Key takeaways
- DOGE is up nearly 1% and is now trading above $0.10.
- The rally comes as memecoins posted gains amid a broader crypto market recovery.
Memecoins surge higher as market rebounds
Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) extended their recoveries on Thursday after recent pullbacks.
Improved market sentiment helped lift leading memecoins, with renewed hope about a potential U.S.–Iran agreement adding to the wider crypto rebound.
Dogecoin shows a solid technical setup after bouncing off a key support zone and is approaching an important moving average that could influence its next directional move.
Dogecoin price outlook: DOGE rebounds from key support zone
On the DOGE/USD 4-hour chart the short-term trend remains cautious despite Dogecoin gaining roughly 1%. The token was rejected at the weekly resistance near $0.119 last week, which led to an 11% drop into Tuesday.
DOGE has since recovered above $0.10 after retesting a critical support area around the prior trendline breakout, which aligns with daily support near $0.102.
The coin is currently approaching the 200-day Exponential Moving Average (EMA) at about $0.106.
A daily close above the 200-day EMA would reinforce bullish momentum and could set the stage for a retest of the $0.119 weekly resistance.
Momentum indicators show buyers stepping in: the Relative Strength Index (RSI) sits near 43, suggesting neutral conditions after the pullback.
However, the Moving Average Convergence Divergence (MACD) remains in negative territory, indicating upside momentum is still fragile and may encounter resistance from overhead averages.
If sellers re-emerge and DOGE falls below the $0.102 support, the downside could extend below the psychological $0.10 level.
For now, DOGE is in a short-term recovery. Traders will be watching whether it can reclaim key technical levels—particularly a daily close above the 200-day EMA—to confirm a more sustained bullish continuation.