Dogecoin, Restarting the Push to Break $0.1...Riding Again on $100 Billion Inflow

▲ Dogecoin (DOGE)/AI-generated image

Dogecoin has recovered the $0.093 level, strengthening its rebound momentum by riding the $100 billion capital inflow into the global virtual asset market.

According to crypto media outlet CoinMarketCap on April 14 (local time), Dogecoin (DOGE) recorded $0.09387 as of 4:53 PM on that day, marking a 2.34% increase from the previous day. While it briefly fell to $0.09025 during intraday trading, strong buying interest quickly led to a rebound, and it is currently attempting to break through overhead resistance near its daily high.

This surge is attributed to the recovery of risk appetite that has spread across the virtual asset market. In particular, expectations for progress in peace talks between the US and Iran stimulated investor sentiment, accelerating capital inflows. Bitcoin (BTC) and Ethereum (ETH) rising by 4.7% and 8.1% respectively, pushing the market capitalization beyond $2.6 trillion, are also analyzed as key factors driving Dogecoin's ascent.

Market risk indicators are also sending positive signals. The virtual asset risk index has entered the low-risk zone for the first time since mid-March, indicating that buying power is regaining market dominance. In this environment, Dogecoin, as a prominent meme coin, is directly benefiting from the recovery in investor sentiment.

From a technical perspective, the $0.094 zone emerges as a critical turning point. Dogecoin is currently testing this resistance level, and the Relative Strength Index (RSI) is also above the 50-line, indicating an upward advantage. If it closes above $0.094, there is potential for further upside to the next target zone of $0.10.

Conversely, if a short-term correction occurs, $0.09025 is expected to act as a major support level. The prevailing assessment is that the upward trend remains valid as long as this zone holds.

Positive changes are also detected in on-chain data. Increased transactions from whale investors holding large amounts of funds are observed, indicating improved liquidity. According to CoinMarketCap, Dogecoin's market capitalization is approximately $14.37 billion, maintaining its 9th rank in the market.

Ultimately, the short-term direction of Dogecoin largely depends on whether it breaks through the $0.094 resistance level. Amid the current market environment, which combines global capital inflows and geopolitical variables, investors are keenly watching whether Dogecoin can break out of its range and enter a new upward trajectory.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*