Key Takeaways
- DOGE is trading above $0.146 after gaining about 18% over the past seven days.
- The leading memecoin could face a correction below $0.14.
DOGE Trades Above $0.14
Memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) have led a crypto market rally amid heightened geopolitical tensions in Venezuela.
The United States conducted an operation in Venezuela over the weekend, detaining former Venezuelan president Nicolás Maduro and his wife. They were brought to the U.S. and are scheduled to appear in federal court at noon on Monday, according to a spokesman for the U.S. District Court for the Southern District of New York.
This geopolitical shock helped lift the crypto market: Dogecoin extended its gains for a fifth straight day while SHIB and PEPE paused. The near-term outlook remains bullish, though DOGE may experience a modest pullback below $0.14 before resuming any further upside.
Dogecoin May Retrace Below $0.14
The 4-hour DOGE/USD chart looks bullish and healthy following Dogecoin’s seven-day advance. The dog-themed memecoin has continued its recovery above the 50-period exponential moving average (EMA) at $0.14339 and could move higher in the near term.
If bulls keep control, DOGE could target the 200-period EMA around $0.18202, roughly aligned with the upper supply zone between $0.18100 and $0.18500.
Technical indicators are supportive. The RSI near 73 indicates DOGE is approaching overbought territory. MACD lines continue to rise alongside green histogram bars, signaling strong bullish momentum.
However, if bullish momentum fades, DOGE could slip below $0.14339 and risk a retest of the psychological $0.13 level.