- DOGE shows hidden bullish divergence as MACD flips positive and price holds above $0.22.
- Volume jumps 95% to $2.84B, supporting breakout setup toward $0.28–$0.30 in near term.
- Analysis from Bitcoinsensus sees a breakout within 7 days, targeting the $0.42–$0.43 range.
Dogecoin (DOGE) is forming a textbook technical pattern as it consolidates above key support. Recent price action and volume suggest the meme coin could be preparing for its next leg upward. A bullish MACD crossover and strong hold above $0.22 may trigger a move toward $0.28 or higher in the near term.
MACD Flips Bullish as Price Holds Above Support
According to analysis prepared by Trader Tardigrade, Dogecoin is currently resetting from overbought levels, and its RSI has dropped to 55.49. The lower RSI, combined with higher lows on the price chart, has formed a hidden bullish divergence, often seen before upward momentum resumes.
The MACD line remains above the signal line, while the histogram is flattening, suggesting that bearish momentum is weakening. As of May 18, DOGE is trading at approximately $0.2255, reflecting a 5.13% daily gain.
The price has now confirmed strength above the 100-day SMA at $0.1938 and the Parabolic SAR baseline at $0.2107. Maintaining these levels gives the bulls a technical advantage for a potential breakout.
Volume Surge and Recurring Cycle Support Breakout Narrative
Bitcoinsensus on X noted a daily trend break opportunity forming on DOGE, with the asset pulling back in what appears to be a healthy consolidation. The expected breakout, according to this analysis, may arrive within 7 days, targeting the $0.42–$0.43 range.
Meanwhile, DOGE’s daily transaction volume surged by 95%, topping $2.84 billion. Such activity signals renewed market interest. Coinciding with Bitcoin’s climb and broader altcoin participation, DOGE’s performance may follow its historical pattern of accelerating after a breakout.
If DOGE holds above $0.22 and reclaims $0.24, the next leg could extend to $0.28 and possibly $0.30, supported by improving momentum and sentiment.
