Dogecoin has entered a critical phase, repeating patterns seen in previous bull cycles. As it holds above key support levels and whale accumulation increases, analysts suggest that DOGE may be preparing for another price surge of +215% to a minimum of $0.73905 based on historical trends.
Whale Accumulation and Network Activity Strengthen the Bullish Case
Dogecoin is currently trading around $0.22, recently bouncing off the support level of $0.215. The 200-day exponential moving average (EMA) at $0.21 continues to serve as a solid foundation for price stability. According to an analysis prepared by Ali Martínez, over 1 billion DOGE has been accumulated by large holders in the past month. This behavior from whales indicates long-term bullish prospects.
At the same time, Dogecoin's on-chain metrics are showing strong growth. Active addresses have increased by over 100%, while network transactions skyrocketed by 990% in just one week, according to data shared by Dogegod on X. These figures indicate growing interest and participation across the Dogecoin network, which often precedes price surges.
Volume also remains a major focus. DOGE's daily trading volume recently reached $2.84 billion, surpassing several top cryptocurrencies. Maintaining volume at this level could support a breakout above current resistance zones.
Technical Structure Reflects Previous Price Increases
From a technical standpoint, DOGE is forming a rising wedge pattern. The support level around $0.215 closely aligns with the 0.236 Fibonacci retracement level. If the price breaks above $0.223 with volume, it could confirm a new upward trend.
According to analyst Javon Marks, DOGE may have been trending towards higher highs and higher lows, consistent with previous breakouts. The resistance zone between $0.25 and $0.26 remains a key factor.
A confirmed close above this range could pave the way towards the Fibonacci extension of 1.618 at $0.258 and then $0.280. Based on previous cycle setups, this could ultimately push DOGE to $0.73905 or higher.