Dogecoin price prediction – Will the memecoin overcome the 78.6% Fibonacci barrier?

Recently, Dogecoin’s [DOGE] price was at the risk of facing a setback after weeks of upward momentum. However, the $0.088 support level was defended throughout April, and DOGE managed to rally past $0.10 from this support.

AMBCrypto had warned that $0.117 was the 78.6% Fibonacci retracement level, and could see a sustained bearish move. However, over the past 24 hours, the leading memecoin gained by 4.5% after briefly descending from $0.117 to $0.105.

Will the higher timeframe downtrend take control in the coming days? Or is this a sign that the bulls have overcome the rejection and may be ready to make new highs?

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The hopeful spark for Dogecoin

Source: DOGE/USDT on TradingView

The swing structure on the weekly chart of Dogecoin was bullish. The swing low and high at $0.08 and $0.484, respectively, were made during the 2024 bull run. The memecoin was unable to maintain the same pace in 2025, when Bitcoin [BTC] set new all-time highs.

The rally in 2025, which came from the demand zone around the 78.6% level at $0.166, only reached $0.3 before falling lower once more. This amounted to a weak reaction from a key Fibonacci retracement level.

Therefore, though the higher timeframe swing structure was bullish, it did not exhibit strength from the buyers.

A chance at a full send-off from the bulls?

Source: DOGE/USDT on TradingView

In a recent report, AMBCrypto highlighted the threat of profit-taking from short-term holders. This situation has not changed, and the swing structure of DOGE has remained bearish on the 12-hour timeframe.

Given the bearish crypto phase, relatively weak sentiment compared to bull market confidence, and slow spot demand, the chances of a full DOGE recovery from the $0.08 weekly swing low could be slim.

While the leading memecoin has seen a bounce in the past 24 hours of trading, traders should remember that its structure has been bearish.

Final Summary

• Short-term momentum of Dogecoin appeared to be swaying in favor of the bulls after a bounce in the last 24 hours.
• Weekly chart revealed why investors still have reason to remain hopeful, but full recovery remains a long shot.