Dogecoin Holds $0.24 Support as Analysts Eye a Move Toward $0.30

• Dogecoin holds firm at $0.24 support, with analysts targeting a move toward $0.27–$0.30.
• On-chain data shows $4.4B open interest and $29M outflows, signaling renewed accumulation.
• The 21Shares Dogecoin ETF boosts market attention as technicals indicate ongoing bullish strength.

Dogecoin continues to show a healthy market structure after completing a correction from its recent bullish phase. The cryptocurrency has stabilized near the $0.24 support zone and is attempting a pullback. If momentum remains steady, analysts project the next target between $0.27 and $0.30, which could signal another phase of bullish continuation in the coming sessions.

Dogecoin Technical Setup and Market Behavior

An analysis prepared by BitGuru showed that Dogecoin shot up between $0.22 to $0.30 earlier this month before going into a correction that established a strong floor at 0.24. Trading data indicate a steady accumulation at this level, and the volume is rising slowly. 

The asset is now trading near $0.249, maintaining a stable base that has encouraged renewed buyer activity. The technical indicators reveal higher lows since late September, indicating an ongoing upward structure. Moving averages across short-term charts remain upward-facing, and the RSI sits in a neutral range, leaving room for another move higher. 

Trader Tardigrade noted that Dogecoin’s broader pattern mirrors its historical two-dip structure seen between 2018 and 2021, which preceded a major breakout. The current 2023–2025 setup reflects a similar rising channel formation, showing steady support and compression near the lower boundary.

DeFi Growth, ETF Launch, and On-Chain Metrics

According to data from DeFiLlama, Dogecoin’s total value locked (TVL) stands at $17.06 million, down 21.71% in 24 hours, but still much higher than levels seen in early 2024. The network recorded $3,055 in 24-hour chain fees and revenue, confirming steady on-chain activity. 

Dogecoin’s market capitalization is $29.27 billion, while its fully diluted valuation is $29.28 billion. The launch of the 21Shares Dogecoin ETF (TDOG) has attracted additional market attention. Vandit Grover of Coinfomania stated that the ETF represents “a milestone in bringing traditional finance closer to the crypto world.” 

Meanwhile, Coinglass data shows open interest reaching $4.4 billion, accompanied by over $29 million in exchange outflows. These indicators demonstrate growing investor participation and holding behavior, supporting the ongoing bullish structure targeting the $0.27–$0.30 range.