Dogecoin Rebounds 17% as Trade War Fears Ease and Investor Confidence Returns

Dogecoin experienced a 17% increase on Monday, reaching an intraday high of $0.21, recovering from a sharp decline that pushed the meme coin to a three-month ￰0￱ token had lost 33% of its value in the last week and hit a bottom at $0.18 on October ￰1￱ Monday's gains, Dogecoin remains 54% below its all-time high of $0.46, reached in ￰2￱ rebound was part of a wider recovery in the cryptocurrency market, triggered by President Donald Trump's ￰3￱ posted on Truth Social that the United States government was negotiating with China on proposed 100% tariffs on imported rare earth ￰4￱ tariffs, scheduled to begin on November 1, had rattled global markets and raised concerns about escalating trade tensions between the world's two largest ￰5￱ Market Shows Strength Across Major Assets The clarification by Trump, which alleviated any anticipation of a complete trade war, led to a fresh surge in the purchasing of digital ￰6￱ rose once again above $115,000, and Ethereum and BNB recorded increases of 9% and 16%, ￰7￱ rally extended into the meme coin industry, with the total cryptocurrency market capitalization again surpassing the $4 trillion ￰8￱ reported that Dogecoin not only has a better sentiment in the market, but it also has high conviction amongst its ￰9￱ data indicated a significant transfer of tokens from ￰10￱ has experienced 10 consecutive days of net outflows since the start of October, totaling more than $440 ￰11￱ outflow: Coinglass Outflows of exchange are usually a sign that investors are moving their investments to self-custody ￰12￱ activity is an indication of confidence in the long-term outlook of the asset, which in turn decreases the pressure to sell in the short ￰13￱ supply of tokens on exchanges is reduced when the tokens are withdrawn, and this may contribute to the price increasing if demand remains ￰14￱ Indicators Point to Further Upside Potential The technical analysis of the Dogecoin 4-hour chart indicates that it has formed a bullish pennant ￰15￱ structure is formed when an asset experiences a steep rise in price, followed by ￰16￱ from such patterns often lead to continuation of the upward ￰17￱ on 4-hour chart Dogecoin was also testing the upper limit of the pennant formation at the level of $0.21.

The momentum indicators suggest that the token has a promising future ￰18￱ MACD line has now crossed above the signal line, indicating that momentum is shifting towards ￰19￱ RSI indicator shows that it lies close to the neutral territory, and it has the opportunity to gain further, potentially increasing to an overbought ￰20￱ RSI chart Analysts suggest that Dogecoin may target $0.25 in the next price increase, representing a 19% rise from its current ￰21￱ objective aligns with the 200-day simple moving average, one of the primary technical indicators closely monitored by ￰22￱ any slip below the bullish-supportive level of $0.20 would invalidate the bullish formation and reverse the bearish formation.