Dogecoin (DOGE) price surged 18% over the past week, hitting $0.1965 on March 26. The memecoin outperformed the broader market and now shows early signs of entering a bullish trend.
The breakout followed a rejection of its multi-month descending trendline. This marked its highest weekly return in 2025, last seen in late Dec. 2024.
Analysts attributed the rally to a combination of technical strength, on-chain data, and growing investor engagement.
Dogecoin Price Hits Supply Wall at $0.20, Eyes $0.31 Next
DOGE currently faces resistance at the $0.20 level, where 7% of its supply sits, according to Glassnode.
This concentration, tracked using Unrealized Price Distribution (URPD), marks a key decision point.
Glassnode data suggests that once Dogecoin price clears $0.20, the next supply cluster lies at $0.31.
That gap increases the chance of a quick 55% move, provided volume supports the breakout. As per Glassnode’s observations,
“Watch for breakout momentum if volume picks up.”
Dogecoin Price Tests Support While Eyeing Critical Breakout Zone
Analyst Ali Martinez flagged $0.177 as Dogecoin price’s main support level. He also pointed to $0.207 as immediate resistance, warning that bulls need a clean break above $0.21 to confirm any upward momentum.
In a separate post, Martinez said the SuperTrend indicator would flip bullish once DOGE clears $0.21. The token currently trades just below that threshold.
Technical analyst TATrader_Alan noted a large cup-and-handle structure forming on DOGE’s macro chart.
He argued the setup could pave the way for a move toward $5.00—if the coin breaks the $0.21–$0.31 resistance band.
Meanwhile, AMCryptoAlex said Dogecoin price recently retested its long-term support trendline.
He called it “a vital technical occurrence,” adding that this level has historically marked the start of major rallies.
Open Interest and RSI Confirm Bullish Bias
Open interest for Dogecoin rose by 3.25% in the last 24 hours. Data from Coinalyze shows OI currently stands at $961 million, indicating increased trader engagement.
The Relative Strength Index (RSI) is at 52.67, suggesting balanced momentum with a slight bullish tilt.
The Cumulative Volume Delta (CVD) also climbed to 152.31 million, implying stronger buying pressure.
Meanwhile, the Moving Average Convergence Divergence (MACD) for Dogecoin price remains in bullish territory. The histogram shows minimal momentum loss, hinting at sustained upside.
House of Doge’s Reserve Initiative Boosts Sentiment
The rally followed news from March 24 that the House of Doge had launched an official DOGE reserve.
The group announced the purchase of 10 million DOGE tokens to promote liquidity and market stability.
The foundation has yet to transfer the tokens but said it would release the reserve address for transparency.
Market sentiment reacted positively to the news, helping push DOGE above its three-month descending trendline.
DOGE Needs Volume to Confirm Next Leg
For now, the focus remains on $0.21. If Dogecoin price breaks above that level on strong volume, analysts expect price discovery toward $0.31, then possibly $0.50. Ali said,
“DOGE could enter a bullish phase upon breaking the $0.21 resistance.”
DOGE trades at $0.1942 at the time of writing, showing 0.84% decrease. Momentum continues to build.
