Popular meme cryptocurrency, Dogecoin (CRYPTO: DOGE) entered April 2025 with an intraday surge of +5% to reach $0.174 trading value on Tuesday. Along with the broader market uptick, the buying pressure followed an active accumulation in March, which positions DOGE for a strong rebound. Is the renewed bullish momentum sufficient to surpass the $0.2 barrier?

On Tuesday, the cryptocurrency market witnessed a bullish bounce following Bitcoin's (CRYPTO: BTC) breakout from the $85,000 mark. Along with a broader market uptick, the onchain data shows the notable accumulation of DOGE tokens from large-scale investors, reinforcing its potential for a bullish turnaround.

In a recent tweet, crypto analyst, Ali Martinez reported that crypto whales scooped up more than 220 million DOGE tokens over the past month. While Dogecoin's price has seen fluctuations in March, the steady increase in holdings among large wallets may signal bullish intent.

🚨 #Dogecoin experienced significant on-chain activity in March.

Despite the recent price decline, crypto whales have been actively accumulating $DOGE.

🐳 Since last month, large-scale investors have added more than 220 million DOGE to their holdings.

This persistent accumulation bodes well for a potential bottom formation and a subsequent recovery in the meme coin's value.

As highlighted before, such accumulation trends usually bolster major bottom supports and drive a sustained recovery in several cryptocurrencies.

However, the potential for a prolonged correction exists if sellers manage to maintain dominance at the neckline or wedge resistance.

This would render the recent price uptick as a bear market rally, setting the stage for further testing of lower support levels.

Only time will tell which scenario unfolds.

Stay tuned for further updates.

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— Ali Martinez (@ali_aj_martinez) March 27, 2025

Historically such accumulation trends have boosted major bottom supports and driven a sustained recovery in several cryptocurrencies.

DOGE Price Poised For Major Breakout

Amid the recent market uptick, the Dogecoin price showcased its sustainability above the $0.16 level. This new higher low formation shows renewed buying interest among whales, and the formation of inverted head and shoulder.

The chart setup is formed by three key points; a left shoulder, a deeper head, and a right shoulder followed by a breakout above the neckline (resistance level). A successful flip of the overhead resistance into potential support will accelerate the bullish momentum and set the asset for a 35% surge to challenge the wedge resistance at $0.25.

On the contrary, if sellers remain dominant at the neckline resistance or wedge resistance, the current correction could be prolonged from April.

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