Dogecoin Surges Past $0.20 Resistance: Next Stop $0.36?

Dogecoin (DOGE) is once again capturing attention, having decisively surpassed the $0.20 resistance level this morning, according to insights shared by crypto analyst Ali @ali_charts on X.

The преодоление of this key barrier has fueled speculation about Dogecoin's potential trajectory.

The accompanying Glassnode data illustrates a compelling development: over 58% of DOGE holders are now in a profitable position, indicating strong market sentiment. This breakout has ignited optimism among investors, with the next significant target identified at $0.36.

Data reveals a notable redistribution of DOGE, corroborating recent on-chain metrics. Whale accumulation has reached a four-month high, as highlighted by Santiment, while active addresses have exceeded 150,000 – levels unseen since November 2024. This elevated network activity, combined with positive funding rates, suggests a growing conviction in DOGE’s momentum, challenging the perception that its value is solely driven by hype.

Technical analyses from TradingView further support this bullish outlook, currently signaling a “buy” and projecting a potential long-term rise to $0.3525 by 2031, based on speculative market cap models. The 24-hour trading volume registers at $11.03 billion, accompanied by a 3.20% price increase and a 16.30% gain over the past week, according to CoinGecko. This performance surpasses the broader crypto market's 6.40% increase, emphasizing DOGE's renewed strength within the meme coin landscape.

Source: Coingecko

Despite this positive momentum, skepticism remains. Critics argue that DOGE lacks intrinsic value. Nevertheless, the current data-driven rally – supported by whale activity and retail engagement – hints at a possible paradigm shift. As the market observes, the $0.36 resistance will serve as a critical test. Will DOGE maintain its upward momentum, or will profit-taking precipitate a decline?

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own thorough research before making any financial decisions.