By Victor Swaezy 
Dogecoin (DOGE) is once again drawing attention from traders after fresh technical signals suggested the leading meme coin could be on the verge of a notable price rally. Analysts are pointing to Bollinger Bands and rising volume as indicators that DOGE may be preparing for a move toward the $0.16 zone if bullish momentum holds.
Bollinger Bands Hint at Potential 30% Upside
Recent technical analysis highlights a widening range between Dogecoin’s Bollinger Bands, a setup that often precedes a strong price move. The lower band currently sits at $0.1226, while the upper band stands near $0.1554, creating a spread of roughly 30%.
If bullish momentum continues to build, DOGE could climb toward the upper boundary of this range, with analysts suggesting a push beyond $0.16 is possible under favorable market conditions.
Price action over the last 24 hours supports this outlook. Dogecoin rebounded from a low of $0.1207 to a high near $0.1285, before settling around $0.1257 at press time. This represents a 3.36% gain over the past day, reinforcing the view that upward momentum may be forming.
Market Recovery and Rising Volume Strengthen Bullish Case
Dogecoin’s rebound comes alongside a broader recovery in the cryptocurrency market, which advanced 1.79% over the same period. Renewed optimism has helped fuel buying activity in DOGE, with trading volume jumping 5.39% to $1.38 billion.
The increase in volume is seen as a key confirmation signal, suggesting that the recent price move is backed by growing participation rather than thin liquidity. Analysts often view rising volume during an uptrend as an early sign of a sustainable rally.
RSI Signals Easing Bearish Pressure
Momentum indicators are also starting to align with the bullish narrative. Dogecoin’s Relative Strength Index currently stands at 40.3, a level that indicates bearish pressure may be fading. While still below the neutral 50 mark, the RSI’s stabilization suggests selling momentum is weakening.
This shift could allow buyers to regain control, potentially setting the stage for further upside if broader market conditions remain supportive.
Focus Turns to $0.16 as Key Short-Term Target
With Bitcoin showing signs of stabilization and altcoins beginning to recover, traders are increasingly watching the $0.16 zone as a critical near-term objective for Dogecoin. A successful move toward the upper Bollinger Band would mark a roughly 30% advance from current levels.
For now, analysts caution that continued volume growth and sustained market strength will be essential to confirm a breakout. Still, the alignment of Bollinger Bands, RSI improvement, and rising participation suggests DOGE may be approaching a pivotal moment.
If bullish momentum persists, Dogecoin could soon test higher resistance levels, reviving optimism for a stronger recovery in the days ahead.