Dogecoin is at a major point as June begins to unfold, holding near a key support zone that could be the main factor of its next move.Crypto Analysts Scott Matherson and Shaurya Malwa highlight the $0.1902-$0.1839 range as bulls try to defend the crucial level.
The Battle at $0.19
This current price area marks the 50% Fibonacci retracement from the May 11 rally to $0.2597, with resistance that was holding above $0.1976-$0.2005. In a more recent breakdown price ended up slicing through the Ichimoku conversion line, only touching this key floor briefly. A close below could send the price of DODGE closer to $0.1694 or even as low as $0.14.
If support does hold, a bounce toward $0.2117 is very possible, fueled around the growing speculation of a Dogecoin ETF and rising market confidence which is more deeply spoken about in Dogecoin, XRP ETF Hopes Are Fuelling Bullish Sentiment, Social Data Shows
V-Shaped Rebound and Strong Volume
Dogecoin’s most recent price action has added fuel to the bullish fire. According to CoinDesk DODGE rose nearly 5% over a short 24 hour span, rebounding from the $0.18 level to around $0.19 in what is described as a classic V shape recovery. This bounce did not only affect the price but volume also surged to around 500 million DOGE in back to back hours, which is more than double a typical daily average. This could suggest strong underlying demand and increasing interest among buyers. Resistance has now started to form around the $0.198-$0.199 zone, while support near $0.194 is gaining traction as a key level to hold.
The spike coincided with a wave of renewed momentum, including polymarkers odds that place a 51% chance of a Dogecoin ETF being approved in 2025, and Dodgecoin’s expanding role in the DeFI space on Coinbase’s Base network. There is also institutional interest rising, with on-chain whale activity and inflows from retail that are reinforcing the trend. Adding to the optimism, Nasdaq has officially filed with the SEC to list the 21Shares Dogecoin ETF, a move that could boost investor access and confidence.
Long-Term Setup:Compression & Breakout Potential
From a macro view, Dogecoin has been in a tight consolidation range between $0.16 and $0.42 for over seven months. This kind of prolonged sideways price action is typically referred to as an “inside bar” squeeze, and historically comes with significant breakouts once a direction is chosen. What is making this set up more promising is that it is happening within the context of a larger bullish trend-marked by higher highs and higher lows throughout 2024 and early 2025. As noted in Dogecoin Surges 5% in June 2025, Signaling Strong Market Rebound,the recent upward move adds momentum to this narrative. The size of ($.26) implies that a breakout can travel at least that far once it begins. Adding further interest, Bitcoinist points out a long term Fibonacci target of $2.28, which is based on price behavior of Dogecoin in previous cycles. If DOGE can continue to mimic its past market structure, a rally of this size would not only cause a breakout-but a full scale third cycle reset, which would echo the moves of 2017 and 2021. Although this target may feel distant, if the consolidation breaks to the upside, it will end up coming into view a lot faster than most will expect.
My Two Cents on the Dogecoin Hype
As a college student who’s been following memecoins and crypto for a while, watching dogecoins price action is always entertaining, but also tends to give me deep insights as well. While it started as a joke, DOGE has grown to something a lot bigger, with interest coming from big institutions and now even ETF talks. I feel that the price of DOGE will increase in the near future if the ETF hype continues and Bitcoin stays strong,but like most meme coins, DOGE still moves heavily on sentiment. So whether this price movement is a breakout or fake out, I will definitely be watching closely, probably with X and news articles on one screen and charts on the other!
Source
This article is based on: Dogecoin Jumps 5% as V-Shaped Recovery Shows Rising Demand
Cycle Performances Say Dogecoin Price Will Rally Above $2.28
Further Reading
Deepen your understanding with these related articles:
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- Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow
- Bitcoin Traders Brace for ‘Sell in May and Go Away’ as Seasonality Favors Bears
Nicholas Newman is a 19-year-old based in Westchester, NY. He began his college journey at Iona University in New Rochelle and is now a student at Fordham University’s Gabelli School of Business in the Bronx NY, majoring in Accounting and Finance. Nicholas has been actively involved in the crypto space since 2020, both on the investment side and in development, and continues to explore opportunities at the intersection of finance, technology, and digital assets.
