Dogecoin Price Analysis: Bull Run or Bear Trap?

Dogecoin (DOGE), the popular meme coin in the cryptocurrency market, has experienced a noteworthy rally in early May 2025. However, recent price movements suggest a cooling trend. A detailed analysis of Dogecoin’s daily and hourly trading charts on TradingView provides crucial insights into potential price direction. A look at the daily chart reveals that DOGE is currently trading at around $0.2269 after dropping over 3% in the last 24 hours. However, its recent rally broke above a multi-month descending trendline and reclaimed the 50-day simple moving average (SMA), which now acts as strong support near $0.1955.