On September 23, 2025, Dogecoin (DOGE) displayed early signs of strength, flashing a TD buy signal after defending the $0.24 support level. This technical indicator, often associated with market reversals, hinted at short-term recovery potential. DOGE was consolidating within an ascending triangle pattern with resistance near $0.29; a breakout above this level with strong volume could propel the price toward $0.50, while failure might trigger a retest of support at $0.21.
Adding to the optimistic sentiment, Dogecoin's Stock-to-Flow ratio spiked to 246, indicating tightening supply conditions that historically correlate with upward price movements. Meanwhile, funding rates on Binance remained positive at 0.002%, reflecting sustained long positions among traders, though this also raised risks of amplified volatility if momentum falters.
In contrast, analysis from September 22, 2025 highlighted bearish concerns, as DOGE confirmed a double-top pattern at $0.27 after an 11% price drop in 24 hours. Analyst Merlijn The Trader warned of a breakdown target near $0.238, which was subsequently reached. However, other analysts like Trader Tardigrade pointed to held support at $0.24–$0.25 and bullish Ichimoku indicators, suggesting potential momentum toward $0.30 or higher. On-chain data showed the MVRV ratio rising but still mid-cycle, with long-term growth potential up to $1.20.