Key Takeaways
- DOGE rose 18% over seven days, breaking above $0.146.
- The leading meme coin could face a correction below $0.14.
DOGE Trading Above $0.14
Meme tokens such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) have been driving a recent crypto market rebound, partly fueled by geopolitical developments in Venezuela.
Over the weekend, U.S. authorities conducted operations in Venezuela, apprehending former Venezuelan president Nicolás Maduro and his wife. A spokesperson for the U.S. District Court for the Southern District of New York said they were transported to the United States and are scheduled to appear in federal court at noon on Monday.
Heightened geopolitical tension helped lift crypto prices. Dogecoin extended gains for a fifth consecutive day, while SHIB and PEPE paused their rallies. The outlook remains broadly bullish, though DOGE could briefly dip below $0.14 in the near term.
Dogecoin Could Drop Below $0.14
On the DOGE/USD 4-hour chart, the seven-day rebound has reinforced a bullish structure. The dog-themed meme coin has pushed back toward the 50-period exponential moving average (EMA) at $0.14339, suggesting the potential for further short-term gains.
If buyers remain in control, DOGE could target the 200-period EMA near $0.18202, aligning with an overhead supply zone roughly between $0.18100 and $0.18500.
Technical indicators are bullish. The relative strength index (RSI) sits around 73, indicating DOGE is moving into overbought territory. The MACD line continues to climb, and the green histogram bars confirm rising bullish momentum.
However, if buying momentum fades, DOGE could slip below $0.14339 and potentially retest the psychological $0.13 support level.