Dogecoin (DOGE) Price: Key Resistance Levels at $0.18 and $0.21 Could Trigger Next Bull Run

TLDR

• Dogecoin has surged 7.3% over the past day, currently trading around $0.17
• Whales accumulated over 220 million DOGE throughout March, signaling strong buying interest
• Major resistance levels at $0.18 and $0.21 could be catalysts for the next bull run if broken
• Technical indicators show a bullish crossover on the RSI with buyers returning to the market
• Analyst Javon Marks predicts a potential 270% rally for DOGE, targeting $0.65 in the long term

Dogecoin has seen a significant price movement in the past 24 hours, with buyers returning to the market after a period of decline. The popular memecoin is currently trading around $0.17, marking a 7.3% increase in the past day.

This latest surge comes after DOGE declined to a two-week low of $0.160, prompting investors to buy the dip. The buying pressure has been instrumental in pushing prices higher.

The uptick is supported by growth in Dogecoin’s derivatives market. Options volume increased by 84.21%, while Options Open Interest rose by 8% to $804,000.

Trading volume for the cryptocurrency also saw a 22% increase, reaching $1.22 billion. Open Interest climbed 7.23% to $1.67 billion, indicating heightened market activity.

Dogecoin Price on CoinGecko

Whale Activity Driving Optimism

A key factor behind the recent price movement appears to be whale activity. Large investors accumulated over 220 million Dogecoin throughout March, suggesting strong buying pressure from major market players.

This accumulation by whales signals growing optimism about DOGE’s future price trajectory. When large holders increase their positions, it often precedes upward price movements.

The increased whale activity coincides with technical indicators pointing to further upside potential. A falling wedge breakout pattern has emerged, which typically precedes price rallies.

Dogecoin’s four-hour Relative Strength Index (RSI) has entered oversold territory, which often signals a price bottom. This technical indicator supports the case for continued upward momentum.

Analyst Ali Martinez has identified two major resistance levels for Dogecoin based on the UTXO Realized Price Distribution (URPD). These levels are $0.18 and $0.21, where approximately 8% and 7% of the supply was last transacted, respectively.

#Dogecoin $DOGE is facing two key resistance walls at $0.18 and $0.21. Breaking through both could be the catalyst for the next major bull rally. pic.twitter.com/NIln4NilM6

— Ali (@ali_charts) April 1, 2025

These price points represent psychological barriers where investors who bought at these levels might be inclined to sell when the price returns to their break-even point.

Martinez notes that breaking through both levels “could be the catalyst for the next major bull rally” as there are no other supply walls as large in sight beyond these points.

The largest supply wall for Dogecoin exists around the $0.07 level, where over 20% of all coins in circulation were last transacted. However, with DOGE currently trading well above this level, this supply is sitting on profit rather than acting as resistance.

Technical Indicators Turn Bullish

Technical analysis shows a bullish crossover on Dogecoin’s Relative Strength Index, suggesting that buyers have regained control of the market. When the RSI rises and makes a bullish crossover, it signals that buying pressure is exceeding selling pressure.

This buyer dominance is confirmed by positive order imbalance, indicating more buy orders than sell orders in the market. This behavior showcases strong bullish sentiment, as investors view current prices as favorable entry points.

Dogecoin’s Long/Short Ratio further confirms this trend, with longs spiking to 71.47% over the past day. Shorts account for only 28% of futures contracts, indicating that traders are positioning for price increases rather than declines.

If the Stochastic RSI completes its upward move and makes a bullish flip, it will validate the RSI’s bullish crossover, potentially confirming continuation of the uptrend.

Price Predictions and Targets

With this bullish momentum building, analysts suggest DOGE is likely to reclaim the $0.18 level in the near term. Success at this level could strengthen its position for a push toward $0.19.

Looking further ahead, analyst Javon Marks has made a more ambitious prediction. He observes that DOGE is forming a series of higher lows, a technical pattern that has preceded large price increases in the past.

Marks suggests that Dogecoin could rally over 270% from current levels, potentially reaching $0.65 in the long run. His analysis shows historical correlation between price rallies and the pattern of higher lows.

The recent breakout from a descending triangle pattern is seen as confirmation of this bullish setup. If the price continues to rise, breaking through the $0.25 barrier could pave the way for higher targets.

However, if buying pressure fades and sellers return to the market, DOGE could see a correction down to $0.168.

Despite previous downward trends that saw Dogecoin decline by 5.45% weekly and 15.5% monthly, the current market indicators suggest a potential reversal of this trend.

With Bitcoin maintaining its current pace and technical indicators aligning favorably, Dogecoin appears well-positioned for potential price increases in the coming weeks.