Key Takeaways
- DOGE is trading above $0.146 after gaining 18% over the past seven days.
- The leading memecoin could face a correction below $0.14.
DOGE Trades Above $0.14
Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) are driving gains across the cryptocurrency market amid geopolitical developments in Venezuela.
U.S. authorities carried out an operation in Venezuela over the weekend that resulted in the capture of former Venezuelan president Nicolás Maduro and his wife. They were brought to the United States and are scheduled to appear before a federal court at noon on Monday, a spokesperson for the U.S. District Court for the Southern District of New York said.
That geopolitical pressure helped lift the crypto market, with Dogecoin extending gains for a fifth consecutive day while SHIB and PEPE take a breather. The near-term outlook remains positive, but DOGE could see a modest pullback below $0.14 in the coming sessions.
Dogecoin Could Dip Below $0.14
The four-hour DOGE/USD chart shows a bullish and orderly advance influenced by Dogecoin’s seven-day rally. The dog-themed memecoin has extended its recovery above the 50-period exponential moving average (EMA) at $0.14339 and may continue higher in the near term.
If buyers remain in control, DOGE could target the 200-period EMA near $0.18202, which aligns with a supply zone between $0.18100 and $0.18500.
Technical indicators are bullish. A 73 RSI indicates DOGE is moving into overbought territory. MACD lines continue to rise alongside green histogram bars, signaling increasing bullish momentum.
However, if bullish momentum fades, DOGE could fall below $0.14339 and risk retesting the psychological support around $0.13.