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Alejandro Arrieche
Alejandro Arrieche
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Dogecoin (DOGE) has surged 5.6% in the past 24 hours, reaching $0.265 per token and driving a notable increase in the total market cap of meme coins due to its strong dominance.
As the leader of the meme coin sector, DOGE has shown remarkable resilience during the recent market downturn. Its year-to-date losses stand at 18.3%, faring better than Shiba Inu (SHIB) and Bonk (BONK), which have declined by 23.4% and 42.6%, respectively.
Just ten days ago, DOGE briefly plummeted to $0.20 following a flash crash triggered by Donald Trump’s announcement of higher tariffs on Mexican and Canadian imports.
However, buyers quickly stepped in, accumulating DOGE in large volumes and driving its recovery to current levels.
Ali Martinez, a popular crypto trader whose X account is followed by over 125,000 users, believes that the latest price action in the weekly chart indicates that the token has found strong support at the $0.25575 level and could bounce off this mark and move toward the $4 level in the next few months.
Weekly charts are typically used by swing traders to predict long-term market trends. In this case, Martinez is using Fibonacci retracement levels to determine where DOGE could be heading.
Based on his analysis, the token is currently standing above the 0.786 Fibonacci level (bullish) and could surge to $4 if it breaks the next resistance, which stands at $0.73905.
Dogecoin (DOGE) Daily Chart Support Bullish Short-Term Outlook
The Dogecoin (DOGE) daily chart shows that the $0.26 resistance is the most critical to overcome in the near term for the token. This former area of support has now turned into a critical ceiling for DOGE and bulls have already failed multiple times to recapture it.
Despite this apparent weakness, momentum indicators are favoring a bullish breakout as the Relative Strength Index (RSI) seems ready to make a move above the signal line.
At the same time, the MACD is showing a steady decline in negative momentum, suggesting that selling pressure is easing and a potential shift in trend could be on the horizon.
Later today, the U.S. Bureau of Labor Statistics will release its highly anticipated January inflation report. Analysts expect a 0.3% month-over-month increase, with the annualized figure projected at 2.9%—a figure largely in line with the previous month.
If inflation exceeds expectations, the market could react negatively, delaying potential rate cuts by the Federal Reserve and triggering another downturn for meme coins.
As DOGE’s outlook brightens, investors looking for diversified exposure to meme coins can turn to Meme Index ($MEMEX), a passive investment platform designed to simplify access to this high-growth sector.
Meme Index Helps Investors Build Diversified Meme Coin Portfolios
Meme Index ($MEMEX) is a decentralized investment platform that simplifies exposure to meme coins through four distinct index baskets, each catering to different risk tolerances.
The Titan, Moonshot, Midcap, and Meme Frenzy indexes feature tokens at various growth stages, ensuring that both aggressive and conservative investors can find a strategy that aligns with their goals.
As the native token of this Web3 solution, $MEMEX grants holders access to these indexes while also providing governance rights. Token holders can vote on key decisions, including which assets should be included or removed from each index.
To buy $MEMEX, visit the Meme Index website and connect your wallet.
Investors can swap ETH, USDT, or BNB tokens or use a bank card to participate in the presale.
