Dogecoin (DOGE) Price Breaks Above Descending Trendline, Targeting $0.80

Dogecoin price has broken above a descending trendline that had capped gains since January 18. The breakout occurred alongside a strong 18% increase

Dogecoin price broke above a key trendline on Friday, marking a potential reversal from two months of lower highs. The breakout occurred alongside a strong 18% increase over the last three days.

At press time, DOGE traded around $0.195, showing a 4% gain in the past 24 hours. Volume during this move reached 19.81 million, according to the 4-hour chart on TradingView.

This trendline break follows two months of lower highs with DOGE remaining below the 50-period EMA. However, the recent surge has pushed it above that level, which may now offer short-term support. The 50 EMA is currently at $0.182.

Chart : Dogecoin price is showing signs of a potential trend reversal.

This chart movement puts Dogecoin ahead of all top 30 cryptocurrencies by market cap this week and marks DOGE’s highest weekly performance in 2025 to date.

On the same 4-hour chart, the RSI (14) has climbed to 70.87, suggesting higher momentum. The RSI crossed above the 61.47 average, which indicates stronger buying interest.

Traders are now focusing on the DOGE $0.2 level. If price holds above this zone, it could indicate sustained breakout momentum.

Whales Bought Over 200 Million DOGE

Meanwhile, on-chain data reveals that whales have been accumulating large amounts of DOGE.

Specifically, Ali Martinez, a well-known analyst, reported that the buying activity added more than 200 million DOGE in just two weeks.

This accumulation comes during a period of market volatility, according to his statement.

On-chain data from Glassnode shows that around 7% of DOGE’s supply is concentrated near the DOGE $0.2 level. That range could act as either resistance or support, depending on price movement.

According to Glassnode, there is minimal resistance between $0.20 and $0.31. This creates a potential gap for a 55% rise if DOGE holds above the current level.

Several analysts have also published new DOGE chart updates.

For instance, TradingShot set a DOGE $0.8 price target, which is above the previous high of $0.73. Their analysis points to resistance at $0.30, but also notes a strong shift on the DOGE RSI.

Chart : Dogecoin price could be setting up for a continuation of the 2023 bull market.

Their model suggests that this may reflect a new phase in the market. The DOGE RSI is trending upward on the daily chart, reinforcing this view.

Trader Tardigrade released a DOGE chart suggesting the price could reach $6 over time, completing what they call “cycle 3.” They expect DOGE to touch $1 by June.

Master Kenobi also shared a similar DOGE chart, forecasting a level of $1.1 by mid-year. This projection is based on observed patterns in DOGE’s price movements, particularly drawing parallels to its behavior during the 2017 bull run.

In his analysis, Master Kenobi notes that during the 2017 cycle, DOGE experienced two significant price surges of similar magnitude and duration. The first surge was followed by a retracement and an extended consolidation period before the second parabolic rally to new highs. By comparing the current price action to this historical pattern, he suggests that DOGE might be entering a similar phase, potentially leading to a price peak of $1.1 around June 2025.

Dogecoin Reserve Launch Draws Attention

On March 24, the Dogecoin Foundation launched the Dogecoin Reserve through its new corporate arm, House of Doge. The Reserve began with a purchase of 10 million DOGE at market price, marking a key step toward positioning Dogecoin as a functional global payments solution.

According to the official press release, the DOGE Reserve aims to improve liquidity and transaction reliability for merchants and users. The team plans to publish the wallet address once the transfer is complete.

This move, announced shortly before Dogecoin’s recent price breakout, is designed to demonstrate that DOGE can enable smooth and efficient real-world payments.

Michael Galloro, Board-Elect member of House of Doge, highlighted that the reserve will help “bridge the gap between transaction processing times and real-world usability.”

By creating a strategic reserve, the group wants to address issues like lag in digital currency transactions, which often prevent crypto from functioning like traditional payment methods.

The foundation outlined several key reasons behind the DOGE Reserve:

Low transaction fees: Cheaper than legacy payment systems.

Inflationary supply model: Maintains liquidity for everyday use.

Simple user interface: Easy integration for new crypto users.

The group also noted its plans