- Dogecoin surged 16% this week to $0.16, fueled by easing geopolitical tensions and positive crypto remarks from Fed Chair Powell.
- With a key resistance at $0.168 in sight, DOGE could rally toward $0.20 and potentially overtake Tron in market cap.
Dogecoin (DOGE) has gained 16% this week, surging to $0.16 and narrowing the market cap gap with Tron (TRX) to just $1 billion. This impressive move follows two key events: former President Donald Trump’s ceasefire announcement between Israel and Iran, and U.S. Federal Reserve Chair Jerome Powell’s remarks to the Senate Banking Committee labeling crypto assets as “maturing.”
These developments have lifted investor sentiment, especially across retail-driven markets, where Dogecoin thrives. With a current market valuation of $24.9 billion, DOGE is now in 9th place on CoinMarketCap, trailing just behind Tron’s $25.9 billion.
Technical Setup Suggests DOGE Could Hit $0.20
On the charts, DOGE is trading at approximately $0.166 and approaching a major resistance level at $0.168. This price range between $0.155 and $0.168 has become a key accumulation zone, signaling strong buyer interest.
If Dogecoin breaks and holds above the $0.168 resistance, analysts project a rally toward the next pivot level at $0.21. This would represent a 25% increase from current prices. The Bulls and Bears Power (BBP) indicator is slightly positive at 0.00437, hinting at buying strength that could fuel further gains.
Technical traders are watching closely, as a clean breakout could trigger algorithmic buying and short squeezes, potentially accelerating DOGE’s move toward the $0.20 psychological level. However, failure to surpass the resistance could lead to a pullback to the $0.15 range.
Dogecoin’s rally may help it overtake Tron, backed by strong retail support and positive macro signals. All eyes are on DOGE as it nears $0.168, aiming for a potential breakout toward $0.20.