Dog-themed cryptocurrency Dogecoin (DOGE) might be on the verge of a potential golden cross, a bullish pattern that happens when a short term moving average (typically the 50 period SMA) crosses above the long term moving average — usually the 200-period SMA.
In the case of Dogecoin, the 50-day SMA turned upwards and might cross above the 200-day SMA in the coming days. If a golden cross is confirmed, this would be first of such for Dogecoin on its daily chart in 2025.
Dogecoin last saw a golden cross on its daily chart on November 2024, which saw its price rise from $0.14 to $0.484 a month later, representing a 227% gain.
However, this would not be the first major moving average crossover in 2025. Dogecoin formed a death cross on its daily chart — the opposite of golden cross — in March 2025. This followed months of drop with Dogecoin reaching a low of $0.129 on April 7.
Dogecoin recovery currently faces resistance at $0.28; the positivity lies in the fact that DOGE price remains above the daily moving averages — the 50-day SMA and the 200-day SMA.
Potential scenarios
Around press time, DOGE was trading at $0.23. After four days of rising, which spanned from Aug. 6 to 9, Dogecoin experienced profit taking at a high of $0.248, now entering its second day of dropping.
In the short term, the $0.25 level will be watched to see if Dogecoin will decisively break above this key level ahead of the $0.29 level.
If history repeats itself, a golden cross could see Dogecoin potentially retest previous highs. Increased whale activity or broader crypto market rallies could amplify gains.
According to crypto analyst Ali, "Once Dogecoin (DOGE) clears $0.36, the path is clear. Targets reset to $0.70."
The indications may also turn out to be a false signal, with Dogecoin bulls failing to gain strength, especially amid a broader market downturn. Another possibility is that Dogecoin consolidates, building strength before a more decisive move.
