Doge shows strong signs that a rally could be imminent. On-chain data draw up a bullish table, with several key indicators becoming positive.
In short
- Doge's active addresses jumped 528 %, indicating an increasing interest in investors.
- DOGE recently crossed important technical figures, suggesting a bullish reversal.
- Analysts target $ 0.40 as the next key level, some predicting $ 1 during a bullish cycle.
The growing on-chain activity of Doge shows a growing interest in investors
Analyst Crypto Ali Martinez revealed on May 15 an increase in active addresses, the volume of transactions and the activity of whales for Doge. According to him, these are all signs that the dynamics accumulate. In another post, he noted That the whales accumulated more than a billion Doge just last month.
To feed this optimism, Chaingpt aian AI aggregator on X, reported a massive increase of 528 % of active addresses, reaching 469,000. He also noted that the open interest in future jumped 70 % to reach $ 1.65 billion. According to the AI, with an increasing demand and a revival of excitement around ETF, analysts are considering a potential movement around $ 0.40. She also underlined the formation of a reverse head-head-update pattern on the graphics, further strengthening the Haussier scenario.
The increase in whale activity is particularly important because it can point out the positioning of smart money before an increase in prices. When whales move, special traders often follow them, boosting market dynamics and triggering a fear of missing the train (FOMO), which can speed up the buying pressure.
Technical breaks report a bullish reversal
Currently, Dogecoin is negotiated around $ 0.22, slightly dropped by less than 1 % over the last 24 hours. But technically, it seems that the part has already crossed key resistance areas.
At the beginning of May, DOGE came out of a downward corner motif that started last November after the price reached $ 0.48. The break took place on May 10, marked by a strong bullish candle and a peak in trading volume. This is generally a sign that the downward trend is finished and that a new upward trend could start.
After the break, DOGE fell slightly to test the upper limit of the corner. If this level holds as a support, this would confirm the upward trend.
DOGE also left a side rating beach that started in March. The fact that the two breaks occurred almost at the same time makes the global movement even more convincing.
Momentum indicators support the upward trend. The MacD line is above the signal line, and both are in positive territory, indicating continuous force. The histogram remains in the green, although the bars become smaller, which could suggest a slowdown.
The RSI is currently at 61, indicating that there is still room for the price to climb. Its upward trend also strengthens positive perspectives.
Key levels of resistance and price objectives of analysts for Dogecoin
The next major resistance is $ 0.30. If Doge crosses this level, it could target $ 0.45 – a previous local summit before the last lower market. Some traders, such as Tardigrade traderexpect a short period of consolidation before a final thrust around $ 0.40.
Another analyst, Alts Kingthink that Doge takes momentum and could reach $ 0.48 in the short term if the current trend continues.
Looking towards the future, $ 0.40 is a short -term common goal among analysts. This level could serve as a psychological magnet for the price of dogecoin as the upward dynamics are built. Some analysts even target the $ 1 bar during the Haussier cycle. The strong buying pressure and the recent Doge performance, exceeding Ethereum and XRP, could both fuel the next large Dogecoin pulse.
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