With the formation of a new 52-week high, reaching $0.4389, the last time this occurred was in May 2021, the price of Doge has been showing strong upward momentum. Doge's market capitalization has exceeded $53 billion, accounting for nearly half of the $110 billion MEME coin market value.

However, the pullback in Bitcoin has led to a slight decline in the price of Doge. Will this pullback lead to a bearish reversal for the largest MEME coin? Learn more about Coinpedia's latest Doge price analysis.

Doge Price Performance

With the breakout of the bottom, the rebound has exceeded the 61.80% Fibonacci level of $0.23. Last week, the price of Doge increased by 83.64%, and this week it has risen by 32% again.

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Currently, the price of Doge is $0.3670, maintaining its dominance above the 78.60% Fibonacci level of $0.3463. The bullish reversal of the meme coin started from the 23.60% Fibonacci level, slightly below the psychological barrier of $0.10.

In less than three months, the price of Doge has increased by nearly 300%. The bullish trend is approaching the historical high of $0.73905 with strong momentum.

With the increase in buying pressure, the 50-week and 200-week SMA lines have formed a golden cross with the 100-week SMA. Additionally, the MACD and signal line are also rising in a straight line, forming a positive cross with the bullish candlestick chart.

Doge Price Targets

If the bullish market maintains a closing price above $0.3463 this week, the price of Doge may continue to rise to the psychological level of $0.50.

On the other hand, an intraday pullback of 3.24% may lead to a slight retest of the $0.3463 or $0.30 level. This will provide an opportunity for traders who hope to see a reversal in price action after the retest.