Dogecoin on-chain metrics continue to show strength, opening up opportunities for a major rally in the future.

Popular crypto analyst ‘Trader Tardigrade’ believes that the chart of this memecoin is similar to the pattern of 2014-2018, which could potentially trigger a parabolic price surge to reach $18.

Dogecoin On-Chain Metrics And Whale Activity

Popular crypto analyst, Ali Martínez, reported that Dogecoin is experiencing a surge in several key on-chain metrics, including the number of active DOGE addresses, transaction volume, and whale activity.

#Dogecoin $DOGE is seeing a rise in active addresses, transaction volume, and whale activity. All bullish signals that could support further upside! pic.twitter.com/pRHObYo60J

As such, these memecoins are showing strength on multiple fronts at this stage, which could be the foundation for future DOGE price rallies.

On the other hand, there has been massive buying by whales of these memecoins in the past month.

In a striking trend, Dogecoin (DOGE) whales have amassed more than 1 billion DOGE tokens over the past month, highlighting increased interest and activity from large investors.

Ali Martínez shared this data and highlighted that the accumulation is a bullish indicator. Increased whale activity often correlates with market confidence and can signal potential future price movements.

Whales have bought over 1 billion #Dogecoin $DOGE in the past month! pic.twitter.com/VVzwO7yLnM

DOGE Price Movement Going Forward

As of May 16, 2025, the Dogecoin (DOGE) price seems to be forming a strong foundation around $0.22. The nearest resistance level is at $0.27. If it is able to break this level, it could pave the way for another bullish rally.

Additionally, renowned crypto analyst, Trader Tardigrade, stated that the memecoin is preparing to enter the next major super cycle. He identified signs of a potential “Super Cycle 2” for Dogecoin.

#Dogecoin Super Cycle 2 🔥Based on Cycle 1, $DOGE at this level presents a significant opportunity.It could experience rapid growth in the coming months. 🚀 pic.twitter.com/0YtzcU2L8w

By comparing its first explosive growth phase, Tardigrade highlights that DOGE’s current price level could be a great opportunity for investors.

“If this trend reflects Cycle 1, then $DOGE has the potential to experience rapid growth in the next few months,” he said.

Furthermore, the analyst points out that the DOGEUSD chart pattern shows a striking resemblance between two major market cycles: 2014-2018 and 2021-2025.

#Dogecoin repeats the macro chart pattern in 2014-2018 🔥$Doge pic.twitter.com/IoUwomhopW

The logarithmic price scale on the right side of the chart shows the price range from fractions of a penny to over $17. Retail investors are advised to be patient in order to enjoy the potential for a big rally to come.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.