Dogecoin (DOGE) is once again turning heads across the crypto market after gaining over 6.5% in the past 24 hours. However, traders aren’t just excited about this short-term spike. Data suggests a potential 25% Dogecoin price rally could be around the corner—but there’s one crucial resistance level DOGE must clear first.

The coin recently surged past a local resistance level, triggering renewed optimism among investors. But that optimism was briefly shaken by a sudden move from a whale wallet that deposited a massive amount of DOGE to Robinhood. Let’s unpack the key developments that could either propel or stall the next major rally for Dogecoin.

Whale Transfer trigger Jitters, But Market Metrics Remain Bullish

According to Whale Alert, a wallet holding 155 million DOGE—worth several million dollars—moved the entire stash to Robinhood, a centralized trading platform. Such transfers often trigger concerns about potential sell-offs, especially when they occur just after a price breakout. While there’s no confirmed sale yet, the timing raised alarms among retail traders and analysts alike.

Still, the broader market data appears to paint a more bullish picture. CoinGlass data reveals that long leverage is clearly dominating among DOGE traders. At the time of writing, Dogecoin recorded $22.64 million in long liquidation leverage compared to $18.85 million in shorts. This means more traders are betting on the price moving higher, rather than expecting it to fall.

What’s even more telling is that this long leverage is heavily concentrated between $0.1876 and $0.1984—a tight price cluster that lies just beneath a key resistance level at $0.1985. If Dogecoin pushes through this zone, a series of liquidations could be triggered in short positions, fueling a short squeeze and pushing the price even higher.

Exchange Outflows Signal Accumulation

Alongside bullish derivatives data, DOGE also saw significant activity in the spot market. Over the last 24 hours, approximately $6.32 million worth of DOGE was pulled from centralized exchanges. This outflow is often interpreted as a sign of accumulation, as traders typically withdraw assets for long-term holding or staking rather than selling.

Combined with rising leverage and trading volume, this suggests growing confidence among both retail traders and whales. In fact, long leverage is especially prominent on Binance and Bybit, two of the world’s most active crypto trading platforms. This indicates that sentiment isn’t isolated—it’s shared across global markets.

Trading Volume Surges 65% as Price Climbs

Following the breakout past the descending trendline, Dogecoin gained nearly 5% within hours, pushing past local resistance around $0.196. As of the latest update, DOGE is trading at around $0.195 after reaching a 24-hour high of $0.198—just a hair away from the key breakout level.

What adds weight to this rally is the spike in trading activity. Daily volume has surged by over 65%, showing that the price move is backed by real buying interest rather than low-volume volatility. Such volume spikes often precede or confirm trend shifts.

If DOGE manages to close a daily candle above $0.1985, technical analysts expect the price to target the $0.25 level—an approximate 25% increase from its current position. This would mark one of Dogecoin’s most significant rallies since early 2024.

Why $0.1985 Matters So Much

The $0.1985 resistance isn’t just a psychological barrier—it’s also where a large number of short positions have been placed. Breaching this level could trigger cascading liquidations, which may act like fuel for a rapid upward price surge.

Analysts at AMBCrypto believe that breaking this line could open the path for DOGE to run toward $0.25, especially if supported by volume and continued accumulation. The token  recent price structure supports this view. After spending weeks in a downtrend, Dogecoin has now flipped a descending trendline into support, setting the stage for a bullish continuation pattern.

Final Thoughts: Bullish Setup, But Caution Still Needed

While the current setup for Dogecoin looks promising, investors are urged to proceed with caution. The whale transfer to Robinhood, although not yet confirmed as a sell-off, remains a key factor to monitor. Additionally, if DOGE fails to close above $0.1985 in the next couple of sessions, the rally could stall, triggering renewed consolidation or a pullback.

However, if bullish momentum continues, especially with leverage and spot trends lining up, Dogecoin might not just test $0.25—it could potentially surpass it in the weeks ahead. The next few days will be critical in determining whether this breakout is the beginning of a larger trend or a short-term move capped by resistance.