Dogecoin price is entering an important phase on the daily chart, as the meme coin is preparing for another test of the resistance zone capped at $0.293. In recent months, this level has acted as a formidable sell wall.
In the latest analysis, the price structure suggests bulls may soon attempt to go through it again. If they succeed, DOGE’s price could rally, with a clear runway for $0.38 as its next major resistance, according to crypto analyst CW8900.
Currently trading around $0.228, the DOGE Coin price has shown a period of price consolidation just below this key resistance area. It has multiple red resistance bands between approximately $0.26 and $0.293.
Historically, selling pressure has intensified in this zone. This sell wall has already rejected previous bullish attempts, creating a ceiling that bulls have yet to overcome convincingly.
Dogecoin Price Structure Different From Previous Ones
The current Dogecoin price action is different from that of prior tests. DOGE has established a higher low structure, indicating accumulation and bullish interest. This follows after a strong move in early May, which pushed the token from sub-$0.20 levels into the $0.22–$0.25 range. The crypto market has absorbed the selling pressure with minimal price rejection. This resilience may be a signal that momentum is building for another breakout attempt.
Volume analysis provides more insight into this potential breakout. Although volume has reduced slightly after the recent consolidation, the previous bullish trend came with buying activity. This suggests that traders are accumulating on dips instead of distributing. If volume increases as Dogecoin price approaches $0.293, the probability of a breakout becomes higher.
READ MORE: Best Crypto Presales to Buy as Crypto.com Secures MiFID License for EU Derivatives
This resistance level is significant in the absence of any meaningful sell wall between $0.293 and $0.38. This gap on the chart could serve as a low-friction zone, where the price increases. Historically, such a gap in charts indicates future swift upward movement once the supply at the initial resistance dries off.
A New Base at $0.30 Is Possible
At the moment, the DOGE price needs a clean break from $0.293. If this happens, traders who have been sidelined will aggressively enter. Algorithmic systems may also interpret the breakout as a strong buy signal. This could push Dogecoin into a new price range, establishing a new base at $0.30. Here, a move to $0.38 will become much easier.
Nevertheless, the bulls still face a test. The $0.293 sell wall must be cleared with clear conviction. A failure at this point will lead to a clear retracement. DOGE could possibly revisit the $0.22 – $0.20. A successful breakout leads to a move toward $0.38. However, a downside is still possible if it fails to do so.
The growing momentum behind Dogecoin is also influencing the broader meme coin market, where presales are drawing heightened investor attention. Traders seeking the next big opportunity are flocking to new meme coin launches, hoping to mirror DOGE’s early success.
One standout is Bitcoin Pepe (BPEP), a presale project rapidly gaining traction for its unique spin on meme culture and DeFi utility. As Dogecoin tests major resistance, the buzz around fresh meme projects highlights a renewed appetite for high-upside plays across the sector.
Disclaimer: This is a sponsored post provided by a third party. The views, information, and claims presented do not represent those of Bankless Times. Bankless Times has not independently verified the accuracy of this content. Readers should conduct their own research before taking any action based on this information. This post does not constitute financial advice or recommendation and should not be treated as such.
Bitcoin Pepe (BPEP)
Bitcoin Pepe (BPEP) merges Bitcoin’s security with meme coin speed. It aims to build a layer 2 solution on Bitcoin. The presale has raised over $11 million, targeting Bitcoin maximalists to unlock $2 trillion in dormant capital for meme coin use.
Bitcoin Pepe’s core infrastructure is purpose-built for high performance, aiming to deliver transaction speeds on par with Solana while preserving the security and trust inherent to the Bitcoin blockchain. With the introduction of the PEP-20 token standard, the project lays the groundwork for a new generation of digital assets that blend cultural appeal with technical innovation.
Yet Bitcoin Pepe is more than fast transactions and internet humor. Its broader vision is to redefine meme coins by providing them with real-world utility. The team is constructing an ecosystem designed to integrate with DeFi, NFTs, and Web3 gaming, transforming memes from speculative tokens into functional elements of the decentralized web. Strategic partnerships with projects like CATAMOTO, GETE, and Crypto Hunters are already shaping this multidimensional platform. Backed by more than 10 partnerships, BPEP is weaving meme culture into the fabric of emerging tech.
Investor interest is rising fast. With 50% of its 2.1 billion token supply allocated to presale and staking, much of which has already been secured, time is running out. With just five days left before the official launch on May 31, 2025, early participants are rushing to secure their positions. Following the presale, Bitcoin Pepe is set to debut on top-tier centralized exchanges like OKX and Bybit, potentially unlocking liquidity and exposure.
