Dogecoin shows potential for a bullish reversal, backed by technical indicators and growing interest from both analysts and investors.

Historical trends and macroeconomic factors suggest that Dogecoin could reach new highs, with strong community support and increasing adoption.

Traders and analysts are optimistic about Dogecoin (DOGE), which is showing signs of a likely positive reversal. Despite current market limitations, some significant technical and macroeconomic elements point in a positive direction.

Meanwhile, DOGE continues to attract investors with a price hovering around $0.3655 and a market capitalization falling below $54 billion after a 6.06% correction in the last 24 hours.

Key support and resistance levels of DOGE highlighted by analysts

Along with PEPE, another memecoin, cryptocurrency analyst CRG highlights the durability of Dogecoin and states that both assets are "bouncing from crucial areas," adding:

"The disappearance of memecoins is greatly exaggerated, IMO. Many will be surprised by the upcoming surge"

.

DOGE's ability to maintain a daily close above its significant support level of $0.385 for nine consecutive days boosts this hope. A short-term resistance at $0.42 also acts as a key threshold, according to CRG, indicating that a breakout of this level could initiate a new bullish wave.

Additionally, another popular analyst, Gonzo, who emphasizes the importance of technical indicators, especially the 4-hour exponential moving averages, states that the EMA100 is acting as resistance at this moment and the EMA200 provides support.

While not holding above the EMA200 would lead to further consolidation, a breakout above the EMA100 could pave the way for a notable bullish momentum.

At the same time, more general macroeconomic conditions seem to support DOGE. Along with rumors about creating a strategic Bitcoin reserve in major nations, the recent 25 basis point rate cut by the Federal Reserve points to a possibly revolutionary moment for the crypto market.

Further emphasizing the cultural and market relevance of Dogecoin is the incoming Trump administration's focus on creating a "golden age" for digital assets and Elon Musk's symbolic Department of Government Efficiency (D.O.G.E.).

Historical research provides yet another level of optimism. Dogecoin has regularly lagged behind Bitcoin's price discovery phases during the last three market cycles, but it finally caught up within one to three months.

With many expecting the long-awaited milestone of $1, Dogecoin could reach new highs if history repeats itself as early as the beginning of 2025.

Specifically, as we reported earlier, the memecoin has seen a surge in the number of holders—from 60,000 to 6.68 million in just ten days.

Follow me for more!!! Daily updated content from the most reliable sources!!!

Thank you for your comments and likes!!!

Thanks to our collaborations we can continue to grow and provide updated news minute by minute every day...

Collaborate with the community

------------------

Btc (BEP20)

0x2b0207ed21a5b477f4a00a0fc2a7996279088034

-------------------

Eth (BEP20)

0x2b0207ed21a5b477f4a00a0fc2a7996279088034

-------------------

Xrp (BEP20)

0x2b0207ed21a5b477f4a00a0fc2a7996279088034

-------------------

You know the rest BEP20

Bnb

Doge

Usdt