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The Dogecoin price has surged 36% in the past week and climbed 4% in the last 24 hours to trade at $0.2363 as of 6:45 a.m. EST on a 5% increase in trading volume to $35 billion.
Dogecoin Price Breaks Out Of Bearish Trend, Signals Potential Rally Ahead
The Dogecoin price is showing promising signs of a bullish reversal. According to recent technical analysis on the daily chart, DOGE broke out from a prolonged bearish channel that began in early January and lasted until late March.
After weeks of consolidation in a key support zone between $0.11 and $0.15, Dogecoin is pushing upward with momentum that suggests a possible strong rally.
During the downtrend, DOGE lost over 50% of its value, forming lower highs and lower lows within a clearly defined bearish channel. That decline ended as price action found stability in the highlighted support zone, where accumulation and sideways movement took over for nearly six weeks.
Now, the Dogecoin price has broken above the range, establishing a Break of Structure (BOS) and a bullish Market Structure Shift (MSS), two strong signals that typically precede a new uptrend.
DOGEUSDT Analysis Source: Tradingview
Dogecoin Bulls Charge Ahead – $0.50 In Sight
The chart also reveals institutional trading concepts such as Imbalances (FVG) and Order Blocks (OB), indicating potential liquidity targets that may drive the next move.
The RSI is currently at 68.64, just shy of the overbought zone, showing strong buying pressure but leaving room for more upside before DOGE reaches extreme levels. A short-term pullback could occur, but the broader trend suggests bullish continuation.
If the current momentum holds, Dogecoin could soon test resistance at around $0.30. A break above that level opens the path to the higher resistance zone marked near $0.50, where the previous rally was rejected in December 2024. The green arrow on the chart projects this possible trajectory, signaling strong bullish sentiment among traders.
Despite the enthusiasm, traders should watch for a retest of the breakout zone around $0.20–$0.22, which would offer confirmation that the support is now acting as a base for further gains. If bulls maintain control, this could begin a fresh bullish cycle for Dogecoin after months of stagnation.
Solaxy Presale Closes On $36M – Next Crypto To Explode?
As Dogecoin investors prepare for a potential price rally, their attention shifts to a new Solana token called Solaxy (SOLX), a promising Layer-2 scaling solution for the SOL network.
Solaxy is picking up momentum after its presale exceeded $35.9 million, with $900K invested in just the last 24 hours, signaling strong investor confidence in its goal to address Solana’s ongoing network congestion challenges.
As Solana’s ecosystem continues to grow rapidly, it has been plagued by scalability issues that Solaxy aims to resolve with its innovative approach.
You're always flying first class with Solaxy. 🔥
The L2 $SOLX rocket will get you where you need to go. 🛸🪐https://t.co/mdaTX9ao5Z pic.twitter.com/A8QERwUNsQ
— SOLAXY (@SOLAXYTOKEN) May 6, 2025
Although Solana is praised for its high-speed transactions and low fees, increased demand, especially during high-traffic events like meme coin launches, has exposed weaknesses in the network, such as transaction failures and rising costs.
To ease the network’s congestion, Solaxy is introducing an off-chain transaction processing system, taking a cue from Ethereum’s Layer-2 scaling models.
This system will handle transaction bundling and processing off-chain, before finalizing transactions later on Solana’s mainnet, a strategy intended to boost transaction speed and enhance overall network performance.
Solaxy Bridges Ethereum And Solana, Offers 113% APY
The project also attracts growing investor attention due to its cross-chain capabilities, which bridge Ethereum’s robust DeFi ecosystem and liquidity with Solana’s high-speed, low-cost infrastructure.
By integrating the strengths of both blockchains, Solaxy aims to build a hybrid platform optimized for performance and scalability.
Popular crypto YouTube channel 99Bitcoins, with over 725k subscribers, says SOLX is one of the most promising new tokens that could achieve 100x gains after its launch.
Investors are also drawn to the project’s staking program, which offers a 113% APY.
Priced at $0.001724, SOLX tokens can be bought through the Solaxy website using crypto or bank cards.
Solaxy has also integrated with Best Wallet to make access even easier. Users can buy and manage their SOLX tokens directly in the app.
However, with a price hike looming in under 30 hours, the window for securing tokens at the current presale rate is closing fast.
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