Dogecoin is showing signs of upward movement with two key resistance levels at $0.18 and $0.21
Whales accumulated over 220 million DOGE in March 2025, suggesting strong buying confidence
Technical analysts predict a potential 270% price surge if DOGE breaks current resistance levels
The meme coin has formed a J-shaped pattern similar to the one preceding its 2017 bull run
Long positions now dominate at 71.47% of futures contracts, indicating growing trader confidence
Dogecoin, the largest dog-themed meme coin, is gaining renewed attention as market indicators suggest a potential price reversal after a period of consolidation. Currently trading around $0.17, DOGE has seen a 7.3% increase in the last 24 hours, sparking optimism among investors and analysts alike.
The broader crypto market is gradually regaining bullish sentiment, helping DOGE recover from recent bearish pressure. Multiple signs point to an upcoming rally that could end the meme coin’s bearish performance.
Crypto expert Ali Martinez has identified two crucial resistance levels that Dogecoin must overcome before a significant rally can take place. These key resistance walls sit at $0.18 and $0.21, where a substantial amount of DOGE was previously purchased.
#Dogecoin$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
These levels are particularly important when examining the DOGE UTXO Realized Price Distribution (URPD), which shows where investors have historically bought the cryptocurrency. Breaking past these resistance points could launch the next major bull rally for Dogecoin.
Whale Accumulation Fuels Optimism
Large investors, commonly referred to as “whales,” have shown increased interest in Dogecoin. Reports indicate that these major players acquired over 220 million DOGE in March 2025 alone.
This whale accumulation reflects growing confidence in Dogecoin’s future trajectory. When large investors accumulate a cryptocurrency, it often signals anticipation of price appreciation.
The increase in whale activity suggests that institutional and high-net-worth investors are positioning themselves for a potential bullish move. If this trend continues, demand for Dogecoin could outpace supply, potentially driving prices higher.
Derivatives market data supports this optimistic outlook, with options volume witnessing an 84.21% rise while Open Interest increased by 8% to $804,000. Additionally, trading volume rose by 22%, indicating heightened market activity.
Technical Indicators Point to Breakout
Several technical analysts have spotted promising patterns in Dogecoin’s price charts. Trader Tardigrade highlighted that DOGE has broken out from a descending trendline, which typically signals an uptrend continuation.
Perhaps more importantly, Dogecoin has formed a J-shaped pattern on the monthly timeframe chart. According to analysts, the last time this pattern emerged was during the 2017 bull market cycle, which preceded major upswings to new highs.
Javon Marks, another crypto analyst, noted that DOGE is building a pattern of higher lows, historically a precursor to strong rallies. Based on this trend, he predicted a possible 270% price increase, which would push Dogecoin toward $0.65.
The Relative Strength Index (RSI) has crossed into positive territory, showing renewed buying strength. If Bitcoin maintains its position, DOGE could target the $0.22-$0.25 range in the coming weeks.
Market Sentiment Shifting Positively
Investor sentiment appears to be turning in Dogecoin’s favor. The Long/Short Ratio now shows that long positions dominate at 71.47% of futures contracts, indicating growing confidence that DOGE will experience further upside.
The largest supply of Dogecoin was acquired at the $0.07 range, with investors buying more than 20% of the meme coin at that level. The second and third-largest supply walls are located at $0.17 and $0.20, where investors purchased about 7.97% and 7.04% of DOGE supply, respectively.
Since Dogecoin is trading below some of these zones, it implies that many coins acquired at higher levels are currently at a loss. However, this situation could change as DOGE prepares for a persistent upswing.
Some analysts believe that breaking above $0.36 could set the stage for DOGE to reclaim its former glory and potentially reach its all-time high of $0.74, achieved in 2021.
Looking forward, Dogecoin’s bullish signals indicate that a major price movement may be imminent. While DOGE must overcome the resistance levels at $0.18 and $0.21 before a sustained bull run can be confirmed, the combination of whale accumulation, technical breakouts, and improving market confidence all point to the possibility of a substantial rally in the near future.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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