Dogecoin (DOGE) is flashing bullish signals, with technical indicators suggesting a potential rally may be underway. The meme cryptocurrency has formed a higher low on the daily chart and is testing resistance at 0.16 – $0.18, where previous rallies have stalled.
The potential rally comes amid increased social media activity around Dogecoin and growing speculation about possible integration with X (formerly Twitter) payments. On-chain data shows whale accumulation has increased by 12% over the past week, while exchange reserves have declined – typically bullish signs. Yet, the broader crypto market sentiment remains cautious, with itcoin">Bitcoin’s price action likely to influence DOGE’s momentum.
While the technical setup appears promising, traders should note that DOGE remains highly volatile and sensitive to Elon Musk’s tweets and meme coin trends. “The rally could have legs if DOGE clears 0.18, 0.12,” warned crypto analyst Markus Thielen. The coming days will be critical in determining whether this is the start of a sustained move or another fakeout in the meme coin market.
