Key Highlights
- On February 25, Dogecoin (DOGE) witnessed an upward momentum, surging by over 7% on a daily chart
- The upward momentum came after Bitcoin (BTC) witnessed a rally in the price and it triggered a correlation in altcoins
- According to analyst, DOGE is forming a broken broadening wedge pattern on the daily chart and it could see breakout in the price if momentum continues
On February 25, Dogecoin (DOGE), the biggest memecoin, witnessed a huge spike of 7.4% after the upward momentum in Bitcoin (BTC).
According to CoinMarketCap, DOGE is trading at around $0.1011 with an impressive market capitalization of $17.09 billion. The memecoin’s 24-hour trading volume also increased by more than 100% to $1.72 billion.
Dogecoin Gains Momentum with Rally in Bitcoin
This surge in Dogecoin is directly correlated with today’s rebound in Bitcoin (BTC). After a sharp fall in the last week, Bitcoin climbed around 8% to reclaim $69,000. This is one of the biggest rallies in recent weeks. This comes after weeks of selling pressure that had declined its value below $62,000.
According to some experts, this rally in the crypto market is linked to Circle Internet Group Q4 2025 earnings, released after market close on February 25.
Circle reported revenue and reserve income of $770 million, which is 77% more than the year-over-year. USDC circulation expanded 72% to $75.3 billion, with mining activity up 107% and redemptions surging 157%. Apart from this, the report revealed that EBITDA soared 412% to $167 million.
Also, the company’s shares jumped as much as 35% in response. This is the largest single-day gain in the company’s history.
On-chain data confirms the mechanics behind the rally in the memecoin. Coinglass reported $1.57 million in DOGE short positions liquidated within a single hour on February 25. This was part of $5.14 million in total liquidations over 24 hours, with more than 75% being shorts.
The forced covering created a “self-reinforcing feedback” loop. As the price soared through major resistance at $0.098 to $0.10, that level flipped to become support. This means previous sellers turned into buyers. This creates the upward pressure.
According to the analyst, Dogecoin is trading above the broken broadening wedge pattern on the daily chart. If it achieves success in retest above the pattern, price momentum could drive toward $0.45.
The current pattern is giving bullish signals as higher lows were created around $0.094. The Relative Strength Index, or RSI, was exiting extremely oversold territory.
However, there is fear in the market that if Bitcoin fails to hold the $68,500 level, DOGE can see potential retracement.
Also Read: HashKey Group Launches One-Stop RWA Solution for HK
