Dogecoin Price Rebounds and Breaks Key Resistance: $0.15 in Sight?

Dogecoin has been a standout performer over the past few weeks. Doge recovered from the FTX crash and is up nearly 10 percent. The domino effect of the FTX scandal has brought the entire crypto market to a standstill. So far, Bitcoin & Co. have not been able to record any significant movements, which raises concerns about where the market will develop next.

Dogecoin Check-Up

Despite the uncertainty and turmoil that has impacted Dogecoin's price and the crypto market at large, many altcoins are struggling to avoid further losses.

Dogecoin (DOGE) has suffered losses as the price fell from its all-time high of $0.73 to a weekly low of $0.055, prompting speculation of a further drop to $0.03. The Doge surged as high as $0.15 before the FTX fiasco before a massive sell-off hit the crypto market.

DOGE price needs to break and sustain above $0.095 for any chance of a rally to $0.15 and possibly $0.2 areas. For a short-term recovery, DOGE price needs to reclaim $0.1 and trade sustainably above it.

Before the drama of the crypto exchange FTX, the Dogecoin price was really boosted by the Twitter takeover by Elon Musk. The community had suspected that Musk would integrate the Dogecoin on Twitter. This led to a short-term bull run that ended with FTX collapsing.

Nevertheless, analysts believe that Dogecoin can be used as a payment method for micropayments or subscriptions at social media giant Twitter in the future. Since Musk is known to be a supporter of the meme coin, such an integration seems quite likely and could push DOGE further in the future.

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