Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

• May’s range-high and a bearish OB were key hurdles to $0.1.
• Trading volumes surged >1 billion DOGE since April highs.

If you’re a memecoin enthusiast and trader, you might have noticed Dogecoin [DOGE] and Shiba Inu [SHIB] decoupling from the overall market direction.  While the rest of the market sustained sell pressure amidst weak Bitcoin [BTC], DOGE and SHIB posted impressive gains in the last few days. 

Is your portfolio green? Check out the DOGE Profit Calculator 

In particular, DOGE maintained its recovery since mid-June, posting over 40% gains after rising from $0.053 to $0.079. But the memecoin faced two more roadblocks before hitting $0.1. 

Bulls climbed above a key price level

Dogecoin sustained losses in May and June amidst increased regulatory and macroeconomic uncertainty. But the May/June losses have been reversed after DOGE retested the May highs of $0.082. 

Besides, the price action climbed above a critical price reaction zone of $0.0724 – $0.0763 (white) on the daily chart, reinforcing the bullish price action. The price zone was a key support in Q2 but was flipped to resistance in May. But it was flipped to support on 25 July, reinforcing bulls’ leverage.

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Author: Benjamin Njiri

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