Key Points
- DOGE trades above $0.146 after gaining 18% over the past seven days.
- The leading memecoin could pull back below $0.14 in a short-term correction.
DOGE trades above $0.14
Meme tokens such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) have led a recent rally in the cryptocurrency market amid renewed geopolitical tensions in Venezuela.
A U.S. operation in Venezuela over the weekend resulted in the arrest of former Venezuelan president Nicolás Maduro and his wife. They were transported to the United States and are scheduled to appear in federal court at noon on Monday, according to a spokesperson for the U.S. District Court for the Southern District of New York.
That development helped boost risk appetite in crypto markets, with Dogecoin extending gains for a fifth consecutive day while SHIB and PEPE showed signs of consolidation. Overall sentiment remains positive, though DOGE may face a short-term retracement below the $0.14 level.
Dogecoin may retrace below $0.14
The DOGE/USD 4-hour chart looks bullish and structurally constructive after Dogecoin’s seven-day advance. The dog-themed memecoin is trading above the 50-period exponential moving average (EMA) at $0.14339 and could continue higher in the near term.
If bulls maintain upward pressure, DOGE could target the 200-period EMA at $0.18202, which aligns with an overhead supply zone roughly between $0.18100 and $0.18500.
Technical indicators support the bullish case. The RSI around 73 indicates DOGE is approaching overbought territory. MACD lines are rising and accompanied by green histogram bars, signaling strengthening bullish momentum.
However, if bullish momentum fades, DOGE could drop below the $0.14339 support and risk retesting the psychologically important $0.13 level.