Yeliz Akmaca 
Dogecoin, originally created as an internet meme, has gained significant popularity due to its strong community support. Despite its humorous beginnings, it is now considered a major coin in the market. However, its unlimited supply poses an inflation risk, which can make long-term value growth challenging. Price movements are largely influenced by social media trends and celebrity endorsements. Currently, Dogecoin holds a market capitalization of $31 billion.
Dogecoin Technical Analysis
Looking at the daily chart, after last year’s rally, Dogecoin has rebounded from the accumulation zone that initiated that move. The price regained upward momentum without losing this zone. As it made positive internal breakouts, it retested the area again and received another bullish response, forming new highs.
Currently, the price has successfully held above the $0.191 level, which was previously a resistance but now acts as a strong support. On lower timeframes, the next key level to break is $0.212. If Dogecoin faces another rejection here, and if the overall market pulls back, the price could decline to around $0.140. However, the $0.191 support continues to hold well.
The next resistance level is at $0.250. If this level is surpassed, the price could test higher levels rapidly. The major resistance zone for DOGE stands at $0.288. A clear breakout above this area would indicate that DOGE has entered a full bullish trend.
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