• Dogecoin price had its best rally in over a year on news  Ukraine was giving up on NATO membership bid.
  • DOGE price saw profit-taking during ASIA PAC , with first-in traders stealing the winnings ahead of their  US. 
  • Expect to see further losses with a break below $0.1137 and a dip towards the low of February to $0.1067

Dogecoin (DOGE) price has profited from the global relief rally yesterday which began in the ASIA PAC session, and then both EU and US traders were more than happy to take over into the US close. The rally got sparked in the early hours by comments from Ukraine that they were willing to meet Russia halfway on its demands. Sentiment started to fade, however, in early trading hours as Moscow remained silent and did not welcome or comment on the extended olive branch from Ukraine.

Dogecoin price in the dark on what Russia will do next

Dogecoin price saw its best trading day yesterday, matched by a complete paring back of incurred profits. Price action drops again today as traders scramble to unwind their long positions from yesterday in what looked to be a relief rally from solving the deal-breaking issue between Russia and Ukraine. But after more than 24 hours, Russia has refrained from commenting or even welcoming the efforts of Ukraine, which is putting markets back on edge and makes it clear that this situation will not be resolved anytime this week. 

DOGE price action is now testing the low of an intermediary trendline that already saw two tests in the past few hours and does not look to give enough power to the leg up for a total bounce back to $0.12 or higher. From the top, the red descending trend line makes it a triangle that could break either way but will probably see further declines as US traders have yet to come in, and when they do will see their positions holding significant losses. Expect this to see a break below the green ascending trend line and an accelerated down move as bears punch through $0.1137 and trigger a correction towards $0.1067.

DOGE/USD 4H-chart

DOGE/USD 4H-chart

As talks and backchanneling are still ongoing, a second tranche in the relief rally could still happen today, which would materialise in the form of a break above the red descending trend line, hitting $0.1242. Once through that area, expect to see a strong rally that could last for multiple days towards $0.1357, taking out $0.1300 along the way. This would undoubtedly be the case if a pullback from Russia is discussed and fighting stops from both sides in a peace agreement.



 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.

More Cryptocurrencies News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.

More Bitcoin News
Can Maker break $1,450 hurdle as whales launch buying spree?

Can Maker break $1,450 hurdle as whales launch buying spree?

Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.

More Maker News
Gold shines in Q1 while Bitcoin stumbles

Gold shines in Q1 while Bitcoin stumbles

Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.

More Bitcoin News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP