Dogecoin is currently trading around $0.14, reflecting a 2.6% drop over the past 24 hours. During this time, the price moved between a low of $0.1388 and a high of $0.1449, showing relatively calm short-term price action. Despite the daily decline, Dogecoin maintains a solid market presence with a market capitalization of approximately $23.56 billion, down about 2.65% on the day.
Looking at a broader timeframe, DOGE has posted modest gains. Over the last week, the price is up 0.4%, and over the past two weeks, it has climbed nearly 8.8%. Even with the recent pullback, the $0.139 support level continues to hold, suggesting buyers are still defending this zone.
Can Dogecoin Hold Above $0.139?
On the weekly chart, Dogecoin is trading near $0.1396 but is facing notable resistance. The Parabolic SAR indicator is positioned well above the current price, around $0.257, which signals that upward momentum is limited for now. As long as this indicator remains above price action, a sustained bullish move appears unlikely.
For Dogecoin to regain stronger upside momentum, it would need to push through this resistance. If that happens, the next area to watch would be near $0.15, a level that has previously capped rallies. Breaking above $0.15 could open the door for a move toward $0.16 or potentially higher.
Could Dogecoin Reach $9?
Some analysts remain optimistic about Dogecoin’s long-term potential. Trader Tardigrade, a well-known commentator on X, pointed out that DOGE’s Relative Strength Index has recently pulled back in a way that mirrors past market cycles. On the two-week chart, the RSI previously surged into overbought territory, formed two peaks, then corrected before rebounding strongly.
According to this historical pattern, the current RSI retracement could be setting the stage for a much larger move if momentum builds again. While a $9 price target is highly ambitious, proponents of this view believe similar setups in the past have preceded major rallies.
