TLDR
- Dogecoin has broken above a three-month descending trendline, signaling a potential bullish breakout
- DOGE price is up 18% over the past three days, making it the top performer among the top 30 cryptocurrencies
- Analyst TradingShot predicts DOGE could reach $0.8, surpassing its previous all-time high of $0.73
- Whales have accumulated over 200 million DOGE in the past two weeks despite recent volatility
- According to Glassnode data, if DOGE breaks above $0.20, there’s little resistance until $0.31, suggesting a potential 55% surge
Dogecoin is making waves in the crypto market once again. The popular meme coin has risen 18% over the past three days. It currently trades around $0.19, up more than 4% in the last 24 hours.
This performance has made DOGE the best performer among the top 30 cryptocurrencies by market cap this week. The coin is showing its highest weekly returns of 2025, something not seen since late 2024.
The recent price movement comes after DOGE broke above a key trend line. This line had been forming since January 18, creating a pattern of lower highs over the past two months.
Whale Activity and Support Levels
Behind the scenes, large DOGE holders have been busy. Crypto analyst Ali Martinez reports that whales have accumulated over 200 million DOGE in just two weeks. This activity suggests strong confidence despite the recent market ups and downs.
Such accumulation periods often come before price increases. When major holders buy in large amounts, it can signal an upcoming rally.
On-chain data from Glassnode shows that 7% of DOGE supply is clustered around the $0.20 price level. This concentration could act as either resistance or support, depending on market direction.
What makes this interesting is what lies beyond. According to Glassnode, if DOGE breaks through $0.20, there’s very little resistance until $0.31. This gap could allow for a sharp move higher, potentially leading to a 55% surge.
Analyst Predictions
Several analysts have shared bullish outlooks for Dogecoin. TradingShot believes DOGE is aiming for a new all-time high. Their analysis suggests a target of $0.8, which would surpass the previous record of $0.73.
TradingShot notes that while $0.3 remains a technical resistance level, signs point to a new bullish phase. The 1-day Relative Strength Index (RSI) is trending upward. The price has also rebounded from recent lows at the bottom of a one-year channel.
Trader Tardigrade has an even more bold prediction. According to their analysis, DOGE could rally as high as $6 as it completes what they call “cycle 3.” Their chart pattern analysis suggests DOGE could hit the $1 mark by June.
Another analyst, Master Kenobi, agrees with this timeline. They also predict DOGE reaching around $1.1 by June.
Fundamental Developments
Recent news has helped fuel Dogecoin’s rally. On March 24, House of Doge announced the launch of “The Official Dogecoin Reserve.” This initiative began with a purchase of 10 million DOGE tokens.
House of Doge is a new corporate wing of the Dogecoin Foundation. In their press release, they stated they are “laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability.”
The group plans to provide their reserve address on their website once the tokens are transferred. This move aims to maintain transparency in their operations.
This announcement has created positive sentiment within the Dogecoin community. It came just before the current price rally began.
Technical Indicators
From a technical standpoint, several indicators support the bullish case. The Moving Average Convergence Divergence (MACD) is emerging from a triangle pattern. This technical signal often precedes major price movements.
DOGE has now broken through a three-month descending trendline. This breakthrough could signal a shift from bearish to bullish momentum in the short term.
The next major resistance zone lies between $0.32-$0.41. This range represents where investors bought DOGE in January. It could act as a sell ceiling as some traders may exit when they break even.
For now, all eyes are on the $0.20 level. Breaking and holding above this price point could open the door to much higher targets according to several analysts.
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