Dogecoin recovered after a sharp drop and rose by 17% in a day, reaching an intraday high of $0.21. Previously, the meme token had fallen by 33% over the week and hit a three-month low at $0.18.
Despite the recent growth, Dogecoin is still trading 54% below its all-time high, which was recorded in December 2021 at $0.46.
The crypto market revives after Trump’s statements
The Dogecoin rebound coincided with the recovery of the entire crypto market, triggered by new comments from Donald Trump. The US President stated that Washington and Beijing are negotiating 100% tariffs on the import of rare earth metals, which alleviated concerns about an escalation of the trade war.
After this statement, investors began actively returning to risk assets. Bitcoin rose above $115,000 again, Ethereum increased by 9%, and BNB by 16%. The total market capitalization once again exceeded $4 trillion, confirming the industry’s resilience after the recent crash.
Investors are withdrawing Dogecoin from exchanges
According to CoinGlass, since the beginning of October, investors have withdrawn more than $440 million DOGE from centralized exchanges — and this is already the tenth consecutive day of net outflows. This behavior is usually interpreted as a sign of confidence in the asset: holders are moving tokens to personal wallets, reducing supply on the market and decreasing selling pressure.
Traders note that sentiment around Dogecoin has improved, and the holder community is showing strong confidence in long-term growth. This creates favorable conditions for a new momentum if overall market demand persists.
Technical signals point to continued growth
On the four-hour chart, Dogecoin is forming a ‘bullish pennant’ pattern, which often precedes a new round of growth after consolidation. The price is testing the upper boundary of the pattern at $0.21, and a breakout of this level could open the way to $0.25 — an increase of about 19% from the current price.
The MACD indicator has entered the buy zone, signaling a shift in momentum towards the bulls. Meanwhile, the RSI remains close to the neutral mark, indicating room for further upward movement to the overbought zone.
Analysts note that the $0.25 mark coincides with the 200-day moving average, a key resistance level that often serves as an indicator of a medium-term trend change. However, if Dogecoin falls below $0.20, the pattern may be invalidated and the scenario will become bearish again.
What’s next?
Dogecoin is showing signs of recovery along with the rest of the market, and the improved macroeconomic backdrop is supporting investor interest. If buyers can keep the price above $0.21, the coin may continue moving towards $0.25 and consolidate in a new range.
In case of a correction, the key support zone will remain at $0.20, while a breakout above $0.25 will strengthen Dogecoin’s position and could return it to the $0.30 level in the coming month.
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