Dogecoin Price Tests $0.22 Support- as Analyst Eyes Rebound Toward $0.29

Dogecoin Price has returned to the spotlight following a turbulent week in the crypto market, with the meme coin facing renewed ￰0￱ the past 24 hours, it slipped by 1.52% to trade near $0.2275, maintaining a market capitalization of $34.38 billion and a substantial trading volume of $4.01 billion, indicating active participation despite the dip. However, the broader picture looks more concerning, as DOGE has declined 16.25% over the past week, retreating from highs of $0.271. Analyst Ali Highlights Crucial Support Level for Dogecoin According to Analyst Ali , $0.22 is the make-or-break support level for ￰1￱ the coin manages to hold this threshold, the price could rebound inside an ascending triangle ￰2￱ projects consolidation between $0.24 and $0.26 before a potential move ￰3￱ bullish target in this setup is $0.29, nearly 30% above current ￰4￱ above $0.22 preserves the bullish structure, but any breakdown below that level may expose DOGE to retracements toward $0.20 or lower.

Ali’s analysis highlights a pivotal ￰5￱ Dogecoin strengthens above support and eyes higher targets, or weakness accelerates the downward ￰6￱ Activity and ETF Listing Add Weight Market activity among large holders has fueled ￰7￱ just 48 hours, whales accumulated $2 billion in DOGE , according to recent ￰8￱ holding between 100 million and one billion DOGE have steadily increased their balances in recent ￰9￱ sharp whale movements often precede price recoveries and reflect growing confidence among big ￰10￱ to the narrative, Dogecoin gained institutional recognition with a new exchange-traded ￰11￱ 21Shares Dogecoin ETF was recently listed on the Depository Trust and Clearing Corporation (DTCC) ￰12￱ listing marks another step toward mainstream adoption and could improve visibility among traditional ￰13￱ Warns of Ongoing Dogecoin Correction While Ali points to a possible rebound, analyst CryptoTony__ warns of continued ￰14￱ Elliott Wave analysis, he projects one final leg lower in the current ￰15￱ chart suggests DOGE could test $0.21 before bottoming ￰16￱ support at $0.21 holds, CryptoTony__ expects a reversal and a push back toward $0.24–$0.26.

This outlook mirrors the importance of the support zone, with both analysts recognizing its decisive ￰17￱ Dogecoin is at one of the crossroads in deciding between the bearish trend and the opportunity to ￰18￱ down by 16% weekly, high investment and accumulation by whales to the point of underlying support, and the new 21Shares ETF listing should bring institutional ￰19￱ Ali points out that possession of the most crucial support zone may open the way to recovery to even higher levels, whereas CryptoTony__ expects yet another corrective leg before the situation ￰20￱ opinions combined demonstrate the crucial impact of the existing support on the short-term direction of Dogecoin.