After a period of sideways consolidation, the Dogecoin price is showing early signs of a potential breakout. Trading just above $0.20, the meme-inspired token could be poised for a 25% rally—but only if it manages to overcome a key resistance level.
According to recent price action and liquidation data, bulls are gaining momentum, but the road ahead isn’t without friction.
Dogecoin Price Holds $0.20 as Bulls Return
DOGE has been slowly reclaiming ground after bouncing from the $0.18 support zone, as seen in the latest daily chart.
Source: Tradingview
Volume has increased over the past few sessions, and Dogecoin is now attempting to flip the $0.21–$0.22 range into support. A clean breakout above $0.225 could open the door to a short-term rally toward $0.27–$0.28, which would represent a gain of around 25% from current levels.
However, failure to hold above $0.20 would invalidate the bullish setup and risk a return to the $0.17 range.
Liquidation Data Shows Short Pressure Easing
Recent data from Coinglass highlights a decline in short liquidations, suggesting that bearish bets are being unwound as DOGE price stabilizes.
Source: Coinglass
While long liquidations dominated during May’s pullback, June has seen a reduction in both long and short pressure, with funding rates slowly trending neutral. This could provide a calmer environment for a technical breakout, assuming macro sentiment doesn’t shift.
What DOGE Needs to Break Out
To confirm a bullish move, Dogecoin must:
- Close daily candles above $0.225
- Sustain volume above 70M DOGE traded per day
- Avoid sudden short squeezes or sharp selloffs near resistance
If those conditions are met, a move toward the $0.27–$0.28 range becomes likely, where previous rejection zones lie.
Traders should also watch the broader altcoin market. A continued rise in ETH and SOL could act as a tailwind for meme coins like DOGE.
Final Thoughts: Cautious Optimism for Dogecoin Bulls
This Dogecoin price analysis reflects a cautious but increasingly optimistic market structure. While a 25% rally is possible, bulls must defend $0.20 and break the next ceiling cleanly.As always with meme tokens, sentiment can shift fast. But for now, technicals suggest DOGE may be gearing up for another move—if it clears the final barrier.
