Dogecoin Price Gains 15%; Will Bullish Trend Continue?

Highlights:

• Dogecoin price surges 15% after breaking long-term descending resistance trendline
• RSI signals overbought as price nears critical $0.20 resistance zone
• Meme coin sector rallies with SHIB, PEPE, POPCAT joining DOGE

Dogecoin (DOGE) price, a popular meme-based coin, has recorded a slight recovery after a broader market rebound. The token is now trading above a key support level and is currently eyeing a move toward the $0.20 zone.

DOGE remains in an ascending trend, showing growing momentum across major exchanges. The recent uptrend places it among the day’s top market gainers. Over the past week, the coin has gained nearly 20%, reversing weeks of downtrend and hesitation.

This upward shift comes amid a strong bounce in crypto sentiment. The overall market capitalization has climbed to $2.94 trillion, marking a 5.91% increase in 24 hours. Trading volume has surged to $140.24 billion, reflecting growing participation.

DOGE is also supported by bullish indicators, including rising open interest and positive funding rates. Breakout signals on technical charts suggest continued upside. Analysts are closely watching these developments.

Meanwhile, other meme assets like Shiba Inu (SHIB), Pepe (PEPE), and Popcat (POPCAT) have also posted notable gains. The current rally signals renewed optimism in the meme coin sector, as buyers continue to step in across the broader market.

Analyst Confirms 15% Dogecoin Price Surge After Key Breakout

A crypto analyst predicts that Dogecoin will experience a powerful recovery from being able to break through its descending resistance trend line. The long-term downtrend for DOGE ended when prices broke through it and the token jumped by more than 15% before the end of the short period. 

Market traders show renewed speed as trading volume increases to support this price rise. The price showed an upward trend following technical indicators that suggested these bullish patterns will continue moving upward as long as the present support area stands.

DOGE moved through crucial resistance barriers around $0.18 which created positive changes in the way traders view its market potential. Following its previous function as a supply area the breakout zone has the potential to function as a support base.  The current market direction of Dogecoin draws investor attention toward its potential movement toward $0.40, which would produce a price appreciation exceeding 140% in the near future.

$Doge #Doge Recovery Quickly After Breakout, 15%+ Profit So Far, Expecting More In Coming Days. https://t.co/X4OiFBBfUl pic.twitter.com/0Y1ao1Y1ac

— World Of Charts (@WorldOfCharts1) April 23, 2025

How High Can Dogecoin Price Go This Week?

Over the past 24 hours, the DOGE price climbed above $0.18 before facing a pullback. The 4-hour chart highlights a steep rally within an ascending channel, which broke briefly above the $0.18 resistance level.  At the time of writing, the DOGE price trades at $0.1850, with a strong surge of 15% in the past 24 hours.

The MACD indicator remains in positive territory, although the histogram is starting to decline slightly. The signal and MACD lines are still aligned above the baseline, indicating sustained bullish momentum, but short-term exhaustion is visible. The Relative Strength Index (RSI) touched 74 on the 4-hour chart, signaling overbought conditions.

A continued move above $0.18 may retest the next resistance at $0.20, and if bulls mount more, the meme coin could rally above $0.25, then hit $0.3 in the near term. A breakdown below this channel could weaken bullish momentum, exposing lower levels. A failure to reclaim that level could lead to a retracement towards the $0.15 support, which aligns with previous consolidation levels.