Dogecoin Surges 21% Amid Crypto Comeback, Holds Key Support at $0.142

Global economic uncertainty and rising trade tensions are impacting cryptocurrency markets. However, Dogecoin (DOGE) has shown remarkable resilience.

After a sharp 21.2% correction, dropping from $0.165 to $0.130, DOGE has staged a strong recovery, mirroring a broader market rebound (CoinDesk 20 Index up 9% in the last 24 hours). Significant buying volume solidified support around $0.142-$0.145, validating this rebound.

Technical Analysis

DOGE/USD experienced significant volatility, falling from $0.165 to $0.130 before a robust recovery. CoinDesk Research's technical analysis indicates a strong bullish reversal pattern, supported by the $0.142-$0.145 range.

Volume analysis confirms the recovery's strength, with peak accumulation during the April 9th rally pushing prices above the crucial $0.160 resistance level. The price is currently consolidating near the 61.8% Fibonacci retracement level, with horizontal support at $0.155.

Recent trading shows DOGE forming an ascending channel, supported at $0.155 and resisted at $0.156. Significant accumulation (7 million units) around 11:32 AM further indicates buyer interest. Early U.S. trading showed increasing momentum, with higher lows and a break above the $0.156 resistance. This suggests a potential continuation of the uptrend towards the recent 48-hour high of $0.165.

Disclaimer: This article was generated with the assistance of AI tools and reviewed by our editorial team. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources.

External References:

• Times Tabloid, "Dogecoin (DOGE) Price Analysis: Indicators Point to Potential Bullish Reversal," April 8, 2025.
• The Crypto Basic, "Analyst Shares Realistic Dogecoin Targets Highlighting Critical Support and Resistance Levels," April 8, 2025.
• CoinGape, "Analyst Forecasts Over 59% Dogecoin Price Crash Coming Soon, Here's Why," April 8, 2025.
• NewsBTC, "Dogecoin Fading Fervor: Has The Meme Coin Lost Its Mojo?" April 7, 2025.
• Bitzo, "Bitcoin, Solana, and Dogecoin in Freefall Amid Massive Sell-off – Is the End Near?" April 8, 2025.