The largest crypto memecoin, Dogecoin (DOGE), is once again in the spotlight despite ongoing market uncertainty. Over the past 24 hours, DOGE’s price has barely moved. As of April 13, the broader crypto market declined by 0.51%, bringing the total market cap to $2.42 trillion. During the same period, DOGE slipped 0.25% and traded at $0.0915.
Trading volume dropped by over 36% to $873.40 million, reflecting reduced activity. This drop in both price and volume suggested that traders were holding back, limiting immediate downside pressure. One analyst pointed out that DOGE’s chart still supports a long-term move toward $2. According to him, the $0.07 to $0.09 range remains a strong accumulation zone, with targets at $0.5, $1, and $2.
Another expert highlighted DOGE’s monthly RSI, noting that it has reached levels historically linked to reversals. In 2016, 2020, and 2023, similar RSI conditions preceded strong rallies. This pattern suggested that DOGE could be setting up for another upside move, even if the timing remains uncertain. However, the daily chart painted a more restrained picture.
DOGE continued to trade within a descending triangle, moving sideways for nearly 25 days between $0.088 and $0.096. This prolonged consolidation kept price action compressed, with no clear breakout yet. A decisive move beyond either boundary could define the next trend. A break above $0.096 may push the price higher, while a drop below $0.088 could trigger further losses.
At press time, the Average Directional Index (ADX) stood at 10.89, indicating weak trend strength. This aligned with the ongoing sideways movement. Market sentiment remained split across different participants. On-chain data showed that long-term holders continued to accumulate.
Over the past 48 hours, around $5 million worth of Dogecoin moved out of exchanges, signaling potential holding behavior. However, short-term traders leaned in the opposite direction. The Exchange Liquidation Map highlighted $0.0893 and $0.0929 as key leverage zones. This imbalance suggested that bears held the short-term edge, even as long-term players quietly accumulated.
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