Dogecoin is currently trading at $0.1540 after facing a recent decline from a high near $0.30. The chart shows that DOGE is breaking out of an ascending parallel channel, indicating a change in market movement.
Dogecoin tests key support
According to market observations, the price is now trading at a critical support range at $0.1540, which aligns with the 0.618 Fib retracement level. This level has been an essential support zone in the past, and its significance is high as DOGE trades within a key price range.
The chart also shows that DOGE is nearing the lower boundary of its ascending channel, suggesting the potential for a price bounce if it holds above this support. If the price stabilizes at $0.1540, it could pave the way for another upward movement toward the upper boundary of the channel.
Market movements over the next few days will depend on whether DOGE can maintain its position above the $0.1540 level. Should DOGE hold steady, this level is likely to act as a strong support in the near term, with a possible resumption of upward momentum.
What is the current market trajectory?
Tracking the current market action, Dogecoin (DOGE) is currently priced at $0.1528, reflecting a 4.28% increase over the past 24 hours. The cryptocurrency’s market capitalization stands at $22.74 billion, while the 24-hour trading volume is $2.13 billion, showing a 36.32% decrease.
The token’s circulating supply is 148.76 billion DOGE, which matches the total supply. The price chart indicates a steady upward movement in the value of DOGE, as seen in the recent data. From April 7 to April 8, 2025, the price showed gradual increases.
During this period, the market saw some choppiness, which included a small dip at 9:00 PM on April 7. The volume to provide market cap ratio for the last 24 hours is posted at 9.44%, indicating moderate activity. With its profile score at 65%, DOGE has a relatively stable market presence, but not among the leading cryptocurrencies.
