On Thursday, Dogecoin (DOGE) experienced a price drop as the market weakened, but several key indicators show that its upward structure remains solid. Many well-known analysts even believe that DOGE is building strength and may see an increase of up to 26%—37%.

The short-term pullback aligns with the market rhythm, and futures speculative sentiment is cooling simultaneously.

As the spot price falls, the derivatives heat of Dogecoin also shows signs of cooling. In the past 24 hours, the open interest of DOGE futures has decreased by 3.53%, indicating a withdrawal of short-term speculative funds.

This slight pullback is not unexpected, as its trend is consistent with the adjustments in the entire cryptocurrency market: during the same period, Bitcoin fell by 1.37%, Ethereum fell by 1.16%, and overall risk appetite has declined, putting pressure on Dogecoin's short-term price.

As of the time of writing, DOGE is priced at around $0.147.

Technical structure remains strong: wedge breakout + solid backtest, support level at $0.145 is effective

From a technical perspective, Dogecoin has successfully broken upward from the daily descending wedge and has retested the upper boundary, forming solid support around $0.145.

In terms of price structure, DOGE has recorded higher lows multiple times, indicating a short-term strong trend. Once it effectively breaks through the resistance at $0.155, with its high market liquidity, it is expected to further impact:

  • $0.181 (previous high resistance)

  • If buying pressure continues to strengthen, it may even test $0.20, calculating from the support level of $0.145, the potential increase is about 37%

Technical + fundamental aspects are simultaneously providing positive signals, analysts are generally bullish

Crypto trader ChiefraT pointed out that DOGE's descending wedge has confirmed a breakout, and the market is currently waiting for a second verification of key support.

He stated:

"Pay attention to the backtest near 0.14500. If there is a clear commitment, DOGE may start a rise of about 26%."

According to its model estimation, the target price for the increase corresponds to about $0.1857.

Fundamentals are also conveying active signs. Analyst Ali Martinez monitored that on December 3, the number of daily active addresses for Dogecoin surged to 71,589, a new high in nearly three months. This indicates that DOGE's network activity is recovering, and on-chain participation is clearly warming up.

Whale sentiment leans bullish, but some technical indicators still show divergence

In the derivatives market, Dogecoin is significantly favored by large holders. Binance long-short ratio data shows that over 75% of whale-level traders are betting on DOGE's rise, with large capital sentiment clearly leaning towards bullish.

However, the signals given by technical indicators are still slightly divergent:

  • Bull and Bear Power Indicator: Neutral range, showing temporary balance between bulls and bears

  • MACD Indicator: Issues a buy signal, suggesting short-term momentum is strong

Although there are differing voices in the market, multiple medium to long-term positive factors are gradually converging from capital, on-chain activity to pattern breakout.