- Dogecoin holds firm at $0.18 support as buyers drive momentum toward the $0.25 target range.
- Derivatives data show rising open interest and strong long positioning across major exchanges.
- Analysts note higher lows and steady accumulation signaling a potential bullish continuation pattern.
Dogecoin (DOGE) is already showing early recovery following a correction and it is still strong around the $0.18 mark of support. The cryptocurrency has started to curve upward on the charts, indicating a potential bullish setup forming. Provided momentum persists, a breakout into the $0.22- $0.25 range may be the next price target.
DOGE Holds Key Support and Builds Momentum
According to analysis prepared by BitGuru, Dogecoin has sustained stability near its key support zone around $0.18 following a correction earlier this month. After falling to $0.09584, the price entered a consolidation phase before gradually forming higher lows. DOGE has been trading at a range of $0.18- $0.22 with consistent accumulation and growing price stability.
Market data shows that Dogecoin recently moved to $0.1981, gaining 2.57% over the past 24 hours. It had a market capitalization of $30.02 billion and a trading volume of $1.63 billion although it declined by almost 30%. The 24-hour price chart displayed a series of rebounds and minor pullbacks, with buyers maintaining control near the lower boundary of the range.
According to an observation by Ali Charts, DOGE must defend the $0.18 level to sustain its recovery trend. “Hold it, and the path to $0.25 or $0.33 opens up,” the analysis stated. The price structure remains supported by higher lows and controlled upward movement within an ascending parallel channel.
Derivatives Data Points to Active Market Engagement
According to Coinglass data, Dogecoin derivatives trading volume totaled $5.12 billion over 24 hours, marking a 26.58% decrease. Even with this downward trend, participation was steady as the open interest increased 2.08% to $1.77 billion.
The long-to-short ratio reached 2.59 on Binance and 3.04 on OKX, indicating stronger long positioning among traders. Top traders held a ratio of 3.18 by accounts and 2.75 by positions, while total liquidations reached $2.82 million over 24 hours.
With increasing accumulation and controlled market structure, DOGE continues to show resilience. In the event of a continuation of momentum, the cryptocurrency can reach the levels of $0.22-$0.25 since it has a slow recovering pattern.
