Key Notes

After a bearish start to April, which saw the leading meme coin, Dogecoin (DOGE), struggle to stay afloat, the coin has seen a fresh round of whale accumulation amid bullish predictions.

Despite opening the month with a promising rally that pushed DOGE to $0.20 on April 1, the coin faced selling pressure as it trades at $0.16 at the moment with a market cap of $23.7 billion.

However, on-chain data shared by popular analyst Ali Martinez shows that whales have scooped up over 800 million DOGE, or about $128 million, in just the past two days.

This comes as multiple analysts have recently hinted at an imminent breakout for DOGE.

suggest that DOGE is showing similar characteristics on MACD and RSI as it did in the final stages of its previous pullbacks.

As it nears the end of this pullback, $Doge is set to pump SOON 🚀

According to on-chain data by Coinglass, the DOGE UVCI funding rate has just started to tick upward. This suggests that some optimism is returning among leveraged traders.

However, open interest itself has remained mostly flat since early February, indicating that traders are still hesitant to commit to large directional bets.

Doge price outlook

On the daily chart, MACD is currently leaning bearish with the signal line still above the MACD line. However, analysts argue that a bullish crossover, if backed by volume, could quickly flip the narrative in favor of the bulls.

Moreover, RSI stands at 45, indicating mild bearish pressure without being in oversold territory. A further dip in RSI may open the door for more losses, while an upward move may trigger a recovery rally.

The Bollinger Bands are widening, a signal of heightened volatility. The price is approaching the mid band (20-day SMA) at $0.16. If the coin manages to sustain above this level, it could see a short-term rally to the upper band (around $0.18925).

A breakout above the upper band might propel the coin toward new local highs. On the other hand, the lower band stands at $0.148, and failure to hold this level might result in deeper pullbacks.

On April 13, popular crypto chart analyst Javon Marks suggested that DOGE is aligning with a historical pattern.

This can result in an AT-LEAST +200% to +330% move above $0.73 ⤴️…

According to his analysis, on the bi-weekly chart, he predicts a potential increase of at least 200–330% that could push DOGE beyond its previous all-time high of $0.73.