Dogecoin (DOGE) is once again in the spotlight as market indicators suggest an imminent price surge. After a prolonged period of consolidation, DOGE has begun showing signs of upward movement, sparking excitement among investors and analysts alike.

Currently trading at around $0.17, the meme coin has experienced a 7.3% increase in the last 24 hours. However, a closer look at the trends in March 2025 reveal that whales have been busy accumulating large amounts of DOGE.

According to crypto analytics firm Glassnode, over 220 million DOGE was acquired by whales—typically defined as entities holding 10,000 or more of a cryptocurrency—in March 2025. This level of accumulation usually precedes major price movements, as large investors strategically position themselves ahead of expected rallies.

Moreover, data from futures trading platform As part of the analysis, the crypto analyst identified two key resistance levels that Dogecoin must overcome to confirm a full-fledged bull run. These are positioned at $0.18 and $0.21. According to Ali, a significant amount of DOGE was purchased at these price tiers, posing resistance to further upward movement.

“Breaking these levels would be a strong indication of bullish momentum, setting the stage for a potential 270% rally toward new multi-year highs,” said Martinez, adding that the probability of DOGE breaking these levels is increasing daily as broader crypto market sentiment becomes more bullish.

Markets participants will be closely monitoring price action to see whether Dogecoin can breach these critical thresholds and sustain its upward momentum.

If these resistance zones are crossed, it could set the stage for a substantial rally, potentially returning Dogecoin to the triple-digit territory it last saw in November 2021, at the peak of the meme coin mania.

Another encouraging sign for Dogecoin’s potential rally is the formation of a J-shaped pattern on the price chart, closely observed by technical traders. This pattern is said to closely mirror the structure seen before the 2017 bull run, when Dogecoin experienced a sharp price increase following a period of consolidation.

The recurrence of this pattern suggests that history could be repeating itself, with DOGE potentially preparing for a parabolic ascent. Technical traders often use such historical patterns as indicators of future price movements.

The J-shaped formation signifies a strong accumulation phase, followed by a breakout that leads to rapid price appreciation. If Dogecoin follows the same trajectory as in 2017, it could see substantial gains in the coming months.

Furthermore, futures trading data from As part of the analysis, the crypto analyst identified two key resistance levels that Dogecoin must overcome to confirm a full-fledged bull run. These are positioned at $0.18 and $0.21. According to Ali, a significant amount of DOGE was purchased at these price tiers, posing resistance to further upward movement.

“Breaking these levels would be a strong indication of bullish momentum, setting the stage for a potential 270% rally toward new multi-year highs,” said Martinez, adding that the probability of DOGE breaking these levels is increasing daily as broader crypto market sentiment becomes more bullish.

Markets participants will be closely monitoring price action to see whether Dogecoin can breach these critical thresholds and sustain its upward momentum.

If these resistance zones are crossed, it could set the stage for a substantial rally, potentially returning Dogecoin to the triple-digit territory it last saw in November 2021, at the peak of the meme coin mania.