Dogecoin (DOGE) has recently experienced a bullish momentum with a price increase of nearly 5% in early June 2025, trading around $0.1879. Technical indicators suggest that if DOGE closes above its daily resistance, it could continue to rise towards the $0.19 mark and potentially beyond. On the midterm weekly chart, a bullish candle closure with a long wick may empower buyers to push the price to around $0.20.
Despite this optimism, the broader cryptocurrency market has shown signs of stress, especially with Bitcoin (BTC) testing critical support levels between $98k and $101k. This weakness in BTC could exert downward pressure on DOGE since altcoins commonly follow Bitcoin's trends. DOGE’s price has fallen approximately 63.9% since December 2024, when it reached $0.48562, currently trading near $0.17557 according to some reports.
Additional market sentiment is complicated by a recent public dispute between influential figures Elon Musk, a notable DOGE supporter, and former U.S. President Donald Trump, whose cautious stance on crypto regulation might dampen enthusiasm. Musk’s positive endorsements have historically triggered DOGE price surges, but regulatory concerns might counterbalance this effect.
Technical analysis remains mixed: while daily and hourly charts show bullish tendencies, lower timeframes have bearish undertones. The meme coin is near significant support levels between approximately $0.1519 and $0.1719, with critical resistance around $0.192 that DOGE must hold as support to invalidate bearish trends.
Overall, DOGE’s near-term outlook relies heavily on Bitcoin’s ability to stabilize and break through resistance, along with continued community engagement and possible new integrations. Investors should remain cautious due to the cryptocurrency’s inherent volatility and unpredictable price swings.