Dogecoin (DOGE) Price Prediction: Breakout From These Resistance Levels Could Trigger a New Bull Rally

Dogecoin, the largest dog-themed meme coin, is gaining attention as it shows multiple signs of upward movement.

Dogecoin price is showing multiple signs of upward movement as it begins to recover from bearish pressure.

Also, the meme coin is gaining attention as it shows technical breakout and institutional interest.

Dogecoin Price Analysis: Two Key Resistance Levels to Watch

Dogecoin is currently trading at $0.174, having risen by 7.3% in the last 24 hours.

The meme coin has seen traders and investors returning to the popular cryptocurrency.

According to crypto expert Ali Martinez, Dogecoin is now setting its sights on a potential uptrend.

However, it still has two key resistance levels to overcome before it can truly rally.

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.

At these two price levels, a huge amount of coins were purchased, which could stall a bullish rally.

Dogecoin Price Chart: Awaiting Breakout

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 bought more than 220 million DOGE in March 2025 alone.

This large-scale buying reflects the 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.

Dogecoin: Chart Analysis Reveals Potential 270% Rally

Market enthusiasts are closely watching the Dogecoin price charts for signs of an expected rally.

Recent technical analysis has revealed several bullish indicators that could favor a breakout.

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 also 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 manages to maintain its position above key levels, analysts believe that DOGE could target the $0.22-$0.25 region in the coming weeks.

Dogecoin: Unpacking Supply Dynamics and Resistance Levels

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.

"Breaking these resistance levels could unleash a strong upward movement for Dogecoin, as there are no major supply barriers ahead," Martinez adds.

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.

This pattern is usually a precursor to strong rallies in price action.

Shifting Sentiment and Derivatives Activity

Market sentiment also appears to be shifting in Dogecoin's favor. The Long/Short Ratio indicates that 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