Dogecoin (DOGE) on Verge of $0.2 Breakout, Has Price Bottomed Out?

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Over the past 24 hours, Dogecoin (DOGE) has demonstrated resilience, with its price experiencing a rise of over 5%. This upward movement suggests that the meme coin may have concluded its recent period of selling pressure and potentially found a price floor. The recovery indicates a possible return towards the $0.20 price level.

Investor Sentiment Boosts DOGE Trading Volume

Data from CoinMarketCap reveals that DOGE ascended from a low of $0.181 to a high of $0.1959 earlier in the trading session. At the time of this writing, DOGE is trading at $0.1909, marking a 5.12% increase within the last 24 hours.

The Dogecoin ecosystem reflects this positive sentiment. Increased investor participation has driven trading volume up significantly, by 72.50%, reaching $1.29 billion.

Potential for Further Gains

DOGE appears to be stabilizing above the $0.19 mark, setting the stage for a potential breakout. Should the current momentum persist, the price could potentially reach the $0.24 zone. A continuation of the bullish trends in the broader cryptocurrency market could propel DOGE even further.

It's worth noting that Bitcoin (BTC), the leading cryptocurrency, has also experienced a price surge during this timeframe, with aspirations of retesting the $110,000 level. If BTC sustains its upward trajectory, it could have a positive impact on DOGE, bolstering its recovery.

Technical Indicators Point to Bullish Momentum

According to a U.Today report, Dogecoin's Bollinger Bands hinted at the current price rebound as they began to narrow over the weekend. The meme coin entered an oversold territory, contributing to the current market recovery for DOGE.

A key characteristic of this recovery is the substantial increase in trading volume, which signals growing investor confidence. This is a significant contrast to June 7, 2025, when volume experienced a sharp decline of 48%.

Some market observers suggest that the volatility observed in Dogecoin last week might have been influenced by social media interactions. However, as that situation subsides, Dogecoin is progressing steadily toward the $0.20 target. Read original article on U.Today