Dogecoin Price Prediction: 48% Price Explosion on the Horizon!

Jakarta, Pintu News – Dogecoin remains stable above $0.20 and has the potential to rise up to 48% as technical patterns emerge indicating a bullish trend. Data from the derivatives market and key EMA indicators point to a possible breakout.

While Bitcoin’s price remains above the $109,000 level, the meme coin’s market capitalization broke through the $72 billion mark again. Leading this short-term recovery is Dogecoin, which recorded a 4% gain in the last 24 hours.

With Dogecoin continuing to hold above the psychologically important $0.20 level, the chances of a breakout from the inverted head-and-shoulders pattern remain open.

Dogecoin Price Prediction: Dogecoin Price Analysis

On the daily chart (26/5), Dogecoin formed a bearish engulfing candle pattern on May 23, reflecting a decline of 8.29%. This decline tested the potential breakout of the inverted head-and-shoulders pattern, as the price pulled back from the long-term resistance trendline.

Read also: Dogecoin Price Dips on May 27: Traders Scoop Up $16 Million in DOGE Amid Market Correction!

Nonetheless, Dogecoin is still holding above the 23.60% Fibonacci retracement level at $0.2179, which is reinforced by the price rejection at the lower level.

On Sunday, a long-tailed doji candle was formed, and currently Dogecoin is trading at $0.2266, showing a daily gain of 0.82%.

Furthermore, the price remains above the 200-day EMA, which aligns with the 23.60% Fibonacci level. Despite the short-term weakness, the underlying bullish sentiment still favors a potential breakout rally.

The 50-day EMA and 100-day EMA lines also point to a possible bullish crossover. Meanwhile, the RSI indicator remains flat above its midpoint, suggesting a potentialbullish reversal with room for further growth.

Dogecoin Price Prediction: DOGE Target Price

Reported by Crypto Basic (26/5) Based on Fibonacci levels and the inverted head-and-shoulders pattern, a successful breakout could push the Dogecoin price towards the $0.3830 level, which represents a potential upside of 48%.

However, if the price closes daily below the 23.60% Fibonacci level, then this bullish scenario will be canceled.

In that situation, the nearest support is at the 50-day EMA line around $0.20, and the next support is at the $0.14 level.

Dogecoin Derivative Data Supports Bullish Signals

Although Dogecoin is at a crossroads due to the failure of the short-term uptrend, the derivatives market still shows optimism.

Read also: List of Top Altcoins Under $1 Worth Collecting for a 10x Surge in 2025

According to data from Coinglass, Dogecoin open interest increased by 7.44%, driven by an overall market recovery that pushed the total value to $2.70 billion. This indicates increased trader activity on Dogecoin, which was also supported by an increase in the funding rate to 0.0081%.

The increase in open interest and funding rate reflected the growing bullish sentiment among derivatives traders who were anticipating a potential breakout rally. Options volume also surged by 60%, with open interest in options reaching $300,000.

In the past 12 hours, Dogecoin’s price recovery has triggered a $2.4 million liquidation of short positions, while 24-hour liquidation data remains balanced.

Overall, data from the derivatives market continues to support the bullish narrative, reinforcing the potential for a breakout.

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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.

Reference:

• The Crypto Basic. Dogecoin Eyes 48% Breakout As Bullish Momentum Rebuilds. Accessed on May 27, 2025