Dogecoin Inches Up Today — Is a Massive Breakout to $0.33 Just Around the Corner?

Jakarta, Pintu News – The meme coin market is experiencing a resurgence, fueled by the surge in the overall crypto market. The sector’s total market capitalization has surged to a 30-day high of $85.28 billion.

Dogecoin (DOGE), the meme asset with the largest market capitalization, led this rally by recording the highest gain among the top five meme coins over the past seven days.

Dogecoin Price Rises 0.18% within 24 Hours

As of July 22, 2025, Dogecoin saw a modest 24-hour gain of 0.18%, trading at $0.2709, which is approximately IDR 4,430. During the same period, DOGE hit a low of IDR 4,343 and climbed to a high of IDR 4,658.

At the time of writing, Dogecoin’s market cap stands at around $40.68 billion, with trading volume dropping 3% to $5.94 billion within 24 hours.

Read also: Bitcoin Holds at $117K Today (July 22) — Are the Whales Gearing Up for the Next Big Move?

DOGE Rises 32%, But Long-Term Holders Quietly Start Selling

On July 21, DOGE surged 32% over the past week and was trading at $0.2743.

This double-digit price increase comes despite on-chain data showing a sharp increase in the Liveliness metric-an indicationthat long-term holders (LTHs) are actively moving or selling their assets.

According to data from Glassnode, DOGE’s Liveliness metric saw an increase as the price spiked over the past week. On July 20, the metric stood at 0.706, up 0.14% compared to July 13.

Liveliness measures the movement of long-hold tokens by calculating the ratio between coin days destroyed and total coin days accumulated. If the number goes down, it indicates that long-term holders are withdrawing their assets from exchanges for storage, which is usually a signal of accumulation and can push the price up.

Conversely, if Liveliness goes up, it indicates that more previously dormant tokens are starting to be moved or sold-often a signal of profit-taking by long-term holders.

Short-term Investors Push DOGE Price to Highest Level Since February

Interestingly, despite selling pressure from long-term holders (LTHs), DOGE prices have remained resilient and continue to move up with no signs of a reversal in the near future.

This indicates that short-term holders – often referred to as paper hands – are themain drivers of the current price rally, capitalizing on the positive momentum of the crypto market in general.

DOGE’ s Aroon Up technical indicator, which is currently at 100%, also supports this bullish momentum signal.

The Aroon indicator is used in technical analysis to identify the direction and strength of a trend by measuring how much time has passed since the price reached its most recent high or low.

Read also: Crypto to Watch This Week: Kaito, Avalanche, and Pi Network Ready to Explode?

When the Aroon Up line is at or near 100%, it indicates that recent price action continues to print new highs, signaling strong upward momentum. This is true for DOGE, which is now trading at price levels last seen in February.

With the Aroon Up position at 100%, it suggests that DOGE is consistently printing new highs in every period within the timeframe analyzed by the Aroon indicator-suggesting a very strong and stable uptrend.

DOGE Forms a Bullish Pattern – Is $0.33 the Next Target?

DOGE’s double-digit price surge has pushed it into an ascending parallel channel pattern on the daily chart. This pattern forms when the price of an asset moves between two ascending parallel trend lines-one as resistance and the other as support.

This formation reflects a strong and stable uptrend, characterized byhigher highs andhigher lows. Bullish momentum is considered to be maintained as long as the price stays within the channel.

If the buying pressure continues, DOGE has the potential to break above the $0.28 level and continue its rise to $0.33. However, if demand weakens, the value of DOGE is also at risk of dropping to the support level of $0.23.

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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:

• BeInCrypto. Dogecoin Rallies to February Highs Even as Long-Term Holders Exit Quietly. Accessed on July 22, 2025