Dogecoin Hits Key Entry Zone: Could DOGE Target $0.60 in the Next Cycle?

Dogecoin (DOGE) is trading at $0.09803 on Sunday, February 8, entering a historically significant support zone that has previously triggered strong rebounds, according to the crypto analyst Hailey LUNC. 

Experts are closely monitoring this level, as early momentum hints at a potential short-term bounce toward $0.34, with Hailey LUNC suggesting a longer-term target near $0.60 if bullish momentum holds.

Source: Hailey LUNC X Post

Investors are watching this entry zone carefully, as it may serve as a pivotal moment for short-term trading in the 2026 crypto market. 

While past cycles suggest potential upside, gains depend on broader market conditions and confirmation of momentum signals.

Also Read: Dogecoin Eyes Strong Q1 Momentum as SpaceX DOGE-1 Buzz Revives Market Sentiment

Dogecoin (DOGE) Price Struggles Below Key EMAs

According to TradingView, as of Sunday, February 8, the price of DOGE has been trending lower since the end of January, making lower highs and lower lows. 

Significant price declines were seen between February 5 and 6, which caused the Bollinger Bands to spread, showing high volatility. 

The price also went into the lower band, showing that it was oversold during that time. The price currently consolidates at around $0.098, which could indicate a possible recovery.

Source: TradingView

Furthermore, the DOGE is currently trading below all the major EMAs, with the 20 EMA, which acts as resistance in the near term. 

The other EMAs, namely the 50 EMA, the 100 EMA, and the 200 EMA, are trading above the price of the asset, which is bearish in nature. The minor up moves of the asset are failing to sustain themselves above the 20 EMA.

DOGE Momentum Indicators Signal Recovery Phase

Currently, the Relative Strength Index (RSI) is around 48, which is just a little lower than the midpoint of 50. This is an indication that there is a lack of strong momentum in the direction to make the markets either overbought or oversold. 

In other words, the momentum is balanced and could continue in the same direction or even reverse based on changes in overall sentiment.

Source: TradingView

The MACD indicator is showing the MACD line above the signal line, with small positive histogram bars, indicating slight bullishness in the token. 

The chart is showing that Dogecoin is in the recovery phase after the sharp fall, but it is facing resistance at the price point of $0.10, which indicates that the asset is showing signs of optimism rather than a breakout.

Also Read: Dogecoin Poised for Bounce: $0.115–$0.470 Resistance in Sight