Dogecoin (DOGE) is showing signs of a major price move as technical indicators, positive market sentiment, and large-scale accumulation all align for the first time in months. After surging 75% from April’s low to trade at $0.2280, the world’s most famous meme coin is now poised for another big jump. Here are the top three reasons analysts believe DOGE could leap 110% to retest its previous highs in the weeks ahead.
Technical Patterns Signal a Breakout in the Making
On the daily chart, Dogecoin is displaying a classic bullish flag formation—a sharp upward rally followed by a tight, sideways consolidation. This pattern is typically a precursor to another upward surge once the price breaks above the flag’s resistance. Adding to the optimism, DOGE is on the verge of forming a mini golden cross: the 50-day Exponential Moving Average (EMA) is set to overtake the 100-day EMA. Both signals suggest the potential for an aggressive move, with $0.4815 (the November 2023 high) as the next major resistance. However, if DOGE falls below $0.20, the bullish scenario could quickly unravel.
Positive Funding Rates Reflect Strong Market Sentiment
Dogecoin’s bullish momentum is further reinforced by persistently positive funding rates in perpetual futures markets. Since March 31, the eight-hour funding rate has stayed positive and continues to climb, according to CoinGlass data. In these markets, a positive funding rate means that traders holding long positions are paying fees to short sellers—a clear indication that most market participants expect higher prices ahead. Such sentiment often precedes price rallies, as it shows confidence in continued upside.
Whale Accumulation and Exchange Outflows Support Higher Prices
Large Dogecoin holders, known as “whales,” are stepping up their accumulation. According to Santiment, addresses holding between 100 million and 1 billion DOGE now control over 26.46 billion tokens—their highest level since December 2023. This is a jump from 23 billion tokens in January, showing that big players are betting on further gains.
At the same time, data reveals over $695 million in DOGE has flowed out of exchanges since April 1. Investors are moving their coins into self-custody, a classic bullish sign that signals long-term confidence and reduces the immediate supply available for trading. When combined with the rising holdings among whales, these trends suggest the current rally could have much more room to run.
What to Watch Next
If Dogecoin manages to break above the bullish flag pattern, a run toward $0.48 is on the table—representing a 110% gain from current prices. Technical traders will be watching for continued support above $0.20, as a drop below that level could derail the rally. For now, however, DOGE has a trifecta of bullish indicators fueling optimism for its next big move.
