Dogecoin Eyes $0.30 After Breakout: But Is A Pullback on the Cards?

Dogecoin has made its way back into the spotlight as investor sentiment heats up following 21Shares’ filing for an ETF with the U.S. Securities and Exchange Commission. This has rekindled optimism in the memecoin’s numbers, driving a sharp uptick in trading activity. Marketers are now keen about the price movement due to key technical indicators suggesting further bullish potential, even as a large token unlock event looms.

Dogecoin (DOGE) Price Analysis:

Dogecoin is presently trading at $0.2368, with a 2.98% surge in 24 hours, +37.56% in the past week, and +43.74% over the last month. The memecoin’s market cap now stands at $35.27 billion, a 29.2% rise, even as 24H volume dipped by 13.73% to $2.72 billion.

The price spike triggered over $14 million in short liquidations, confirming a head-and-shoulders breakout, as evident on the charts. Moreover, a bullish flag pattern now instills hope of an upward trajectory. On an optimistic note, DOGE price could target $0.28 next, followed by $0.30. However, between May 12–19, nearly 95.9 million DOGE tokens could be unlocked, introducing uncertainty and the potential for sharp price swings to $0.21.

Also read our Dogecoin (DOGE) Price Prediction 2025, 2026-2030!

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