DOGE on Verge of 50% Rally, but One Obstacle Remains for Dogecoin

Cover image via U.Today

Dogecoin (DOGE), a major and highly popular meme coin, shows a technical structure hinting at a potential bullish upswing. However, a key obstacle stands in the way of significant price movement: the 50-day simple moving average.

Currently around $0.168, this resistance level is preventing a larger breakout. Recently, DOGE surpassed the 23-day SMA, suggesting a possible restart of short-term bullish momentum. While not a dramatic rally, this shift indicates buyers may be regaining control after a period of consolidation within a descending trend. Previous：Without Next：Without