Dogecoin Could Take Off If It Can Break This Barrier: Key Price Target

Dogecoin slid to a low of nearly $0.168 last week before rising higher and trading around $0.19 on Tuesday morning, up about six percent in 24 hours. The bounce back occurred in tandem with Bitcoin's recovery from a technical low of $106,800 to just over $109,000, energizing short term bearish buyers across the entire memecoin complex. Dogecoin needs to conquer this price level. Technical analyst Kevin (@Kev_Capital_TA) argues that the Fib defense has bounced back the bullish structure—but only to a certain extent. "After falling to Fib .382, Dogecoin has finally found the necessary support along with BTC finding support at 100K," he wrote. "For the near future of **DOGE, there is still a lot to be done. The significant resistance in the .19-.21 cent range will need to be broken to return to that .26-.28 level. The indicators on the daily timeframe seem bullish."

Therefore, the behavior of Bitcoin remains a key factor. The spot price of BTC is fluctuating around $109,000 this morning and has so far defended the pivot level of $106,800, which some prominent analysts, including Michael van de Poppe, have marked as "a checkpoint for a potential bullish move." If Bitcoin extends to the $120,000 - $130,000 level, Kevin argues that Dogecoin will decouple from this norm "as dominance peaks and the market sniffs out loose monetary policy." Cryptocurrency expert Chandler ( "@ChandlerCharts" ) is not very optimistic. Comparing the price of DOGE over four days with DOGE/BTC, market capitalization, and the relative strength index, his chart highlights three previous compression phases—gray—when the memecoin did not maintain superior performance compared to Bitcoin. "Even if DOGE surpasses its November high, it wouldn't be great if DOGE/BTC ends up much lower than its November high," he warned. Chandler estimates that with BTC at $107,600, Dogecoin would need to print about $0.52 just to achieve a higher level compared to Bitcoin. "If BTC rises to $120,000-$130,000, DOGE needs to be around $0.60 or higher to make holding DOGE more meaningful than BTC."

That threshold emphasizes the importance of the $0.19-$0.21 supply zone that can be seen on the charts of both analysts. On Kevin's chart, it coincides with the Fib cluster 0.618-0.703; on Chandler's chart, it overlaps the upper edge of the eighteen-month value zone that has repeatedly rejected bullish polls. A decisive close above $0.211 would bring the May 11 peak at $0.2597 back and more importantly for the bulls. Currently, traders are monitoring two numbers: $106,800 for Bitcoin and $0.21 for Dogecoin. A complete breakout of the latter number will confirm Kevin's bullish outlook towards $0.26-$0.28 and, by extension, maintain the possibility of Chandler's higher peak scenario on the DOGE/BTC trade. Until then, the fate of the memecoin truly "remains in the hands of BTC's higher bullish potential."