Technical analysis reveals Dogecoin exhibiting bullish chart patterns suggesting potential upward momentum. A bull pennant formation combined with a golden cross signal on the hourly timeframe indicates strengthening breakout conditions, projecting a potential price target near $0.185.
The cryptocurrency has maintained stability above the critical $0.165 to $0.17 support zone. This consolidation establishes a foundation for potential price appreciation toward previous highs around $0.48. The Relative Strength Index (RSI) shows an upward trajectory, reflecting steadily increasing buying pressure.
Supporting technical data reveals compelling on-chain metrics. Santiment reports Dogecoin’s MVRV z-score currently signals undervaluation, while its 365-day Median Days In Address (MDIA) metric has climbed to 152 days – indicating holders are demonstrating longer-term investment horizons.
Additional technical indicators reinforce the constructive outlook. Both Moving Average Convergence Divergence (MACD) momentum readings and sustained trading above the key 200 Exponential Moving Average (EMA) provide dynamic support levels. This confluence of technical and on-chain evidence suggests growing market confidence in Dogecoin’s near-term trajectory.