Dogecoin To The Moon? Price Eyes $0.27

By: bitcoin ethereum news|2025/05/04 03:45:01
0
Share
copy
After months of sluggish price action and sideways consolidation, Dogecoin (DOGE) may finally be on the verge of a meaningful breakout. Recent price movements, technical signals, and broader macroeconomic trends all appear to be converging in DOGE’s favor. Technical Breakout from Descending Channel According to analysis, Dogecoin has officially broken out of a descending channel, a formation that has capped price rallies since the beginning of the year. The breakout is further validated by a successful retest of prior resistance, now turned support, suggesting a bullish reversal is underway. The immediate resistance lies at $0.27, but continued bullish pressure could push DOGE toward $0.39 and even $0.43 in the coming weeks. Meanwhile, support around $0.17 provides a safety net in the event of short-term pullbacks. Short-Term Price Action and Elliott Wave Analysis Recent price behavior shows Dogecoin is in a micro-corrective phase, currently holding above a key support zone between $0.17 and $0.1777. This region was previously identified as a micro-support level, and the market has reacted accordingly, hinting that the fifth wave up in an Elliott Wave sequence may be starting. In the current wave count, analysts identify a potential three-wave move up, with Wave 3 peaking near the 138% Fibonacci extension at $0.196. If this structure holds, Wave 5 could extend toward the 161.8% level at $0.206 or the 178.6% level at $0.213. A confirmed break above $0.185 would strongly mean that the next bullish leg is underway. However, a decisive drop below $0.17 would cause a temporary delay in the anticipated rally. For now, the pullback appears corrective and shallow, which aligns with an ongoing uptrend. Macro Trends: Bitcoin, Global M2, and Dogecoin Correlation Beyond the charts, macroeconomic indicators are adding fuel to the bullish case. One emerging narrative gaining traction among analysts is the correlation between cryptocurrency prices and global M2 money supply — a measure of the world’s money supply that includes cash, checking, and easily convertible near-money. According to one user, when applying a 110-day offset, there appears to be a consistent pattern between increases in M2 and DOGE price rallies — excluding outlier events like the post-Trump-election price surge. There has been a lot of talk about the correlation between the price of Bitcoin and the Global M2 money supply. But how about Dogecoin? With a 110 day offset and ignoring the $DOGE price craziness after the Trump election, there is a pattern relationship for when money flows... pic.twitter.com/zoBVGUQHBm — KrissPax (@krisspax) May 3, 2025 If money continues flowing into assets like Dogecoin as global liquidity expands, especially during the summer, this correlation could become even more evident — reinforcing the bullish technical setup. Source: https://coinpedia.org/news/dogecoin-to-the-moon-price-eyes-0-27/

-- Price

--

You may also like

Blaming the desolation of the cryptocurrency world on the rise of AI is a form of intellectual laziness

The emergence of giants signifies a mature business model. Although it will reduce speculative space, there is also enough room for error, allowing for the continuous emergence of new forces.

The impact of OUSD on Circle, Tether, and Paxos: not a single negative factor, but a more complex reshaping of competition

OUSD will not be the last new competitor; Circle needs to respond more actively in terms of products, distribution, and ecosystem collaboration.

A valuation of 8 billion dollars, doubling in 8 months! What makes the crypto-friendly bank Erebor Bank stand out?

Erebor is a high-profile experiment taking place at the intersection of banking, cryptocurrency, and industrial policy.

340 billion valuation: Li Yanhong's largest IPO, a seat in Kunlunxin's shares is hard to come by

As a core asset in Baidu's AI landscape, Kunlun Chip is expected to exceed Baidu's market value after going public, becoming an important bargaining chip in its turnaround battle.

Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play

The emergence of Open USD has shifted the competition for stablecoins from the market struggle of crypto startups to a battle for infrastructure involving traditional finance, payment networks, technology platforms, and public chain ecosystems.

Cape Verde 2-3 Argentina: The Underdog Team That Stunned the World in Defeat

Cape Verde's run ended in a 3-2 defeat to Argentina, but their journey — three unbeaten draws, one heroic goalkeeper, and a fight that pushed the defending champions to the brink — is the kind of story markets recognize too: small caps can rattle blue chips long before anyone expects it.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com