TLDR:
- Dogecoin is showing signs of upward momentum after a period of consolidation
- Key resistance levels at $0.18 and $0.21 need to be broken for a significant rally
- Whales accumulated over 220 million DOGE in March 2025, showing increased confidence
- Technical analysis shows a breakout from a falling wedge pattern and formation of higher lows
- Analysts predict a potential 270% surge, which could take DOGE to approximately $0.65
Dogecoin, the largest dog-themed meme coin, is gaining attention as it shows multiple signs of upward movement. After facing bearish pressure, DOGE has begun to recover with the support of growing bullish sentiment in the broader cryptocurrency market. Crypto analysts are predicting a potential rally that could end the recent bearish performance.
Currently trading around $0.174, Dogecoin has experienced a 7.3% price increase in the last 24 hours. This rise comes as traders and investors show renewed interest in the popular meme coin.
According to crypto expert Ali Martinez, Dogecoin is eyeing a potential uptrend. However, it needs to overcome two crucial resistance levels before it can truly rally.
#Dogecoin $DOGE is facing two key resistance walls at $0.18 and $0.21. Breaking through both could be the catalyst for the next major bull rally. pic.twitter.com/NIln4NilM6
— Ali (@ali_charts) April 1, 2025
These key resistance levels are at $0.18 and $0.21. At these price points, a large supply of DOGE was purchased, making them important barriers to breakthrough.
Whale Activity Fuels Optimism
One of the main drivers behind Dogecoin’s recent momentum is the major accumulation by large investors, often called “whales.” Reports indicate that these whales acquired more than 220 million DOGE in March 2025 alone.
Whales bought more than 220 million #Dogecoin $DOGE throughout March! pic.twitter.com/ODOELwM4Iw
— Ali (@ali_charts) April 1, 2025
This large-scale buying reflects growing confidence in Dogecoin’s future prospects. When demand from these big players outpaces supply, it often leads to price increases.
The increase in whale activity suggests that both institutional and high-net-worth investors are positioning themselves for what they expect to be a bullish move in the near future.
This growing interest from large investors is considered a positive signal by many in the crypto community. It often precedes larger market movements.
Technical Indicators Point to Breakout
Market enthusiasts are closely watching Dogecoin price charts for signs of an expected rally. Recent technical analysis has revealed several bullish indicators.
DOGE recently broke out from a falling wedge pattern, which is classically considered a bullish technical signal. This breakout has fueled speculation about a move higher.
Crypto analyst Javon Marks has noted that DOGE is building a pattern of higher lows. This pattern is usually a precursor to strong rallies in price action.
Based on this trend and other technical factors, Marks has predicted a possible 270% price increase. If realized, this would push Dogecoin’s price to around $0.6533.
The Relative Strength Index (RSI) has also crossed into positive territory. This technical indicator shows renewed buying strength in the market.
If Bitcoin maintains its position above key levels, analysts believe DOGE could target the $0.22–$0.25 region in the coming weeks.
Supply Dynamics and Resistance
A closer look at Dogecoin’s supply dynamics reveals interesting patterns. According to UTXO Realized Price Distribution (URPD), Dogecoin’s largest supply was acquired at the $0.07 range, where investors bought more than 20% of the meme coin.
The second and third-largest supply walls are located at $0.17 and $0.20, respectively. During these levels, investors purchased about 7.97% and 7.04% of DOGE supply.
Since the meme coin is trading below these two zones, it implies that all of the coins acquired at these levels are currently at a loss.
Breaking through the $0.21 resistance could pave the way for a push toward $0.36 and beyond, as there are fewer major supply barriers ahead after these levels.
Martinez has stated that “Breaking these resistance levels could unleash a strong upward movement for Dogecoin, as there are no major supply barriers ahead.”
Another crypto analyst and investor, Trader Tardigrade, has identified a J-shaped pattern in Dogecoin’s monthly time frame chart. The last time this pattern emerged in the 2017 bull market cycle, Dogecoin saw huge upswings to new highs.
After reaching its all-time high of $0.74 in 2021, a huge accumulation has occurred, and prices have retraced, leading to the current J-shaped pattern.
Market sentiment also appears to be shifting in Dogecoin’s favor. The Long/Short Ratio indicates long positions now make up 71.47% of futures contracts, showing growing trader confidence in DOGE’s upside potential.
Dogecoin derivatives market has demonstrated growth as well, with options volume witnessing a rise of 84.21% while Open Interest increased by 8% to $804,000. Trading volume rose by 22%, indicating higher overall activity.
As DOGE builds momentum, the next few weeks could be pivotal for its long-term direction. Investors will need to watch for breakouts at key resistance levels closely.
For now, Dogecoin remains at a crossroads, with technical indicators and whale activity suggesting a potential upswing if it can overcome these important resistance barriers.
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