Dogecoin (CRYPTO: DOGE) has recorded a significant 9% rise over the past 24 hours, reflecting a strong initial movement as the cryptocurrency market enters 2026. Currently priced at $0.1295 with a market capitalization of approximately $21.8 billion, Dogecoin's momentum contrasts with that of its peers in the cryptocurrency space.
When compared with related cryptocurrencies, Shiba Inu (CRYPTO: SHIB) also shows a positive movement with a price of $0.057533 and a market cap near $4.4 billion, achieving a 4.5% gain. Pepe (CRYPTO: PEPE), another altcoin, experienced an even more pronounced jump of 29.4%, priced at $0.055227 and boasting a market cap of $2.19 billion. These figures provide contextual insight into Dogecoin’s relative performance within the altcoin segment.
Technical perspectives shared by market experts underline a potentially bullish trajectory for Dogecoin. Crypto analyst Kevin emphasizes the importance of a weekly reversal candle that has manifested within a critical demand zone. If this candle sustains through the weekly close, accompanied by both Dogecoin and Bitcoin reclaiming their respective 4-hour 200-day simple moving average (SMA) and exponential moving average (EMA), it could signify the lowest point of the recent retracement. This setup may establish a foundation for a countertrend price rebound.
Moreover, Bitcoin's ability to reclaim the range between $88,000 and $91,000 is presented as a crucial confirmation signal that could foster wider altcoin market strength. Ali Martinez, a crypto chart analyst, observes that Dogecoin has successfully broken above a constraining price channel, targeting a move toward $0.08. Such a breakout is indicative of strengthening upside momentum for the token.
Additional technical analysis provided by The Cryptomist notes that Dogecoin has breached its daily downtrend, which may suggest a reversal in overall trend dynamics. The analyst points out the paramount importance of a successful retest of this breakout level for validating the shift. Should such retest hold, initial upward price targets are set at $0.15, with a further extended target of $0.21 if momentum persists.
Supporting these technical assessments, data from Coinglass reveals that open interest tied to Dogecoin futures positions increased to $1.71 billion on January 2, marking an upward movement from $1.55 billion recorded the previous day. This trend could indicate growing trader participation and market interest.
Wallet data further illustrates rising engagement with Dogecoin. According to Bitinfocharts, the number of wallet addresses holding 0 to 0.1 DOGE has increased slightly to 3 million from a previous count of 2.99 million. Similarly, wallets holding between 0.1 and 1 DOGE rose to 799,305 from 797,783. These metrics highlight incremental growth in the base of holders owning smaller to moderate amounts of Dogecoin.
In terms of broader market context, Dogecoin’s performance contrasts with its previous December decline, where it, alongside Shiba Inu, suffered a 16% drop. The recent uptick at the outset of the new year may reflect shifts in market sentiment or technical positioning.
While Dogecoin is currently priced at $0.13536 with a momentum score of 6.85% on relevant rankings, traders and investors should continue to monitor key technical levels and market indicators closely. The cryptocurrency market's inherent volatility requires vigilance, as developments can swiftly impact price dynamics.
Overall, Dogecoin's recent price movement and supporting analytics suggest a cautiously optimistic outlook contingent on confirmation of critical technical signals and Bitcoin’s price behavior.