- DOGE Faces Key Resistance & Support: Dogecoin is struggling to break past $0.202 resistance, while $0.18 acts as crucial support. A move above resistance could spark a rally toward $0.29, while a drop below support may push it lower.
- Technical Indicators Show Weakness: The MACD remains bearish, and the RSI is near oversold levels (36.97), signaling potential continued downside unless bullish momentum returns.
- Whale Activity & Network Growth: Dogecoin’s active addresses surged from 150K to 280K, and whales accumulated 110M DOGE, indicating growing interest despite recent price retracement.
Dogecoin ($DOGE) has been bouncing between gains and losses lately, struggling to regain its footing after a recent correction wiped out a chunk of its previous surge.
Currently trading at $0.1681, DOGE has a 24-hour trading volume of $844 million, reflecting a -0.43% dip in the last day but a 3.24% increase over the past week. Despite the turbulence, analysts believe DOGE could still make a run toward $0.29—but only if key technical levels hold.
Dogecoin’s Make-or-Break Moment: Will the 20-Day EMA Provide Support?
DOGE has faced multiple corrections, pulling back from recent highs. Still, some analysts are cautiously optimisticabout its potential to reclaim $0.29 in the short term.
The key level to watch? The 20-day Exponential Moving Average (EMA), which could serve as a support level for future moves. If Dogecoin manages to hold above this range, a breakout could be in play.
However, crypto analyst Igor Bondarenko warns that if DOGE fails to build momentum, a steep decline toward $0.10 is possible—a scenario that would signal deeper bearish sentiment.
Bearish Signals: MACD & RSI Indicate Caution
From a technical perspective, the MACD (Moving Average Convergence Divergence) paints a bearish picture. The MACD line (blue) is below the signal line (orange), meaning momentum remains weak and traders are hesitant to push DOGE higher.
Meanwhile, the Relative Strength Index (RSI) sits at 36.97, hovering near oversold conditions. If it drops below 30, it could invite more selling pressure, reinforcing the downward trend.
Whale Activity Spikes as DOGE Network Grows
Despite the bearish technicals, Dogecoin’s network activity has surged. Crypto analyst Ali Martinez noted that active addresses jumped from 150,000 (March 12) to over 280,000 (March 14)—a huge increase in participation.
Interestingly, this spike coincided with a price pump from $0.16 to $0.26, suggesting that higher network engagement led to more demand. However, after the initial excitement faded, DOGE retraced, likely due to profit-taking.
Adding to the mix, whales scooped up over 110 million DOGE within a week. While this kind of buying pressure initially supported a bullish trend, the retracement hints that some large holders may have sold off for quick profits.
Key Levels: Resistance at $0.202, Support at $0.18
With the market still shaky, DOGE is at a crossroads. The $0.202 resistance level (March 6 high) is the big hurdle bulls need to break. If Dogecoin pushes past this level, it could trigger a new wave of buying pressure.
On the downside, $0.18 has become a critical support zone. A break below this level could signal a bearish shift, potentially sending DOGE toward lower levels.
Final Thoughts: What’s Next for DOGE?
Dogecoin’s near-term trajectory depends on whether buyers step in at key levels. If momentum builds, $0.29 remains a realistic target. But if technical weakness persists, the risk of another correction looms large.
With whale activity, network growth, and technical indicators all in play, the next few days could set the tone for DOGE’s next major move. Buckle up—volatility ahead!
