Dogecoin Teeters at $0.16—Is a Skyrocketing Surge to $0.20 Imminent?

Updated

April 22, 2025

Gambar Dogecoin Teeters at $0.16—Is a Skyrocketing Surge to $0.20 Imminent?

Jakarta, Pintu News – On April 21, Dogecoin recorded a 7% surge, challenging an important resistance line. Not only that, buyers are optimistic about pushing the price towards $0.20, supported by increasing long positions and the overall recovery of the crypto market.

As the market revived after the Easter holiday, Bitcoin managed to break above the $87,000 level. Amid this positive momentum, the meme coin segment also jumped nearly 4%, with the market capitalization reaching $47.45 billion.

Among the main meme coins, Dogecoin stands out with a gain of almost 4% in the last 24 hours, successfully breaking the $0.16 price barrier.

So, how is the Dogecoin price moving today?

Dogecoin Price Rises 0.26% in 24 Hours

As of today, April 22, 2025, the price of Dogecoin (DOGE) has seen a slight uptick, rising by 0.26% over the past 24 hours. DOGE is currently trading at $0.1602, which is approximately IDR 2,697. During this period, Dogecoin reached a low of IDR 2,642 and a high of IDR 2,739.

At the time of writing, Dogecoin’s market cap stands at around $23.84 billion, with trading volume rising 22% to $961.3 million within 24 hours.

Dogecoin Price Analysis: Aiming for a Trendline Breakout Toward $0.20

On the 4-hour chart (4/21/25), Dogecoin’s price action is showing signs of a bullish recovery, with the price now testing an important resistance trend line. This rise has successfully pushed the price past the 50 and 100 Exponential Moving Average (EMA) levels.

Moreover, the buyers also managed to break the 38.20% Fibonacci retracement level at $0.1597. This recovery started with a Morning Star pattern, followed by five consecutive bullish candles that pushed the price up by almost 7%.

This rise triggered a positive crossover between the MACD line and the signal line. Not only that, there is a potential golden crossover between the 50 EMA and 100 EMA, which reinforces the bullish sentiment.

Currently, Dogecoin is facing resistance at the short-term downtrend line which temporarily limits further gains. However, if the overall market sentiment improves, an additional momentum boost and increased market enthusiasm could push the DOGE price higher.

In that scenario, Dogecoin has a chance to break the strong resistance area around $0.1680, formed by the confluence of the 200 EMA and the 50% Fibonacci level.

If the rally continues and is able to pass this crucial point, Dogecoin’s uptrend could potentially take it to the price of $0.20, which translates to a gain of around 25%.

Conversely, in the event of a downward reversal, the Dogecoin price is likely to test the psychological support area at $0.15 again.

Bullish Sentiment Drives Surge in Dogecoin Derivatives

As market expectations for Dogecoin’s breakout potential increased, interest in DOGE derivatives also surged. Open interest has increased by 3.74%, now reaching $1.67 billion.

Additionally, the open interest-weighted funding rate strengthened again to 0.0032%, signaling a resurgence of bullish sentiment in the market. In the last 36 hours, the long/short ratio in DOGE derivatives has also seen a significant spike.

Long positions rose from 46.16% to 51.16%, pushing the long-to-short ratio up to 1.0475.

While this figure still indicates a relatively neutral market outlook, the sharp increase in long positions indicates growing optimism about the chances of a Dogecoin price recovery.

Dogecoin’s Bullish Rally Potentially Hindered by $15 Million Token Unlocking

Based on data from Tokenomist, Dogecoin will experience a large number of token unlocks.

From April 21 to April 28, approximately 96.52 million DOGEs – equivalent to $15.32 million – will be released to the market.

This represents about 0.06% of the total Dogecoin supply in circulation. With over $15 million DOGE entering the market every day during this period, this surge in supply could potentially be a drag on the ongoing bullish rally.

According to Tokenomist, several major token unlocks (over $5 million per event) are scheduled in the next 7 days, including VENOM and ALT. Additionally, significant linear daily unlocks (over $1 million per day) will occur for tokens such as SOL, WLD, TRUMP, TIA, DOGE, TAO,… pic.twitter.com/ATCCFqsIeg
— Wu Blockchain (@WuBlockchain) April 21, 2025

That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.

Follow us on Google News to get the latest information about crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu Crypto via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference: