Dogecoin Surges 5% Today (June 24) – Is This the Start of a Major Rally or a Price Trap in Disguise?

Updated

June 24, 2025

Gambar Dogecoin Surges 5% Today (June 24) – Is This the Start of a Major Rally or a Price Trap in Disguise?

Jakarta, Pintu News – After a turbulent price movement over the weekend, where Dogecoin briefly dropped below $0.15, the meme-inspired cryptocurrency is now back to testing important technical levels.

Specifically, DOGE is currently retesting its 100-week Simple Moving Average (SMA), which for over a year now has served as a strong support line on the weekly candle timeframe, raising questions about the direction of the next price movement.

Then, how is the current Dogecoin price movement?

Dogecoin Price Rises 5.81% in 24 Hours

On June 24, 2025, Dogecoin saw a 5.81% surge in price over a 24-hour period, climbing to $0.1622 — approximately IDR 2,658. During this time, DOGE hit a low of IDR 2,459 and reached a peak of IDR 2,716.

At the time of writing, Dogecoin’s market cap stands at around $24.31 billion, with trading volume dropping 23% to $1.34 billion within 24 hours.

Dogecoin Retests a Familiar Line of Support

According to Bitcoinist, Dogecoin’s recent prolonged price decline saw it dip below $0.15 on June 23.

Interestingly, Dogecoin fell below $0.16 on Saturday-for the first time since April-continuing a downward trend that has seen the price fall by around 36% in the last 30 days.

Over the weekend, DOGE prices fell to around $0.143 before recovering to the $0.153 range, supported by high trading volumes-more than five times the previous daily average.

Interestingly, this downward price action has led DOGE to re-test the technical indicators that played a significant role in its price movements over the past year. This phenomenon was first highlighted on social media platform X by crypto analyst Trader Tardigrade.

#Dogecoin 100 SMA has supported $Doge for over a year 🔥
It's now retouching this SMA again on the weekly chart.$Doge/W1 pic.twitter.com/xTfOAWSr7k
— Trader Tardigrade (@TATrader_Alan) June 22, 2025

The chart shared by the crypto analyst on X displays an important pattern. DOGE’s weekly candle repeatedly bounced off the 100 SMA(Simple Moving Average) throughout last year, making it an important technical floor for this meme coin.

Whenever the Dogecoin price approaches or slightly drops below this moving average, the price quickly recovers and resumes the uptrend.

Dogecoin’s brief drop to around $0.143-its lowest point since early April-before climbing back above $0.15, is now drawing attention to the 100 SMA, which could again serve as a launching point if bullish sentiment kicks in.

DOGE Price Zones to Watch Out For

Right now, the most important thing is whether Dogecoin can maintain its position above the support zone between $0.145 to $0.151. The quick rebound after the weekend drop to below $0.15 suggests that buyers are still in at this level.

However, if there are signs of weakness, it could invalidate the bullish outlook against the bounce from 100 SMA.

On theupside, successfully reclaiming the $0.153 to $0.16 resistance range with volume confirmation will reinforce the belief that Dogecoin is ready for another rally from the 100 SMA.

If that happens, price history suggests that Dogecoin could repeat the previous bounce pattern from this moving average, and potentially rise to a resistance level between $0.19 to $0.21.

If the current retest results in a successful bounce, projections from the last bounce suggest that DOGE could continue its rise to at least $0.3.

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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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