Dogecoin price analysis (Bullish) — 0.23 USDT (+2.34% 24h)

DOGEUSDT is showing modest bullish momentum with a 2.34% gain over 24 hours, currently trading at $0.23196. The price sits just above the 20-day SMA ($0.23087) and has cleared the 50-day SMA ($0.22892), indicating potential near-term support. RSI at 51.92 is neutral, leaving room for movement in either direction without immediate overbought/oversold pressure. The 24-hour volume of $278M is healthy but not explosive, suggesting cautious accumulation rather than FOMO-driven buying. Volatility remains elevated at 3.86%, typical for meme coins. Traders should watch for a sustained break above $0.235 for confirmation of upward momentum, with initial resistance near $0.245. A drop below the 50-day SMA would signal weakness. Given DOGE’s sentiment-driven nature, monitor broader crypto market mood and Bitcoin’s direction for cues. Position sizing should account for the inherent volatility.