Dogecoin (DOGE) Price Prediction: Breakout or Correction?

Dogecoin (DOGE) price has seen a sharp increase in investor activity, with active addresses crossing 650,000—the highest since November 2024. This surge, especially evident among retail traders, showcases the strong interest in DOGE.

However, the timing of the spike, occurring as the local apex of $0.41 was reached, suggests it may have been fueled by late-stage speculative buying.

Nevertheless, this participation is noteworthy given that Dogecoin's DeFi total value locked (TVL) remains underwhelming at less than $5 million, despite daily trading volume exceeding $5 billion during the recent price surge.

This disparity highlights a significant gap between price action and network utility, indicating that the rally was driven more by sentiment and speculation than by actual usage growth.

Profits Rise, Optimism Returns

The Net Unrealized Profit/Loss (NUPL) indicator has returned to the “Optimism” zone, denoting that the majority of DOGE holders are now in profit.

While this reflects increased confidence, these elevated unrealized profits can contribute to selling pressure if traders encounter difficulty breaking through the next obvious resistance levels.

Optimism is ebbing away as the MACD line is facing towards down and may flip on the next candlestick close.

Additionally, the Relative Strength Index (RSI) has dropped to 62, indicating neutral sentiment after previously reaching overbought levels.

If DOGE fails to reclaim $0.245, it may remain range-bound or revisit support levels at $0.220. A breakdown below this zone could open downside targets at $0.198 or even $0.145.

Conversely, a breakout above $0.245 with strong volume could trigger a move toward $0.268 or $0.30.

The broader trend remains intact as the coin is holding above the 20, 50, 100, and 200-day Exponential Moving Averages (EMAs). This cluster, especially around the $0.205–$0.216 zone, is a key support range.

Holding above it keeps the bullish structure valid.

The post Dogecoin (CRYPTO:DOGE) May Hit $0.30 But Faces Deeper Correction Towards Long-Term Support At $0.145 — Analysis