The popular meme cryptocurrency, Dogecoin, entered April 2025 with an intraday surge of +5% to reach $0.174 trading value. 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?
Key Highlights:
- Over 220 million DOGE tokens were accumulated by large investors in March.
- The Dogecoin price stands 6% away from challenging the neckline resistance of inverted head and shoulder patterns.
- A potential bearish crossover between the 100-and-200-day Exponential Moving Average could invalidate the bullish thesis and drive an extended correction
Dogecoin Price Gain Momentum Amid Whale Buying
On Tuesday, April 1st, the cryptocurrency market witnessed a bullish bounce following Bitcoin’s 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.
Historically such accumulation trends have bolstered 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.
Also Read: AAVE Price Faces $150 Breakdown As Whale Exodus Accelerates
