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Dogecoin (DOGE) may be gearing up for a strong bullish move, according to a crypto analyst who believes the price could rally to $0.2596—if a crucial support level continues to hold. With momentum indicators showing strength and whale accumulation on the rise, the current setup has caught the attention of traders across the market.
Over the past week, DOGE has posted a modest 2.8% gain, showing signs of steady recovery despite resistance near the $0.17 range. While the price action has been somewhat choppy, technical patterns suggest a bigger breakout could be on the horizon.
Double Bottom Pattern Forms at $0.1467 Support
Crypto market analyst Tom Tucker has pointed to a double bottom pattern forming on the DOGE/USDT daily chart—a well-known bullish reversal setup. According to Tucker, this pattern has developed around the $0.1467 support zone, where Dogecoin has seen strong buying interest multiple times.
The first low occurred on April 7, 2025, when DOGE dropped to $0.1299 before bouncing back toward $0.25. The second bottom came on June 22, with a dip to $0.1437, followed by another rebound. These similar price levels reinforce the significance of the support line, and if Dogecoin can maintain above it, the neckline target of $0.2596 could become achievable.
Momentum Indicators Show Bullish Signals
Supporting this technical setup, several key indicators now point to improving momentum. The Relative Strength Index (RSI) has moved above 47, approaching the neutral 50 level, which often marks a shift from bearish to bullish conditions.
The MACD (Moving Average Convergence Divergence) has also flashed a bullish crossover, with the MACD line crossing above the signal line. This is commonly seen as an early sign of upward price momentum and adds confidence to the bullish outlook.
Whale Accumulation Adds Strength
On-chain data shows that large Dogecoin holders (whales) are increasing their positions. Over the past 30 days, whales have grown their share of the DOGE supply by 0.34%, while the portion held by smaller investors has declined by 2.59%.
This shift suggests that experienced or long-term holders are accumulating DOGE at current levels, which is generally seen as a bullish sign. When strong hands accumulate, it often signals belief in higher prices ahead.
Fibonacci Levels Outline Key Resistance Zones
A Fibonacci retracement drawn from DOGE’s macro low of $0.09242 to its high of $0.48 in December 2024 gives a roadmap for future resistance levels.
Currently, DOGE is trading just below the 0.786 Fib level at $0.17640, acting as immediate resistance. The next big challenge lies near the 0.618 Fib level at $0.24233, which is close to the double bottom neckline target of $0.2596. If price manages to break through this range, upside targets could include the:
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0.5 Fib level at $0.28864
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0.382 Fib level at $0.33495
These levels were significant during Dogecoin’s last major rally and may once again act as price magnets.
On-Chain Supply Zones Highlight Resistance Clusters
The UTXO Realized Price Distribution (URPD) chart from Glassnode provides another layer of insight. It shows at which prices large volumes of DOGE last changed hands. These levels often act as resistance, where holders may choose to sell.
Major resistance supply clusters include:
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$0.1774 (8.94% of DOGE supply)
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$0.2069 (7.24%)
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$0.3622 (3.82%)
If DOGE can clear $0.21, it may trigger a more significant rally toward the $0.36 region, as fewer sellers remain above those levels.
Dogecoin Price Outlook: $0.2596 in Sight
At the time of writing, DOGE trades around $0.1681. To reach the $0.2596 neckline target from here, the asset would need a gain of roughly 54.45%. While that may sound ambitious, the combined factors of bullish technical patterns, improving momentum indicators, and whale accumulation offer a solid foundation for potential growth.
However, the condition is clear: Dogecoin must hold above the $0.1467 support zone. A breakdown below this level could invalidate the bullish setup and reopen the possibility of a retest toward lower support zones near $0.13.
Conclusion
The Dogecoin price path to $0.2596 remains open, but only if bulls can maintain the support base around $0.1467. With technical indicators aligning, on-chain trends shifting in favor of whales, and a classic double bottom formation in play, the next few weeks may prove crucial for DOGE.
Investors should watch closely for a confirmed breakout above $0.176 and a push toward the neckline. If successful, it could mark the beginning of a stronger recovery trend heading into Q3 2025.
