Dogecoin, once the darling of the internet, has quietly been trying to regain some semblance of dignity. After a rollercoaster ride that dragged its price down to a depressing $0.134 in early December, it’s now crawling back, trading between $0.14 and $0.15, much like a wounded soldier returning to the battlefield with half its armor missing.
In the midst of this, a chart analysis by crypto analyst BitGuru on X has raised hopes. The meme coin might be laying the groundwork for a grand comeback, hinting at a possible rebound toward $0.2. A comeback, you say? We shall see.
A Recovery Attempt Begins To Take Shape
The daily candlestick chart shows Dogecoin attempting to climb out from the depths of its demand zone. It briefly dipped below this zone on December 1, like a person slipping on ice, but then somehow, miraculously, rebounded. This bounce is crucial because it indicates that Dogecoin might still have some fight left in it. A higher low compared to its earlier pitfall suggests that, perhaps, just maybe, the bulls are waking up from their slumber.
As of now, Dogecoin’s price is edging back toward the middle of its broader range, as indicated by the green and teal zones on the chart. The recent bullish candle closes on the daily chart hint that Dogecoin is trying to break through the mid-range resistance. If you didn’t know better, you might even say Dogecoin is trying to make a dignified comeback-like a middle-aged man with a midlife crisis buying a motorcycle.
The chart also reflects price expansions from July and September, which followed after Dogecoin created a higher low. Could history repeat itself? If it does, we might just be witnessing a doggy miracle.
Dogecoin On A Path To $0.188
BitGuru highlights the higher-low structure as the first glimmer of hope for Dogecoin’s recovery. With the price slowly creeping away from the demand zone, the next critical point to watch is the dotted mid-range line on the chart, currently at $0.188. A move above this level would signal that buyers have regained some control-finally-of the market. This could be the beginning of a broader recovery, and who knows, maybe Dogecoin will once again flirt with the $0.20 mark.
At its current price of $0.148, reaching $0.188 and $0.20 would mean gains of 27% and 35% respectively. For Dogecoin, this could be a dream come true, provided the market doesn’t crash like it always does. If there’s even a hint of bullish momentum, these levels could be within reach by the end of the year.
But let’s not get carried away. Dogecoin’s fate is still tied to the broader crypto market, especially Bitcoin. So, unless Bitcoin decides to play nice, Dogecoin’s price may continue to wander aimlessly through the desert. Still, the recent signs of recovery-rising trading volume and all-are enough to suggest that a bullish setup is forming. Will it stick? Only time will tell.
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2025-12-05 21:16