Kategorie: Crypto News

• Dogecoin is currently trading in a falling wedge, eyeing a breakout above $0.219.
• A close above $0.22378 could signal a bullish trend reversal.
• On-chain activity is rising, boosting the long-term bullish outlook.

Dogecoin (DOGE) has experienced notable turbulence over the past week, with the popular meme coin shedding more than 11% of its value amid wider market volatility.

Although short-term losses have sparked concern among retail traders, technical analysts, and blockchain activity suggest that DOGE may be positioning itself for a much larger move.

DOGE price analysis

Over the past few days, Dogecoin has slipped from a local high of $0.25 to hover around the $0.2161 mark, reflecting a strong pullback after a sustained rally earlier this month.

Despite the apparent weakness, this decline has not invalidated the broader bullish structure that analysts have been tracking over recent months.

On the four-hour chart, DOGE is currently trading within a defined falling wedge pattern, which is widely regarded as a bullish formation when confirmed with a breakout.

Highlighting this setup, an analyst on X has noted that Dogecoin’s price has compressed between descending resistance near $0.219 and support just above $0.212, forming a tightening range.

4h $DOGE FW pic.twitter.com/aBCf1y5jaO

— #333kByJuly2025 (@CarpeNoctom) May 17, 2025

The analyst’s chart also points to Ichimoku Cloud metrics that show the price hovering within the equilibrium zone, suggesting that the current pause may precede a larger directional move.

The high-confluence support zone between $0.212 and $0.214, bolstered by the Ichimoku Span B, has already prompted intraday rebounds, hinting at strong buyer interest near that level.

Meanwhile, resistance at the upper wedge boundary coincides with the Kijun-sen (baseline) around $0.225, creating a well-defined ceiling that needs to be breached for bullish momentum to resume.

Dogecoin price outlook

If Dogecoin manages a decisive four-hour candle close above $0.219, Ali Martinez believes that the coin could quickly target the previous supply zone between $0.24 and $0.26.

This is a major area of resistance for #Dogecoin $DOGE. A breakout here could spark a new bull run!

Don’t wait for the breakout; instead, prepare for it! Go to @coinexcom, sign up using my referral link https://t.co/73n8mW9Y5p, and join me in this trade. pic.twitter.com/yh52WFBHQt

— Ali (@ali_charts) May 15, 2025

However, a breakdown below the $0.205 support level would likely open the door to steeper declines, potentially revisiting the April pivot low near $0.185.

From a medium-term perspective, Dogecoin’s weekly chart paints a more optimistic picture, especially as the token recently closed above the Bull Market Support Band.

This band, defined by the 20-week simple moving average and a two-sigma envelope, has acted as a major barrier since early February, with recent price action flipping it into provisional support.

Analyst Cantonese Cat has emphasised the significance of this breakout, arguing that a second consecutive weekly close above $0.22378 would confirm a broader trend reversal.

Despite the pullback from $0.25, the midline of the Bollinger Bands, which overlaps with the Bull Market Support Band, remains the primary pivot point for sustained bullish follow-through.

Adding further weight to this outlook, long-term chart patterns suggest Dogecoin has already completed a breakout above a multi-year descending resistance in late 2023.

According to analyst Javon Marks, this structural change, marked by higher highs and higher lows, confirms a bullish reversal from the extended bear market that began after its 2021 peak.

$DOGE and a +174% climb to its first target at $0.6533 continues to be in the cards 🃏… https://t.co/7Jt82s0jLy

— JAVON⚡️MARKS (@JavonTM1) May 18, 2025

Marks also pointed out that the recent correction found support at $0.16, establishing a higher low that strengthens the case for a continued uptrend.

Based on these developments, Marks has maintained a projected price target of $0.6533, representing a potential 174% increase from current levels.

He also noted that Dogecoin could eventually revisit its previous all-time high of $0.74 and even extend gains toward $1.25 if momentum builds and market sentiment improves.

Still, another layer of resistance remains between $0.25 and $0.26, a zone that has consistently capped Dogecoin’s price since December 2024, according to analyst Ali Martinez.

Repeated failures to break through this level earlier in the year underscore the importance of a confirmed move above it for any sustained upward move to take hold.

While the technical picture remains mixed in the short term, Dogecoin’s on-chain data adds another bullish signal to the overall outlook.

Blockchain analytics platform IntoTheBlock reported a surge in user engagement, with new addresses jumping by over 102% and active addresses climbing by more than 111% in just one week.

Additionally, zero-balance addresses, often associated with increased turnover and new activity, rose by more than 155%, reflecting renewed interest from both traders and casual users.

This resurgence in network activity coincides with a broader market rally and suggests that Dogecoin’s recent price drop may not reflect weakening fundamentals.

Should the price break above the $0.219 and $0.26 resistance zones, it may well trigger the next major rally toward the $0.65 target outlined by bullish analysts.

But until then, both traders and long-term holders will be watching key support and resistance levels closely, waiting for the signal that confirms Dogecoin’s next major move.

The post Dogecoin price prediction following the 11% drop in a week appeared first on CoinJournal.

• Whale count down to 10,205 from 10,232 in 9 days.
• SHIB trading between $0.000014 support and $0.0000152 resistance.
• EMA flattening suggests paused bullish momentum.

Shiba Inu (SHIB), the Ethereum-based meme coin, has gained 23% over the past month, reflecting broader interest in altcoins amid a relatively stable crypto market.

However, recent metrics show that the coin’s price action has entered a consolidation phase, with SHIB stuck between key support and resistance levels.

Its Relative Strength Index (RSI) has rebounded from oversold conditions but remains neutral, while whale activity continues to taper off.

These signals indicate the market may be undecided on SHIB’s next direction, awaiting a clearer catalyst for a breakout or breakdown.

RSI recovers but remains neutral below 50

Shiba Inu’s RSI, a widely watched momentum indicator, has recovered from a sharp dip.

The metric rose to 47.1 after falling to a low of 31.7 just a day earlier.

This follows a recent decline from a 6-day high of 68.4.

Despite the recovery, SHIB’s RSI remains below the neutral 50 mark, suggesting the token is neither overbought nor oversold.

This stabilisation reflects an indecisive market.

Traders are currently not aggressively buying or selling, and instead appear to be waiting for more direction.

If RSI continues to rise above 50, it could signal building bullish momentum.

Otherwise, the coin may face continued range-bound trading.

Whale count down by 27 holders in nine days

Another significant trend involves Shiba Inu’s whale wallet data.

The number of wallets holding at least 1 billion SHIB has dropped from 10,232 to 10,205 over the past nine days, a small yet telling sign of reduced interest among large holders.

Though the decline may not appear dramatic, it continues a broader pattern of fluctuation and gradual reduction in whale accumulation.

These addresses, which often hold influence over market movements through high-volume trades, seem to be stepping back.

This could reflect reduced long-term conviction, especially given the lack of strong bullish signals in recent sessions.

A resurgence in whale participation would likely be needed to support a more sustained upside move.

In the meantime, the data hints at cautious positioning among high-stake investors.

Price consolidates between $0.000014 and $0.0000152

SHIB is currently trading in a tight range, with support at $0.000014 and resistance at $0.0000152.

The token’s Exponential Moving Averages (EMAs), which previously showed bullish alignment, are now flattening out.

This further indicates the recent pause in directional movement.

If the price fails to hold the $0.0000139 level, it may fall further to $0.0000127 or even $0.0000123. On the flip side, a breakout above $0.0000152 could pave the way toward the next resistance near $0.0000176.

This technical setup highlights a classic consolidation scenario—where traders and investors are looking for signs of either renewed buying pressure or a deeper retracement.

Without a major catalyst or shift in market sentiment, sideways action may persist in the short term.

Mixed short-term sentiment amid long-term uncertainty

In the last 24 hours, SHIB has gained 3.4%, but it remains down 8.5% over the past week. This divergence shows that while some short-term buying is returning, broader price action still points to caution.

Overall, the combination of neutral RSI readings, a narrowing whale base, and flattening EMAs suggests the meme coin may continue to face resistance unless broader market enthusiasm returns or specific events trigger a breakout.

The post Shiba Inu rallies 23%, yet whale exits and RSI trends suggest slowdown appeared first on CoinJournal.