Dogecoin (DOGE) Price Prediction: Potential Rally to $20 as Whales Accumulate Coins

Despite recent challenges in the market, including heightened volatility, some believe that the top meme coin could see significant upward movement soon.

Dogecoin (DOGE) has been consolidating in a tight range, but some analysts are predicting a potential price rally to $20. Despite recent challenges in the market, including heightened volatility, some analysts remain optimistic and see the possibility of the top meme coin experiencing significant upward movement soon.

According to crypto analyst Ali charts, the current market structure and on-chain data suggest that a breakout could be imminent, potentially setting the stage for a dramatic rise in Dogecoin price.

Dogecoin Price Market Trend, DOGE Rally Looming?

Dogecoin has remained in a tight consolidation range since March 11, trading between $0.16 and $0.18. This range has become a critical battleground, with investors waiting for clear direction. On-chain data, however, paints a different picture. Over the past week, DOGE whales have accumulated over 120 million Dogecoin, signaling a possible shift in market sentiment.

Despite the sideways movement in price, this accumulation trend suggests that large holders are positioning for a potential price surge. Analysts believe that this increased whale activity could be the foundation for a future rally.

If the meme coin manages to break through the $0.18 resistance zone, it could potentially trigger the next phase of its upward trend. According to some analysts, this could eventually lead to the much-anticipated $20 target, although the timing and specific market conditions remain uncertain.

If the price moves above the 0.618 Fibonacci level, it could signal a bullish continuation, with some analysts like Ali charts predicting a price increase toward higher levels. If this trend holds, the path toward a $20 price target may become more feasible.

On-chain data from analysts such as Ali Martinez shows the recent surge in DOGE whale activity. Over 120 million Dogecoin has been accumulated in just one week, a sign that large holders are positioning themselves for a potential rally. Whale behavior is a key indicator in predicting future price movements, and this accumulation trend suggests growing confidence in Dogecoin’s prospects.

Many analysts believe that if the price breaks through key resistance levels, such as the $0.18 zone, Dogecoin could see upward movement. The current accumulation of whales is a supportive factor for this potential rally.

Concurrently, another analyst Kevin, according to his forecast, Dogecoin price is currently at a crucial support level, holding around $0.139, which serves as the last line of bull market support. The weekly demand candle from last week signals potential strength, but maintaining this level is key as the 3-day MACD, weekly Stoch RSI, and 2-week Stoch RSI approach full resets.

If the top meme coin loses $0.139 on weekly closes, it could signal downside risk, but the risk-reward ratio remains highly favorable for traders looking to enter. With Bitcoin holding above $70K, this setup suggests Dogecoin price could be gearing up for a strong upside move.