TLDR

Dogecoin rebounds from $0.14 support, forming a cup-and-handle pattern with price hovering around $0.182
Over $8.5 million in DOGE withdrawn from exchanges on July 10, suggesting accumulation phase
Open Interest surged 15.09% to $2.44 billion with positive funding rates at +0.0093%
Analyst VisionPulsed predicts potential 500% surge to $0.90-$1.00 by November-December
Key resistance at $0.198 must break for bulls to target $0.25 in coming weeks

Dogecoin has rebounded from its $0.14 support level and is currently trading around $0.182. The cryptocurrency has formed a cup-and-handle pattern on its chart, which traders often view as a bullish signal.

The pattern completion has placed DOGE back inside a parallel channel. If the price breaks above the $0.198 resistance level, bulls could push toward $0.25 in the coming weeks.

Any rejection near the mid-channel zone may cause consolidation. The pattern’s symmetry and previous response to support levels suggest bulls maintain control, though confirmation depends on holding above $0.16.

Dogecoin Price on CoinGecko

Exchange Outflows Signal Accumulation

Data from CryptoQuant shows that over $8.5 million worth of DOGE was withdrawn from exchanges on July 10 alone. This continues a broader trend of sustained outflows over recent weeks.

Investors appear to be moving their holdings to self-custody wallets or pursuing long-term holding strategies. Such behavior often precedes accumulation phases as participants move funds off exchanges to reduce selling pressure.

The reduced availability of DOGE on exchanges could potentially tighten supply. However, if these outflows reverse unexpectedly, it may signal profit-taking that could pressure price recovery efforts.

Open Interest in DOGE futures has surged sharply by 15.09% to $2.44 billion. This reflects renewed capital flowing into derivatives markets.

Funding rates remain positive at +0.0093%, indicating that long positions are paying short traders. This typically serves as an early sign of bullish conviction among derivatives traders.

The combination of increasing exposure and sustained optimism highlights growing confidence. Excessive leverage without spot market support could lead to forced liquidations if the market turns.

Long-Term Price Predictions

Crypto analyst VisionPulsed believes Dogecoin’s months-long sideways movement is building up to a dramatic surge. In a June 9 livestream, the analyst argued that macro and on-chain signals point to an upside move.

VisionPulsed projects DOGE could reach “around 90 cents to a dollar,” representing approximately 500% gains from current levels. The analyst noted that each bull-market thrust since 2020 has exceeded the magnitude of the previous one.

The prediction is partially based on the hash ribbons indicator, which compares short and long-term mining hash rates. This indicator historically identifies miner capitulation and subsequent recoveries.

The analyst also highlighted several macro factors supporting higher prices. These include euro-dollar dynamics, global M2 money supply growth, the distance from Bitcoin’s April halving, and record S&P 500 closes.

Dogecoin’s five-day stochastic RSI remains in oversold territory. VisionPulsed suggests this strengthens rather than weakens the case for an explosive move once momentum reverses.

The cryptocurrency has traded sideways for roughly three months in a 17-20 cent channel. The analyst describes this pattern as “extremely bullish” precisely because it appears uneventful.

VisionPulsed’s projected timeline would deliver the upside move between October and December. This window coincides with the historical peak of Bitcoin’s four-year cycle.

Over the last 90 days, DOGE’s cumulative volume delta on spot markets has consistently favored buyers. Aggressive buyers continue to dominate even during corrective phases.

This buyer dominance has historically aligned with short-term upward breakouts. The sustained pressure from spot buyers supports a bullish outlook, though weakening volume could expose downside risks.

Current price action shows DOGE must clear the $0.198 resistance level to confirm bullish continuation. Success at this level could open the path to $0.25, while rejection might trigger another pullback.

The post Dogecoin (DOGE) Price: Cup-and-Handle Pattern Forms as Price Tests $0.198 Resistance Level appeared first on Blockonomi.

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Filed under: Bitcoin - @ July 11, 2025 8:16 am