Dogecoin (DOGE) has surged to $0.1825, sparking speculation over whether the iconic cryptocurrency could soon test the $0.2131 resistance and potentially push further toward $0.25.

A surge in investor attention accompanies both Bitcoin, which stays above $93,000, and meme coins experiencing their market revival.

The market capitalization of this sector achieved a 8.60% increase throughout the last 24 hours and reached $56.47 billion. Dogecoin leads the market with its $27.20 billion market valuation; its daily growth has reached 6.30%.

Dogecoin Surges 12% Following Wedge Breakout

An uptrending break above a falling wedge pattern caused Dogecoin to surge by 12% during April 22. A strong bullish engulfing candle pattern broke DOGE through both the 50-day exponential moving average (EMA) and the 23.60% Fibonacci retracement level which sits at $0.1820.

Dogecoin finds itself in a decisive crossroads at present. A price battle between bulls and bears is currently unfolding because DOGE is working to build support in the region of its vital Fibonacci level.

Dogecoin Hits $0.1825, Bullish Momentum Builds Toward $0.25

Momentum indicators indicate bullish trends because the MACD and signal lines point toward positive zones while fresh green histograms start to appear. Technical analyst CryptoPulse predicts that once Dogecoin breaches its 50-day EMA it will challenge the $0.20 resistance level along with the 100-day EMA.

Dogecoin maintains its position above the fundamental resistance points which creates the possibility of reaching its next Fibonacci target at $0.2131.

DOGE Bulls Control 63.66% Market

Market sentiment shows optimism through its derivatives sector. Long positions on Dogecoin have recorded an unprecedented increase based on Coinglass data. The ratio between long and short positions has soared to 1.7518 as the open interest data reveals long position holders maintain a 63.66% control. Market participants increasingly demonstrate their belief that Dogecoin will continue to gain value.

Dogecoin Hits $0.1825, Bullish Momentum Builds Toward $0.25

The cryptocurrency analyst Trader Tardigrade expects a future market growth of Dogecoin reaching 600%. The analyst established their $0.93 price target based on verifying previous 200% and 400% surge support trendlines from the past.

Dogecoin Hits $0.1825, Bullish Momentum Builds Toward $0.25

Technical market forecasts alongside investor sentiment suggest Dogecoin could see significant gains during the upcoming period, even though such huge price appreciation remains theoretical. How successfully Dogecoin can advance beyond $0.2131 for a run at $0.25 depends on market-wide backing together with sustained bullish momentum.