Dogecoin Set to Surge : Is $0.22 Just Hours Away ?

Dogecoin (DOGE) is roaring once again, surging dramatically towards a target of $0.2290. Fueled by a bullish breakout and strong fundamentals, could this memecoin aim for a 45% increase? Analysis.

Written by Charles Ledoux

Translated on April 23, 2025 at 10:41 by Sarah

Digital illustration of cheerful Shiba Inu.

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Dogecoin Makes a Strong Comeback with a Potential 45% Upside

After hitting a low at $0.1275, Dogecoin (DOGE) surged by double digits, reclaiming lost ground. Technical analysis now suggests that the memecoin could aim for an ambitious target of $0.2290, representing a 45% increase.

Analysis of Dogecoin’s daily chart reveals the formation of a descending wedge since November 2024. This pattern, characterized by two converging trendlines, often precedes a bullish breakout.

Recently, DOGE broke above the upper bound of this wedge, signaling a potential breakout. This sets the stage for a technical target around $0.2285.

Furthermore, the Relative Strength Index (RSI) has crossed the 50 threshold, while a double bottom has formed around $0.1445. The stochastic oscillator also indicates an overbought zone, all technical indicators confirming the bullish trend.

The Mean Reversion Channel indicates a resistance zone from $0.214 to $0.248. This is where the price might reverse and turn downwards. If a fallback occurs, DOGE could drop to $0.11. Therefore, caution is advised in this zone if reached.

Solid Fundamental Catalysts

Several fundamental factors could support Dogecoin’s advancement in the coming weeks:

3 major companies 21Shares, Bitwise and Grayscale are on the race to file #Dogecoin ETF.

More joining. pic.twitter.com/XHUrVq0T6N
— dogegod (@_dogegod_) April 12, 2025

SEC Leadership Change: Paul Atkins taking the helm at the SEC could expedite the approval of a Dogecoin ETF, triggering massive inflows of institutional capital.
Whale Accumulation: On-chain data reveals a trend of DOGE accumulation by large whales, an encouraging indicator for the future.
Favorable Macroeconomic Environment: Economic slowdown in the US could prompt the Federal Reserve to ease its monetary policy, historically beneficial for cryptocurrencies.

In conclusion, with a strong technical setup and numerous fundamental catalysts, Dogecoin appears well-positioned to target new short-term highs. The $0.2290 objective is now a credible target to closely monitor for investors.

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Charles Ledoux

Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.

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