Dogecoin defies market shake-up, but can it prevail against the TRUMP hype?

Dogecoin’s 50-day MA (at $0.36853) maintained a healthy gap above 200-day MA (at $0.21111) amid rising volume.
DOGE remained dominant, with over $55 billion in market capitalization.

Dogecoin [DOGE] remains dominant, despite recent competition from the launch of TRUMP and MELANIA memecoins.

While these new entrants have sparked speculation and activity, DOGE has demonstrated resilience, with its price maintaining an upward trajectory.

But can DOGE sustain its relevance in an evolving memecoin market?

Dogecoin’s technical structure signals power move

Dogecoin was trading at $0.37834 at press time, reflecting a 5.55% increase in the last session.

The attached charts showed a clear ascending channel pattern, with the price consistently bouncing between the support and resistance levels.

This formation suggests that DOGE could be gearing up for further gains if it maintains its position within the channel.

Source: TradingView

The 50-day moving average of $0.36853 has acted as solid support, and the price remains comfortably above the 200-day moving average of $0.21111, signaling bullish momentum.

Furthermore, the Relative Strength Index (RSI) hovered around the neutral zone, indicating that DOGE was not yet overbought and had room for additional upside.