Should You Buy the Dip on Dogecoin? Key Technical Setup Signals Big Move Ahead
This content is provided by a sponsor
Dogecoin (DOGE) has lost the mild rebound momentum it gained earlier this week, slipping back into a downward trend.
The latest price drop coincides with another wave of bearish consolidation across the broader crypto market, dragging sentiment lower.
At the time of writing, DOGE is trading at $0.1808 – down more than 6% over the past 24 hours.
With this pullback, the focus now shifts to whether investors will view this as a buying opportunity – or a signal to stay cautious as market uncertainty lingers.
Technical Trends Signals Big Dogecoin Price Breakout
The ongoing selloff in the DOGE market is further bolstered by the 5.37% drop in trading volume to $1.48 billion.
Despite this gloomy outlook, Dogecoin displays a unique resilience that might help trigger a rebound.
With a Relative Strength Index (RSI) of 45, the intense selloff is no longer at play.
Source: TradingView
According to the daily chart, Dogecoin fell sharply from a high of $0.422 on January 18 to a low of $0.154 on March 11.
Since then, the price has entered a period of consolidation, trading sideways in a narrow range. Despite this cooling-off phase, the broader trend suggests DOGE has broken out of its previous descending triangle pattern.
After flipping the $0.176 resistance on March 23, broader market volatility has kept the meme coin in check – but momentum may be building.
Analyst Trader Tardigrade weighed in with a bullish outlook, noting that if Dogecoin can maintain support at $0.178, it could be poised to post a new Higher High (HH).
He highlighted two critical levels to monitor: $0.178 and $0.164.
#Dogecoin Market Structure has shifted from a Downtrend to an Uptrend on the daily chart, forming higher highs (HH) and higher lows (HL).
Two significant support levels are:
🟠 $0.178
🟠 $0.164
🟢 If the price remains above $0.178, the uptrend continues and will form new HHs.… pic.twitter.com/x29xjToqlr
With this setup, investors looking to buy the dip should keep an eye out for decisive moves. If DOGE holds above $0.18 into the weekend close, a breakout could be the next step.
Meme Index as Dogecoin Rival to Watch
As Dogecoin leads the meme coin space, Meme Index ($MEMEX) is rising as a smarter, diversified alternative.
Built on Ethereum, Meme Index offers exposure to the top meme coins via four dynamic indexes: Titan, Moonshot, Midcap, and Frenzy.
With just one token, $MEMEX holders can diversify across the meme coin market and enjoy governance rights and access to early-stage tokens.
Currently in presale, $MEMEX is available at discounted rates with staking rewards of up to 538%.
Many analysts anticipate a sharp price surge once $MEMEX becomes available on major exchanges, thanks to its strong fundamentals and growing investor interest.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
Despite the recent controversy surrounding Studio Ghibli due to OpenAI’s “Ghiblify” feature, the meme coin Ghiblification ($GHIBLI) has seen its market capitalization surge by 99.2% overnight.
Bitcoin (BTC) whales are in an accumulation phase, stacking up their Bitcoin stash in the past two weeks, totaling $11.2 billion in BTC purchases coming amid the options expiration on Friday.
