Dogecoin Rebounds from Bottom, Next Target Targets $0.26 If Momentum Continues
Dogecoin (DOGE) has just recorded a strong recovery from a deep correction, opening up the possibility of further upside if momentum is maintained. After bottoming around $0.143 on June 22, DOGE price has bounced back, reclaiming a key support area and is currently trading around $0.175.
DOGE Bounces Off Strong Support After Breaking Down a Bearish Pattern
Previously, Dogecoin broke out of a descending triangle pattern, sliding below a strong horizontal support zone of $0.165–$0.17, and falling to a new low. However, the $0.143 area – which had acted as a bounce zone in May – has once again proven to be strong support, marking the third touch, which is often a potential reversal signal in technical analysis.
DOGE is currently trading in a wide consolidation range between $0.143 and $0.26, and with the recent pullback, investors are starting to keep a close eye on the next resistance levels.
Next Resistance Levels and Technical Indicators
The nearest resistance level for DOGE is currently located at $0.20, the most recent high before the correction. If the price can break and close above this level, DOGE could well head towards the important resistance level at $0.26, where it has seen strong selling pressure.
The RSI is slowly rising and is currently around 50, indicating that buying pressure is returning.
The MACD has formed a bullish crossover, with the histogram in green, confirming that bullish sentiment is strengthening.
Memecoins Break Broadly Support Recovery
Apart from DOGE, the rally is also supported by the overall recovery of the memecoin market, with tokens like Bonk (BONK), Fartcoin (FARTCOIN), Pepe (PEPE), and Popcat (POPCAT) all posting double-digit gains over the past 24 hours.
The growth reflects renewed retail investor interest, especially as market sentiment is showing signs of recovery after a sharp correction.
Conclusion: DOGE is on the mend, but needs further confirmation
While technicals are bullish, a breakout above $0.20 will be the deciding factor in whether DOGE can hit $0.26 in the short term. Investors should keep a close eye on upcoming support and resistance levels as well as trading volume, which often plays a key role in major breakouts.
