Dogecoin (DOGE) Breaks Out of Falling Wedge Pattern, Whales Accumulate Coins

After a prolonged period of consolidation, DOGE has started to show strong signs of upward momentum, fueled by increased accumulation by whales and a breakout from a critical technical pattern.

Dogecoin (CRYPTO: DOGE) is heating up again as the meme coin shows strength following a period of consolidation and increased accumulation by whales.

Here's a look at what's happening with the Dogecoin price, what analysts are saying and what investors need to know.

What Happened: Dogecoin is trading at around $0.174 up 7.3% in the last 24 hours. The meme coin has seen its fair share of ups and downs and now appears to be showing signs of bullish momentum.

Dogecoin has been in a period of sideways trading and the market may be showing signs of indecision, but bullish forces appear to be returning.

For Dogecoin to continue moving higher, two key resistance levels will need to be broken. The first is at $0.18 and the second is at $0.21.

If those levels of resistance are cleared, it could set the stage for a much bigger move toward higher price points and validate analysts' bullish price targets.

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What Happened: One factor that has been key to Dogecoin's price action is increased activity from whales.

According to reports, large holders accumulated over 220 million Dogecoin in March 2025. The activity from whales shows a belief in the meme coin's potential.

Institutions and high-net-worth individuals buying a coin in bulk may also create FOMO, or fear of missing out, among smaller investors, leading to sustained price appreciation.

Dogecoin also broke out of a falling wedge chart pattern, which is a classic bullish formation that is said to come ahead of a large price move.

The meme coin has also been making higher lows, which may be a key signal of a strengthening uptrend. As the price moves lower, buyers are coming in at increasingly higher price points.

Dogecoin's bullish momentum is also being aided by positive sentiment in the broader cryptocurrency market. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are the two largest cryptocurrencies and both have seen recent price increases.

Historically, Dogecoin tends to follow the overall market trend, which could mean continued bullish sentiment in the crypto space may propel the meme coin's price higher.

Now, crypto analyst Ali Martinez says we could see a 270% rally in Dogecoin.

If this prediction plays out, we could see the meme coin move as high as $0.65, a price last seen during the previous major bull run.

Several factors are playing into the bullish outlook, including whale activity, technical breakout patterns and improving market sentiment.

Dogecoin appears to be at a pivotal moment with multiple indicators showing a major rally may be unfolding. Key resistance levels to watch will be $0.18 and $0.21, which could determine the next phase of the meme coin's price action.

With interest from whales increasing, bullish technical patterns forming and the market environment remaining favorable, Dogecoin is setting itself up for what could be a significant price surge. Investors and traders will want to keep an eye on these developments as Dogecoin prepares for its next big move.