting the stage for a potential 30% surge.

The setup: DOGE’s chart paints a familiar story. Every dip below $0.20 gets bought faster than a blue-check verified crypto ’advisor’ can say ’risk management.’ The 200-day moving average? Acting like a trampoline.

Next stop—if the bulls get their way: A clean break past $0.25 could send DOGE racing toward $0.30. Just in time for the next round of ’utility’ announcements that somehow never materialize.

Cynics’ corner: Let’s be real—this is the same asset that once moved because someone photoshopped a Shiba Inu onto the Moon. But in today’s market? That might just be enough.

• Dogecoin surged to $0.18 but currently consolidates at major support levels, eyeing $0.30.
• After bottoming out at $0.1680, DOGE is stabilizing between $0.1716 and $0.1738.
• If DOGE maintains above $0.14 support, a sharp rebound toward $0.30 is possible.

Dogecoin (DOGE) experienced a surge, reaching $0.18 amidst a bullish market rally. However, the momentum has since slowed, and the Dogecoin is now pulling back to critical support levels. Despite this, technical indicators point to the potential for a short-term rebound, with eyes set on a $0.30 target.

Dogecoin Consolidates After $0.1680 Bottoming Out

Dogecoin has stabilized after hitting $0.1680 last week, consolidating between key levels. A breakout could spark a 14% rally, potentially pushing it toward the psychological $0.20 mark.

Dogecoin is now hovering NEAR $0.1730, showing a slight rebound from its recent decline. Coinglass and TradingView trading data indicate DOGE is being consolidated within a narrow band, with the 20, 50, 100, and 200-period exponential averages converging at $0.1716 and $0.1738 on the 4-hour chart. 

Dogecoin (DOGE) continues to ride a crucial ascending trendline that has supported its price action since October 2024. According to crypto analyst Ali (@ali_charts), this technical level may soon be tested again, offering a potential opportunity for bullish investors.

Ali highlighted that a dip to $0.14—where the trendline currently resides—could serve as a springboard for a significant price rebound. If Doge holds this support zone, it might rally toward the $0.30 mark, nearly doubling in value from the projected dip.

The support at the $0.14 price point has so far served as a good support point for Dogecoin’s market, successfully holding back further dips. With the price touching this area again, traders expect a possible accumulation stage that could be followed by a swift upward push toward levels of $0.30, which is almost double DOGE’s current price.

Will DOGE Reclaim the $0.21 to $0.30 Range?

Dogecoin reached a low of $0.164 on May 6 after falling for three consecutive days, dipping briefly beneath the daily SMA 50 of $0.169. But the price immediately bounced back and has remained higher than that key point since April 22. The Relative Strength Index indicates that dogecoin could be trading at levels of around $0.14 to $0.21 for a while, with the bulls trying to nudge it toward $0.21. 

If DOGE manages to cross the 50-day SMA, the price may MOVE up toward $0.21, but sellers are expected to strongly defend that area. A breakout above this resistance could see DOGE targeting $0.2644, aligning with the daily SMA 200. But a failure to maintain above the 50-period moving average may see the price decline, challenging the strong support at $0.14.

Read More: Dogecoin Shows “Diamond Bottom” Formation, Bullish Reversal Likely