source: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
2025. May. 24. 16:31
Global economic uncertainties and trade policy shifts are creating ripple effects across cryptocurrency markets, with Dogecoin showing resilience despite recent downward pressure.
The meme coin has formed a clear bearish channel with resistance at $0.236, though strong buying emerged at support levels, indicating investor confidence remains despite broader market concerns.
Technical Analysis Highlights
DOGE experienced a significant downtrend over the 24-hour period, falling from 0.238 to 0.227, representing a range of 0.015 (6.3%).The price action formed a clear bearish channel with resistance at 0.236 and support emerging around 0.224.High-volume buying occurred during the 23:00 hour with 643M in volume—significantly above the 24-hour average.After reaching the cycle low, DOGE has established a consolidation pattern between 0.227-0.230, with decreasing volatility.In the last hour, DOGE exhibited significant volatility with a clear downward bias, falling from 0.229 to 0.227 (0.87% decline).The price action formed a series of lower highs and lower lows, with notable selling pressure at 13:35 and 13:56.A temporary support level formed at 0.227 with buyers stepping in at 14:01, generating the hour's highest volume of 4.5M.External References
"Dogecoin (DOGE) Heats Up: Upside Move Hints at Major Breakout Ahead", NewsBTC, published May 23, 2025."Dogecoin Targets $0.50 as Open Interest Crosses $3 Billion", The Crypto Basic, published May 23, 2025."Dogecoin Price Breaks Out Of Bearish Trendline And Enters Ascending Channel Headed For $0.3", NewsBTC, published May 24, 2025.