After a choppy weekend, Dogecoin has bounced back with a sharp 7% move—sparking fresh chatter about whether meme coins are gearing up for another breakout. These tokens, often dismissed as jokes, have a history of surprising the market when sentiment flips. As the broader crypto space searches for its next catalyst, some analysts believe meme coins might once again steal the spotlight. Here’s a look at whether Dogecoin and its peers could lead the next rally. Dogecoin Faces Challenges Amid Market Volatility Source: tradingview Dogecoin is currently trading between 14 to 17 cents. This price range suggests sluggish movement, with bulls appearing less aggressive. The nearest hurdle for its price is 20 cents, which it struggles to reach. The market shows a downward trend, with the coin's value falling over 14% in a week and nearly 33% in a month. There's further evidence of bearish trends with a six-month drop over 55%. Its 10-day price average is slightly below its 100-day average. If momentum builds, we might see a rally to the 24-cent mark, marking a potential growth from the low end of over 70%. However, support at around 12 cents could offer some relief. Conclusion Dogecoin’s recent rebound may seem modest on the surface, but it hints at deeper undercurrents building within the meme coin sector. With sharp volatility and strong community backing, meme coins have a unique ability to flip market sentiment fast. If Doge breaks key resistance and enthusiasm spreads across related tokens, we could see meme assets leading the charge into the next bullish phase. Underestimating them—again—might come at a cost. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
