Bitcoin (BTC) is showing signs of a potential rebound above $90,000, and Dogecoin (DOGE), the leading proof-of-work (PoW) memecoin, may be nearing its bottom. Since March 11th, Dogecoin's price has rebounded over 15%, trading around $0.1721.

Dogecoin's price often correlates with Bitcoin's, suggesting a near-future rebound is likely. Furthermore, the easing yields in the U.S. bond market, coupled with the ongoing gold bull rally, could significantly benefit the cryptocurrency market.

Dogecoin Price Expectations

Technically, Dogecoin's price has been forming a macro upward trend, characterized by higher highs and higher lows. After a decline since the second inauguration of U.S. President Donald Trump, Dogecoin has been retesting the lower boundary of a rising channel over the past two weeks.

On a daily timeframe, Dogecoin has formed an ascending triangle after being contained within a parallel downward trend. A sustained close above the resistance level of approximately $0.178 could lead to a 15-20% price increase in the coming days, retesting the upper boundary of the falling logarithmic trend.

Conversely, a sustained close below $0.16 could trigger further selling pressure, potentially targeting $0.14.

Fundamental Outlook

Dogecoin has developed a thriving ecosystem, supported by institutional investors involved in mining and global merchants accepting it as payment. Currently, the Dogecoin network boasts approximately 6.2 million on-chain holders.

On-chain data reveals a significant increase in whale activity over the past week. Investors holding between 1 million and 10 million DOGE added approximately 110 million coins, bringing their total holdings to around 10.44 billion.

Simultaneously, the number of active addresses on the Dogecoin network has doubled in recent weeks, reaching approximately 280,000.