Despite briefly recovering above the $0.23 mark mid-May, the gains were short-lived. Currently, Dogecoin (DOGE) is trading around $0.21, showing a weekly loss of 10%. However, investors remain hopeful, anticipating long-term signals for a new uptrend.

Expert Bullish Analysis

Javon Marks, a leading analyst, notes that a key trendline, previously the upper boundary for Dogecoin (DOGE) since its peak at $0.70, has been breached at the end of 2023. According to Marks, this breach sets the stage for a higher top and bottom.

With the latest bottom holding near $0.15, Marks keeps his target at $0.65, which represents a potential upside of 200% from $0.21. He also hints at $0.74 and $1.25 as the next crucial levels.

Barriers at the Resistance Level

Ali Martinez, a market observant, reports that the $0.25-$0.26 zone poses a major obstacle. This band previously acted as support in December 2024 but transformed into resistance in early 2025.

Dogecoin (DOGE) has made several attempts to break through the limit, but to no avail. In February, the price briefly touched $0.28 before sliding back below $0.15. A March rally managed to cross $0.19, yet it couldn’t be sustained.

On-Chain Activity Experiences a Sharp Surge

Recent data reveals a significant spike in wallet activity. The number of new addresses increased by over 100% over the last seven days. Active addresses also saw a 110% surge. Notably, addresses with zero balance rose by 155%, often indicating new participation or address purging. While an increase in on-chain numbers doesn’t necessarily translate to a price surge, it does indicate that more users are returning to perform transactions.

Conclusion

Although the long-term target for Dogecoin (DOGE) seems promising, reaching it won’t be easy. To reach $0.6533 or above, Dogecoin (DOGE) must first stabilize above $0.26, then break $0.28 with strong volume support. Large price fluctuations could induce some shareholders to realize their gains.

While technical analysis is in traders’ favor, external events like social media buzz or listing on a new exchange might be needed to propel Dogecoin (DOGE) past $0.30. In the short term, traders will be focused on whether Dogecoin (DOGE) can regain $0.25 and maintain it for a few days.