The price of Dogecoin (DOGE) is showing signs of recovery after a recent decline. The current market situation has become more favorable for this crypto asset.
Round Bottom Formation in Dogecoin Price
After a prolonged decline from a high of $0.24290, the price of Dogecoin entered a consolidation phase, establishing multiple lower highs at $0.20759 and $0.20500, indicating sustained selling pressure. The asset dropped to a new local low near $0.13009 before the price began recovering, first touching $0.16661 and correcting to $0.15217. A round bottom structure began to take shape, often viewed as a sign of market recovery after heavy bearish activity.
Price Consolidation Near Support Levels
Following the breakout, DOGE entered a range-bound phase between $0.17612 and $0.18300, reflecting market indecision, where buyers and sellers are currently balanced. Support around $0.1750 was tested multiple times but held strong. Resistance at $0.18300 has capped several upward attempts, and a break above this level could attract additional buyers and drive a rally toward $0.19000 and beyond.
Increase in Trading Volume and Blockchain Activity
Trading volume for Dogecoin saw a 35% increase in 24-hour volume on April 28, 2025, totaling $1.2 billion, indicating that participants are positioning for a potential move. Open interest in DOGE futures markets has also increased as traders speculate on the next big move. The rise in active addresses and substantial increases in transactions exceeding $100,000 show rising activity on the blockchain.
The overall situation for Dogecoin indicates a potential recovery, suggesting a movement towards price increases. The strength of support levels and rising trading volume makes the current market situation more promising.
