Dogecoin has entered a critical consolidation phase lower than a resistance of $ 0.26 after having experienced a drop of 18% from its local model of May 10, according to the Technical Analysis Data model of Coindesk Research.
A recent whale activity shows that 170 million tokens worth more than $ 40 million has been lost in recent days, potentially being set up for the next major escape.
The recent Dogecoin price action shows a light bull flag model that is formed after its impressive rally that started in early April.
Despite the current decline, the technical indicators suggest that this could be healthy consolidation before another lightness.
Analysts indicate a potential escape in the next 7 days that could push Doge to $ 0.35 to $ 0.45, which represents a potential gain from 52 to 114% of current levels.
Strengths of technical analysis
- DOGE has shown a strong bullish dynamic, from $ 0.222 to $ 0.228, forming an ascending channel with significant support at 0.218-0.219 $.
- A key resistance area emerged at 0.233 at $ 0.234, where profits occurred despite a high volume.
- The net withdrawal of the last hour of the summit of the day suggests a potential to come to come, although the underlying momentum remains positive with higher stockings established throughout the period.
- DOGE experienced significant volatility with a high drop correction, going from $ 0.233 to $ 0.227, representing a drop of 2.57%.
- Multiple attempts to establish support took place between $ 0.227 and $ 0.228, with brief periods of consolidation.
External references
- “The prediction of Dogecoin prices: a break greater than $ 0.230 could release a rally of full -fledged memes”, Cryptonews, published on May 18, 2025.
- “DOGECOIN MOMENTUM FADES – The analyst plans that $ 0.213 Retest”, Newsbtc, published on May 21, 2025.
- “Dogecoin Chart too good to ignore, explains Trader Packing Double”, Newsbtc, published on May 21, 2025.
