Dogecoin forms first golden cross since November, signaling potential for extended rally

Dogecoin (DOGE) has just recorded its first golden cross since November 2024, a key bullish technical indicator that occurs when the 50-day moving average rises above the 200-day moving average, often seen as a sign of shifting momentum toward a sustained uptrend. The crossover comes at a time of strong on-chain activity, with whale addresses adding over 1 billion DOGE valued at approximately $200 million in the past week, pushing large-holder control of the circulating supply to nearly 50%, a level that historically precedes heightened volatility and sharp directional moves.

Looking back, DOGE’s November 2024 golden cross was followed by a rally of over 130% in just a few weeks, while the November 2023 signal triggered gains of around 25% before a broader market pullback. Currently trading near the $0.24–$0.25 zone, the asset is approaching a critical resistance level at $0.25, which also aligns with the upper bound of its recent consolidation channel.

Historical Context and Technical Reinforcement

A confirmed breakout above this threshold could accelerate buying pressure and push prices toward the short-term targets of $0.27 and $0.30, while more aggressive Fibonacci extension levels suggest potential medium-term moves toward $0.40 and even $0.50 if bullish momentum holds. On the downside, the $0.22 region serves as the nearest support, with a deeper retracement potentially testing the $0.20 psychological level should momentum fade. Market sentiment has turned cautiously optimistic, supported by both the golden cross and the whale accumulation narrative, but traders remain aware that this technical pattern is not infallible and can sometimes result in false signals if not confirmed by strong volume and sustained breakouts.

As such, reinforcing this analysis with a comparative price chart highlighting past golden cross formations, subsequent price movements, and current moving average trajectories would provide a more comprehensive view of DOGE’s potential path. The coming days will be critical as the market gauges whether this golden cross can replicate or even surpass the rallies seen in prior cycles, with technical alignment, whale behavior, and broader crypto market trends all playing pivotal roles in determining whether Dogecoin’s latest bullish signal becomes a sustained breakout or another short-lived spike.

Dogecoin (DOGE/USDT) Daily Chart ,the 50-day moving average has crossed above the 200-day moving average, marking the first Golden Cross since November 2024. Price is now approaching the critical $0.25 resistance level, a zone that previously triggered significant rallies.”