Dogecoin (DOGE) Upside Potential: Is It Time to Invest?

Jakarta, Pintu News – Dogecoin (DOGE) has recently shown a significant increase, crossing the $0.20 zone against the US Dollar. Currently, DOGE is in a consolidation phase and may try to break above $0.2120.

Dogecoin (DOGE) Price Increase

Dogecoin (DOGE) started a fresh rise from the $0.1880 zone, following in the footsteps of Bitcoin (BTC) and Ethereum (ETH). DOGE managed to cross the $0.1950 and $0.200 resistance levels. Market participants even managed to push the price past the $0.2120 resistance.

The price peak was recorded close to the $0.2220 resistance, with the highest price at $0.2205 before starting to correct. Currently, the Dogecoin (DOGE) price is above the $0.2020 level and the 100-hourly simple moving average. There is also a bullish trend line forming with support at $0.2060 on the hourly chart of the DOGE/USD pair.

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Potential Resistance and Support

The immediate resistance on the upside is near the $0.2120 level. The first major resistance for the bulls may be near the $0.2150 level. The next major resistance is near the $0.2220 level. A close above the $0.2220 resistance could push the price towards the $0.2320 level. Further upside could direct the price towards the $0.250 level, with the next major stop for the bulls at $0.2650.

Possible Price Corrections

If the price of Dogecoin (DOGE) fails to rise above the $0.2120 level, there could be a downward correction. Initial support on the downside is near the $0.2060 level or the trendline zone. The next major support is near the $0.2040 level or 50% Fibonacci retracement level of the upside move from $0.1885 swing low to $0.2205 high. The key support is at $0.20. In case of a downward break below the $0.20 support, the price could drop further. In that case, the price may drop towards $0.1950 or even $0.1880 levels in the short term.

Technical Indicators

• MACD Hourly
• MACD for DOGE/USD is currently gaining momentum in the bullish zone.
• Hourly RSI (Relative Strength Index)
• The RSI for DOGE/USD is currently above the 50 level.

Conclusion

Dogecoin (DOGE) shows significant potential for further upside, depending on its ability to maintain its current momentum. Investors and traders should monitor the support and resistance levels mentioned to take informed decisions on investing in the cryptocurrency market.

Also Read: Bitcoin Price Breaks ATH, 5 Smart Investment Strategies to Deal with Market Volatility

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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 are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Dogecoin (DOGE) Struggles Below $0.220, Can Bulls Save the Day?. Accessed on July 18, 2025