Price Action Heats Up as Bulls and Bears Clash
Dogecoin surged earlier this week, marking a notable 11.66% gain over the past seven days and climbing 2.77% in the last 24 hours. The price hit a high near the $0.30 mark before facing a firm rejection. Following this, DOGE corrected downward, consolidating near the $0.25–$0.26 range — a key battleground between bulls and bears.
Currently trading at $0.2563, Dogecoin is hovering close to the $0.26 resistance level. This zone has become a critical pivot. DOGE has made two recent attempts to break above this region, peaking at $0.26337 and $0.26512. Both efforts were met with selling pressure, suggesting local resistance is firmly in place.
Analysts from BitGuru note that a successful breakout above $0.265 could pave the way for a move toward $0.28. However, a rejection here might pull the price back to test the $0.24–$0.23 support zone again.
The structure hints at ongoing accumulation, with buyers stepping in on dips. Yet, repeated failures at resistance suggest supply pressure remains strong.
Zooming out, the daily chart from Binance presents a broader bullish setup. DOGE recently broke out of a long consolidation phase, forming higher lows while consistently challenging resistance — a pattern often seen during strong accumulation phases.
DeFi Metrics Remain Modest Despite Price Action
On the DeFi front, Dogecoin shows signs of early growth but lags behind competitors. As per DeFiLlama, Total Value Locked (TVL) in DOGE-based protocols stands at $22.58 million, down 0.77% in 24 hours. Daily network revenue sits at $3,046, while decentralized exchange volume remains flat at $0.
TVL growth began in late 2023, peaking just under $25 million in early 2024, signaling some traction in DeFi development. However, lack of DEX activity shows DeFi on Dogecoin is still nascent.
With a market cap of $38.64 billion and nearly full token circulation, DOGE’s valuation reflects strong community backing, but real‑world DeFi use is still catching up.