As the crypto market cap reclaims $3.65 trillion, the meme coin sector is back on its feet. The market cap of meme tokens has surged to $125 billion, driven by the massive gains of #Dogecoin , FLOKI, and PEPE.

Over the past 24 hours, Dogecoin has increased by 5.33%, followed by FLOKI’s 9.07% rise, with both tokens ranking among the top performers. Amid the bullish recovery, Dogecoin’s market cap has reached $61.17 billion, with a 24-hour price increase of $0.4157.

Dogecoin Price Analysis

In the 4-hour chart, Dogecoin’s price action shows a sideways trend within two crucial boundary levels. The support level is at $0.3488, with overhead resistance at $0.4681. This range has remained consistent for the past few sessions, reflecting a consolidation phase in the market.
Multiple doji candles on the 4-hour chart indicate indecisiveness, signaling a potential bearish turnaround. However, the ongoing bullish momentum is attempting to shift this sentiment.

Currently, Dogecoin’s price action shows a bullish reversal from $0.3656, which has reignited optimism among traders. The recovery rally, contributing to a 14% surge, has helped Dogecoin reclaim the psychological mark of $0.40.

This milestone has restored confidence in the market. The S1 pivot level aligns with this level, reinforcing its significance as key support.

Amid the recovery rally, the MACD and signal lines have given a positive crossover, accompanied by new bullish histograms. This momentum suggests a potential shift in market dynamics.

Thus, the technical indicators support Dogecoin’s bullish outlook, with a possible challenge to the overhead trendline, which could serve as the next major resistance.
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Dogecoin Price Chart