Dogecoin targets a $0.12 breakout as the X Payments feature draws near.

crypthub

2 days ago

Market Recovery

The crypto market is cautiously rebounding, with Dogecoin posting a 0.48% rise to $0.09535. Short sellers were caught off‑guard, leading to $470,140 (about 4.9 million DOGE) in liquidations. The data suggest bearish bets were mistimed as buying pressure returns.

Dogecoin Price Action

DOGE hit a low of $0.086 on March 8 and has since shown a steady climb, logging three straight days of gains from March 12. A brief rally to $0.101 on March 13 was followed by a consolidation between $0.094 and $0.097. This tight range often precedes a stronger directional move.

Key Technical Levels

The 50‑day moving average near $0.10 is the first hurdle for bulls; a close above it could open a path to $0.12. Holding $0.12 may push targets toward $0.16, while a pullback could keep DOGE trapped between $0.09 and $0.12. A break below $0.09 would refocus support to the $0.0799 floor.

Potential Fundamental Catalyst

X (formerly Twitter) plans a payments feature slated for next month, sparking speculation due to Dogecoin’s ties to Elon Musk. The market views the news as a possible upside driver, though no official crypto‑integration confirmation exists yet. The impact remains uncertain.