Dogecoin (DOGE) is trading at $0.09448, down 7.51% in the last 24 hours, following a recent climb to a local peak. Despite the pullback, technical indicators like the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) suggest the broader uptrend remains intact.
Dogecoin price is experiencing a temporary decline after reaching a resistance zone, but analysts see this as a natural part of the uptrend. At the time of writing, DOGE is trading at $0.09448 with a 24-hour trading volume of approximately $2.96 billion and a market capitalization of roughly $14.81 billion.
Analyst Trader Tardigrade noted that the $0.087 zone is a key price level to watch. He stated that the current correction “may be considered a natural part of consolidation within the uptrend.” The analyst believes Dogecoin formed a local high near resistance, creating conditions for profit-taking, and that the pullback will allow the asset to form another base before attempting to move higher.
The critical support level is $0.087, which market analysis indicates has shown recent support. If DOGE can hold above this level, the current rebound pattern remains intact. Momentum indicators support the recovery setup, with the MACD line at 0.00319 remaining above the signal line of 0.00213, indicating positive momentum.
The RSI for DOGE is at 60.32, above its average of 54.81, suggesting buying pressure is stronger than selling pressure while not yet entering overbought territory. These indicators show the ongoing downtrend has not negated the overall positive momentum.
Adding to demand signals, analyst TOP DOGE highlighted an extra $1.2 million in inflows into spot Dogecoin ETFs this week, with over $2 million in weekly net inflows. The analyst noted that ETF holdings currently account for only about 0.11% of the circulating DOGE supply.
The most critical factor for Dogecoin’s price will be its ability to maintain the $0.087 support area. Success would allow DOGE to consolidate before attempting to reclaim prior highs. However, a fall below $0.087 could signal a change in the current technical pattern.
