- Dogecoin nears Golden Cross as 10W SMA eyes bullish crossover above 20W SMA
- RSI at 32.51 hints DOGE may be oversold, signaling possible price stabilization
- Derivatives surge 50.89% as options volume spikes, showing rising speculative interest
Dogecoin, the popular meme-based cryptocurrency, is once again capturing investor attention. As of June 21, 2025, DOGE trades at $0.1629, reflecting a 4.81% dip over the last 24 hours and a 7.86% drop over the week. Despite this short-term downturn, analysts are closely watching a technical pattern on the weekly chart that could signal a major bullish reversal.
Golden Cross on the Horizon
Tardigrade, a well-followed market analyst, has spotlighted the emerging Golden Cross on DOGE’s weekly chart. This pattern involves the 10-week simple moving average (SMA) crossing above the 20-week SMA.
Historically, this signal has preceded explosive rallies in the DOGE market. The last two Golden Crosses, in late 2023 and late 2024, led to gains of over 230% and 310%, respectively.
The current setup mirrors those past instances, raising expectations for a repeat performance. Significantly, this pattern isn’t just technical noise. It reflects improving market sentiment and rising confidence among traders.
Besides the chart pattern, derivatives data supports growing interest. Options volume has surged by more than 26,000%, signaling renewed speculative activity.
#Dogecoin Golden Cross Approaching 🔥
— Trader Tardigrade (@TATrader_Alan) June 19, 2025
When it happens, it can cause a Massive Move with 200-300% gains.$Doge/W1 pic.twitter.com/u5BtU3XoTe
Mixed Technicals Suggest Near-Term Uncertainty
Despite bullish signals on the longer timeframe, short-term technical indicators suggest caution. The MACD remains in negative territory, and the MACD line is still below the signal line. This configuration shows current momentum remains bearish. Additionally, the histogram continues to reflect negative divergence, reinforcing the downtrend.
However, the RSI has dropped to 32.51, nearing oversold territory. This indicates selling pressure may be weakening. Consequently, a short-term bounce or price consolidation could occur before any major breakout.
Derivatives Market Points to Increased Volatility
According to Coinglass derivatives data shows a surge in overall trading volume, which jumped 50.89% to $3.22 billion. While open interest has declined slightly by 4.43%, a sharp increase in options trading suggests heightened speculative activity.
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