Dogecoin remains in focus as broader crypto market declines on April 13

The largest crypto memecoin, Dogecoin (DOGE), remains in focus amid broader market uncertainty. Over the past 24 hours, DOGE’s price has moved only slightly, while sentiment among some market participants points to a possible shift ahead.

Market snapshot: DOGE and the broader crypto market

As of April 13, the broader crypto market declined by 0.51%, bringing total market capitalization to $2.42 trillion. During the same period, DOGE slipped 0.25% and traded at $0.0915.

Trading activity appeared cautious. DOGE’s trading volume dropped by more than 36% to $873.40 million, indicating reduced participation. With both price and volume weakening, the move suggested traders were holding back, limiting immediate downside pressure.

Expert views: potential upside scenarios

Despite muted market activity, several analysts on X shared optimistic interpretations that gained attention.

One analyst said DOGE’s chart still supports a long-term move toward $2. They cited the $0.07 to $0.09 range as a strong accumulation zone, with potential targets at $0.5, $1, and $2.

Another expert pointed to DOGE’s monthly RSI, saying it has reached levels historically associated with reversals. They referenced similar conditions in 2016, 2020, and 2023, when strong rallies followed.

While these observations suggested DOGE could be positioning for another upside move, the analysts did not provide a specific timing window.

Technical picture: consolidation and key levels

On the daily chart, however, the setup looked more restrained. DOGE continued to trade within a descending triangle, moving sideways for nearly 25 days between $0.088 and $0.096.

This extended consolidation has kept price action compressed, with no clear breakout yet. A decisive move beyond either boundary could define the next trend: a break above $0.096 may push the price higher, while a drop below $0.088 could extend losses.

At press time, the Average Directional Index (ADX) was 10.89, signaling weak trend strength and aligning with the ongoing sideways movement.

Positioning and on-chain signals

Market sentiment appeared split between longer-term and shorter-term participants.

On-chain data indicated continued accumulation by long-term holders. Over the past 48 hours, around $5 million worth of Dogecoin moved out of exchanges, which was interpreted as holding behavior rather than immediate selling.

At the same time, short-term traders appeared more active on the opposite side. The Exchange Liquidation Map highlighted $0.0893 and $0.0929 as key leverage zones. Approximately $7.89 million in long positions and $13.76 million in short positions were concentrated at these levels.

This imbalance suggested bears held the short-term edge, even as long-term players continued to accumulate.

Bottom line

Dogecoin is trading in a tight range between $0.088 and $0.096 without a confirmed breakout. A move above $0.096 could open the door to upside, while losing $0.088 may prolong downside pressure.