- Dogecoin maintained its crucial $0.20 support, showing resilience despite broader market weakness.
- Key technical indicators are worth watching for confirmation of a sustained move higher.
Dogecoin [DOGE] is stubbornly holding above the crucial $0.20 support level, even as the broader market sheds risk.
This resilience hints that buyers are stepping in strong, potentially turning this zone into a solid floor. With risk-on sentiment likely to re-emerge, is DOGE primed for a potential retest of $0.30 resistance?
Why $0.20 is a make-or-break level for Dogecoin
DOGE’s daily chart is showing some classic setups.
Historically, when Dogecoin consolidates in a tight two-week range, it’s usually gearing up for a big move. Before the breakout on the 8th of May, DOGE hung between $0.15 and $0.17, playing it cool.
Then, as Bitcoin [BTC] hit fresh all-time highs, capital rushed back, sending DOGE on a nearly 50% sprint to $0.25 in just three days.
In fact, the RSI hit a major peak here – the first time since November. So some profit-taking was inevitable.
Still, Dogecoin has shown impressive resilience, trading within a solid $0.20 to $0.25 range despite ongoing market deleveraging.
For a memecoin, that kind of resilience screams strategic accumulation, with savvy buyers quietly stacking under the radar.
If history is any guide, traders are clearly strategizing for a repeat rally.
Once the macro FUD eases and Bitcoin clears its overhead resistance, Dogecoin could be primed to break above $0.25, with $0.30 firmly in its sights.
FOMO alert: Why traders can’t ignore DOGE now
Supporting AMBCrypto’s call, DOGE’s largest whale holds between 100 million and 1 billion coins.
The whale’s balance just hit a monthly high of 26.44 billion DOGE. In less than a week, they added 640 million more coins.
That move wasn’t subtle. It lined up perfectly with the $0.21 dip and flipped the Short-Term Holder (STH) NUPL into “hope” territory. In fact, it was the first time in almost four months that we’ve seen that kind of positive vibe.
Translation? STHs (holding
Add to that a fresh injection of capital and resilient holder behavior, and the setup screams early accumulation.
For a memecoin to hold ground through market-wide deleveraging? That’s no fluke. If macro pressure cools off, Dogecoin could be gearing up for a breakout, with $0.30 back on the radar.
