Dogecoin Breaks Above $0.14 as Selling Pressure Fades

Dogecoin has made a notable recovery after months of declines, breaking out of its short-term downtrend as selling pressure eases and traders rotate into meme coins.

The cryptocurrency is trading around $0.148, supported by higher volumes and improving technical indicators. DOGE reclaimed short-term support near $0.14 and briefly touched $0.147 after a prolonged selloff from October highs that pushed prices toward the $0.13 zone.

The decline flushed out leveraged positions and cooled speculative activity. On the daily chart, DOGE has moved back above its 20-day and 50-day moving averages, levels short-term traders watch for early signs of trend shifts. The RSI has climbed from oversold territory into neutral levels.

Derivatives data show rising open interest, indicating traders are positioning for near-term volatility. The rally extends beyond Dogecoin, with other meme tokens including Pepe posting sharp gains. CoinGecko's GMCI Meme Index has climbed in tandem with rising trading volumes.