April remains a significant month for Dogecoin's price action. Dogecoin increased as much as 500% in one April; this sets expectations for the fourth month of the year.
In April 2021, Dogecoin increased 531% when it reached a high $0.453. In May of that same year, Dogecoin later reached an all-time high of $0.748 before it fell.
DOGE/USD Monthly Chart, Image By: TradingView
Broadly speaking, April has portrayed mixed price action for Dogecoin; a few times, it closed the month in green, such as in April 2021 and 2023. In the year 2022, Dogecoin ended the month of April in losses, as well as in April 2024, when it fell nearly 40%.
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That said, a trend of muted price action or volatility is seen in past Aprils. The $0.10 level holds the key to further price increases, and Dogecoin might target $0.15 on a sustained breakout.
Dogecoin began April in the green, with its price up in the last 24 hours. At the time of writing, Dogecoin was trading at $0.092, up 1.29% daily.
What's next?
Buyers have managed to bring Dogecoin above the $0.09 support but are struggling to start a strong rebound.
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This suggests that sellers are taking profits on every minor rise toward the moving averages. If the Dogecoin price falls from current levels, it might increase the chance of a break below the $0.09 support. In this scenario, Dogecoin may drop to the $0.08 level.
On the contrary, if the price continues higher and breaks above the moving averages, especially the daily MA 50, it might once again confirm support at the $0.09 level. Dogecoin may then rally to $0.11 and then to $0.12.
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