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?

The hopeful spark for Dogecoin

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?

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.