Key takeaways
- Tron’s TRX recently overtook Dogecoin to become the 8th largest cryptocurrency by market capitalization.
- DOGE has risen about 5.5% over the past 24 hours and could climb further if it clears a key resistance zone.
DOGE market cap hits $24 billion and looks to challenge TRX
Dogecoin (DOGE), the native coin of the Dogecoin ecosystem, ranks among the top-performing coins in the top 10 by market capitalization. The token has gained approximately 5.5% in the last 24 hours and is currently trading near $0.1626.
The memecoin has shown resilience despite broad market volatility tied to the recent US–Iran tensions. Last week it ceded the 8th spot in the market to Tron’s TRX.
If the current rally continues, DOGE could quickly reclaim ground from TRX. DOGE’s market capitalization stands around $24.3 billion, compared with TRX’s $25.6 billion. A rebound from the recent two-month low of $0.1508 could push Dogecoin toward fresh highs as technical indicators suggest further upside potential from this level.
DOGE may retest $0.17–$0.18 resistance
The DOGE/USDT 4-hour chart has turned bullish on the back of the ongoing market rally. At the time of writing, Dogecoin is trading around $0.16356 and may move higher in the short term.
Despite some inefficient price action, DOGE could revisit support near $0.15788 before attempting to push toward the next resistance at $0.18060. If the rally sustains, Dogecoin could reach the subsequent resistance level of $0.20 within the coming days.
The Relative Strength Index (RSI) sits near 56, indicating buyers are gaining control of the DOGE/USDT pair and could continue to drive price higher. MACD lines are also attempting to cross into positive territory, signaling increasing bullish momentum.
That said, geopolitical risks in the Middle East remain a wildcard and could deteriorate, reversing market sentiment. If selling resumes, DOGE may retest lower supports near $0.145.