Dogecoin Price Prediction: Is the DOGE Price in the Buy Zone?

Dogecoin is back on the radar of every trader! After a strong bullish run at the beginning of May, the charts are heating up and recent market developments suggest that this memecoin may be gearing up for another big move. But should you jump in now or wait for a better entry? Let's take a look at the latest chart analysis and market sentiment. Technical Analysis of Dogecoin – Is the Price Drop a Buying Opportunity? Current price: $0.2155Main resistance: $0.2200Main support: $0.2000 | $0.1783 | $0.1514 The price recently skyrocketed above the important level of $0.20 but is currently testing the resistance level around $0.22. If DOGE can surpass this level, the next bullish target will be around $0.25. However, if this level is not achieved, the price may drop back down to $0.20 or even to the next strong support level of $0.1783.

The RSI is at 62.29, indicating a bullish trend but not overbought. The 50-day SMA is at 0.1783 dollars and is currently acting as solid dynamic support. Trading plan: Entry zone: $0.2000 (ideal), $0.1783 (strong support for buy positions)Short-term target: $0.25Long-term target: $0.30 and above if the bullish trend continues and ETF news keeps attracting attention.Stop loss: Below $0.1780 If you are trading short-term, look for a confirmed breakout above $0.22 before entering. For long-term holders, any pullback down to $0.20 or lower could be a golden buying zone. Dogecoin Bullish News Boosts The Hype Dogecoin has seen a surge in network activity, with active wallet addresses skyrocketing by 528% — from under 75,000 to over 400,000! This signals a strong return of investor interest and increased blockchain activity. Adding to the optimistic sentiment, the financial giant 21Shares has recently filed for a spot Dogecoin ETF, which has been recognized by the SEC. This move is seen as a significant vote of confidence in the future of DOGE and could encourage institutional investors to participate. With this growth momentum, cryptocurrency traders are closely monitoring the DOGE chart to look for the possibility of a trend reversal and a strong bullish move coming. Dogecoin Price Prediction – What's Next? Short-term outlook (1-2 weeks): The price is expected to retest the level of $0.22 and has the potential to rise to $0.25 if the news about the ETF continues to create hype. Mid-term outlook (1-2 months): If DOGE holds above the $0.20 level, the likelihood of a bullish move to $0.30 is very possible, especially if network activity remains strong. Long-term outlook (2025): With increasing interest from institutions and widespread adoption, DOGE could revisit the all-time high of above $0.35 if market conditions remain favorable.