The Dogecoin price rose 3% in the last 24 hours to trade at $0.1749

This uptick in the DOGE price comes as the crypto space rebounded in the last 24 hours, rising 1.4% to a $2.9 trillion market capitalization.

The price of Dogecoin rose 3% in the last 24 hours to trade at $0.1749 by 12:19 a.m. EST as trading volume soared 56% to $1.4 billion.

This uptick in the DOGE price comes as the crypto space rebounded in the last 24 hours, rising 1.4% to a $2.9 trillion market capitalization, according to Coingecko.

Dogecoin Price Aims For A Bullish Breakout

The DOGE price has been lagging in a strong downtrend since reaching highs near $0.50 in late 2024.

The chart clearly shows a falling wedge pattern, typically considered a bullish reversal formation. This pattern consists of lower lows and lower highs, indicating a prolonged correction phase following Dogecoin’s major price rally.

Currently, the Dogecoin price is trading around $0.175, nearly touching the lower boundary of the wedge. Several key pivot points (A, B, C, D) are marked on the chart, indicating previous support and resistance zones, according to GeckoTerminal data

The 200-day Simple Moving Average (SMA) ($0.2497) and 50-day SMA ($0.2268) are still above the current price, suggesting that DOGE is yet to fully regain bullish momentum.

Meanwhile, the Relative Strength Index (RSI) stands at 40.88, showing weak momentum but not yet oversold.

If the RSI drops below 30, it would signal an oversold condition, increasing the likelihood of a rebound. However, for now, it suggests continued bearish pressure.

The Moving Average Convergence Divergence (MACD) line (blue) is just above the signal line (orange), but both are close to zero, indicating weak momentum. A stronger, bullish crossover is needed to confirm a reversal.

DOGE Price Prediction

DOGE is at a critical juncture within the descending wedge pattern.

If the Dogecoin price breaks above the wedge resistance around $0.22, it could rally towards $0.25 or higher.

However, failure to breakout may cause the price of DOGE to continue its downtrend toward $0.15 or even lower before encountering strong support.

As the DOGE price soars, investors are shifting their focus to a new meme coin known as Meme Index (MEMEX).

According to 99Bitcoins, a prominent crypto channel on YouTube with over 725K subscribers, MEMEX has the potential to be the next 100x crypto.

Meme Index Presale Closes On $4.5 Million Milestone – Last Chance To Buy

The Meme Index (MEMEX) presale has exceeded $4.1 million, showcasing strong interest from early investors who want to capitalize on its unique approach to meme coin investing.

The team has set a timer for the presale, which will conclude in about 11 days.

Instead of trying to predict which single coin will surge next, which is challenging in the fast-paced meme coin market, MEMEX enables investment across carefully selected collections.

GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!

— Meme Coin Mania (@MemeCoinMania77) February 5, 2025

Powered by Ethereum, this comprehensive platform offers four investment tiers.

The indexes are Meme Titan, Moonshot, Midcap, and Meme Frenzy.

Each basket caters to different risk tolerances, ranging from relatively safer options like Meme Titan to the highest-risk Meme Frenzy, designed for those seeking massive returns but prepared to accept high levels of risk.

MEMEX holders can also participate in the project’s presale staking pool, currently offering a remarkable annual yield of 556%.

You can purchase MEMEX tokens on the official website for just $0.0166883.

Visit the Meme Index website.

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