NewsBTC

9 May 2025

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Dogecoin Shows Strong Bullish Momentum Signals, According to Analyst

Dogecoin (DOGE) may be poised to break out of its three-year consolidation phase, as indicated by recent analysis from pseudonymous analyst Maelius. Key points include:

• The DOGE/USDT pair is currently at $0.1828, up 7.2% this week.
• Long-term moving averages show the EMA-50 at $0.203 and EMA-200 at $0.138.
• The price has remained above the EMA-200, which coincides with a demand zone between $0.11 and $0.20.
• A trendline connecting several swing lows adds additional support, with a recent pullback bouncing off key support levels.
• Maelius identifies a nested Elliott Wave structure suggesting a potential rise to around $1 in the third wave, followed by a correction below $0.70, then culminating between $1.30 and $1.70 in the fifth wave.
• The WaveTrend Oscillator indicates bullish momentum, having recently crossed above its slower counterpart, signifying a potential market uptrend.

Current trading price for DOGE is $0.18445.