Recently, the Dogecoin market has shown significant movement: large investors ('whales') concentrated their buying during price corrections, increasing their holdings by approximately 138 million DOGE in a single day. This movement has strengthened market expectations that the price of Dogecoin may rebound from a bottom.
Although this meme coin has experienced price adjustments in the past week, the buying behavior of the whales suggests that some institutions or seasoned investors are betting that it is close to a temporary bottom. Anonymous analyst Tartigrade pointed out that the current market structure may hide undervalued bullish opportunities.
From a technical perspective, the sharp price drop in October caused DOGE to retest the Fibonacci key levels in the range of $0.109 to $0.272. With long-term support around $0.15 facing another test, the market pattern is highly similar to the scenario before the bull market kick-off in 2024, with even more pronounced volatility. If historical trends repeat, Dogecoin may still be in the early stages of a major upward wave in this cycle.
On-chain data also provides support. Glassnode statistics indicate that the circulating supply of DOGE currently in profit has decreased, and the seven-day moving average reflects that the number of profit addresses is below the previous cycle peak.
This pattern often appears during market consolidation phases, suggesting that if demand rebounds, there is upward price potential.
Analysts point out that if DOGE can maintain above the support level of $0.15, a descending triangle pattern that has persisted for nearly a year may gradually transform into upward momentum.
Momentum indicators are also conveying positive signals: the RSI has formed multiple bullish divergences during the price decline, indicating that selling pressure is gradually weakening; although the MACD has shown a death cross, the selling force seems to have diminished, and a trend reversal may be imminent.
The key resistance level is located at $0.18 (historical support conversion point) and around $0.22. If a valid breakthrough can be achieved subsequently, the technical pattern target range could look up to around $0.50, representing a potential increase of about 310% from the current level. If the strong momentum can be maintained in the medium to long term, it may even challenge the $1 mark, corresponding to an increase of about 710%.
The macro environment may also provide support. The market expects the Federal Reserve to possibly shift to a quantitative easing policy around 2026; if true, the increase in liquidity is expected to further boost risk asset preference, creating favorable conditions for the cryptocurrency market, including Dogecoin.
