Is Dogecoin Poised for a Breakout? Experts Eye $0.32 Target!

Updated

April 29, 2025

Gambar Is Dogecoin Poised for a Breakout? Experts Eye $0.32 Target!

Jakarta, Pintu News – Dogecoin is currently trading above its 50-day EMA, indicating a trend reversal.

If it manages to break above the $0.20 level, Dogecoin could potentially head towards the resistance area in the range of $0.28 to $0.30.

Meanwhile, Bitcoin managed to stay above the $94,000 level, and meme coins are starting to prepare for a major trend reversal. Dogecoin, which is the largest cryptocurrency in the meme coin category, is currently trading at $0.1812 with a market capitalization of $27 billion.

In the past week, the Dogecoin price has risen by almost 12%. With Dogecoin continuing to hold above the $0.18 level, will the meme coin record a breakout rally towards $0.20?

Dogecoin Price Rises 0.17% in 24 Hours

As of April 29, 2025, Dogecoin (DOGE) has posted a modest 0.17% gain over the past 24 hours, currently trading at $0.1781, or approximately IDR 2,990. During this period, DOGE hit a low of IDR 2,939 and climbed to a high of IDR 3,080.

At the time of writing, Dogecoin’s market cap stands at around $26.48 billion, with trading volume rising 15% to $1.25 billion within 24 hours.

Dogecoin Price Analysis

On the daily chart (4/28/25), the Dogecoin price trend shows a strong decline after the rally that occurred in December 2024. Since then, the price has dropped almost 60% from its high of $0.4846.

The decline formed a local low at $0.1410 before signaling a potential trend reversal. Last week, Dogecoin’s price recovery managed to break the 50-day EMA, indicating a possible change in trend direction.

On the intraday candle, there was a rejection of the price lower from the 24-hour low at $0.1738, with an intraday recovery of 1%. In addition, the MACD line and signal line showed positive flow, crossing the zero line.

However, the short-term consolidation near the average line led to a slight decrease in trend momentum. This is reflected by the decline in the positive histogram, which indicates a potential negative crossover.

In addition, the price recovery has passed the highest trading volume area since December 2024, which is around $0.17. As long as Dogecoin stays above $0.17, the uptrend will encounter the next important volume zone around $0.20.

If it is able to break this psychological level, the next high volume zone is at $0.32, which suggests more upside potential if the uptrend is able to break above $0.20.

DOGE Price Target

If Dogecoin manages to bounce off the 50-day EMA, the uptrend is expected to face strong resistance around the $0.20 psychological level. This level coincides with the 23.6% Fibonacci level as well as the declining 100-day EMA.

If it manages to cross the area, buyers will likely aim for the psychological level of $0.30 and also the 50% Fibonacci level at $0.28.

Instead, important support for Dogecoin is currently at $0.17, with the next support around the psychological level of $0.15.

Analysts Set Target of $0.32 as Dogecoin Exits Falling Wedge Pattern

Supporting the chances of a bullish trend in Dogecoin, crypto analyst Jonathan Carter predicts a big surge in the future.

He noted a small consolidation on Dogecoin’s two-day price chart before a potential major rally begins.

#DOGE

Dogecoin is consolidating above the broken falling wedge pattern on the 2D chart and is ready to go higher📈

The first target has been reached so expect a continuation with targets at $0.23, $0.29 and $0.34🚀 pic.twitter.com/xJGUJhm1e5
— Jonathan Carter (@JohncyCrypto) April 27, 2025

After successfully breaking out of the falling wedge pattern, the current uptrend is still stagnating around the $0.18 level. Furthermore, the analyst expects this uptrend to target prices at $0.23, then $0.29, and eventually reach $0.34.

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*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.

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