TLDR
- DOGE has surged nearly 50% in the past month, reaching $0.225 after bottoming at $0.13 in early April
- Whales have accumulated over 1 billion DOGE (worth $220+ million) in the last month
- Technical analysts predict potential targets between $0.69 and $1.00 by summer’s end
- The $0.205 resistance level has flipped to support, strengthening the bullish case
- Active addresses and transaction volumes show increasing network activity, supporting upward momentum
Dogecoin has experienced a price recovery in recent weeks, surging almost 50% over the past month. After hitting a low of $0.13 in early April, the popular meme cryptocurrency has rebounded strongly and now trades around $0.225.
DOGE Price
The price action shows DOGE consolidated around $0.16 for about a month after its April bottom. Then on May 8, it began a sharp upward move alongside the broader crypto market.
This momentum carried DOGE to a peak of $0.26 on May 11, though it has since pulled back about 13.5% to current levels.
On-chain data reveals several bullish signals that could support further upside movement. Crypto analyst Ali Martinez highlighted three key metrics showing growing activity: active addresses, transaction volumes, and whale accumulation.
#Dogecoin $DOGE is seeing a rise in active addresses, transaction volume, and whale activity. All bullish signals that could support further upside! pic.twitter.com/pRHObYo60J
— Ali (@ali_charts) May 16, 2025
Whale Activity Surges
Perhaps the most telling metric is whale activity. Large market participants have accumulated over 1 billion DOGE in the past month alone.
At the current price of $0.225, this whale accumulation represents more than $220 million worth of Dogecoin.
This level of buying from large holders often precedes significant price movements. Whales typically accumulate during periods they believe represent good value before a potential upward move.
The increase in active addresses also indicates growing interest in the network. Higher transaction volumes further support this thesis of increasing adoption and use.
DOGE is currently attempting to break through what Martinez describes as “a major area of resistance.” If reclaimed, this could “spark a new bull run” for the meme coin.
Technical Breakout
From a technical perspective, DOGE has broken free from its multi-month downtrend. The cryptocurrency pushed through a key descending trendline that had suppressed its price action since February 2025.
One analyst noted that DOGE broke through the Ichimoku Cloud on the daily chart, signaling strong bullish momentum that could force bearish traders to reconsider their positions.
Several price targets have emerged from technical analysis. Fibonacci Extension targets range between $0.69068 (1.618 Fib) and $0.82324 (2.0 Fib).
Some analysts are even more optimistic, calling for a $1 price target by the end of summer. This would represent a 355% increase from current levels and would establish a new all-time high for DOGE.
The $0.205 resistance level has now flipped to become support, creating a floor that could prevent deep pullbacks if price weakness occurs.
Traders are closely watching key support zones. The area near $0.20 appears critical for maintaining bullish momentum. A break below could lead to further losses, with some analysts pointing to $0.194 as a potential target if support fails.
Another view suggests monitoring the $0.205 and $0.18 support zones. Failure to hold these levels could damage the current bullish narrative.
Analyst MMBTrader emphasized the importance of the $0.405 resistance level. A breakthrough here would make the market “extremely bullish,” potentially opening the path toward long-term targets of $0.755 and $1.00.
In the short term, crypto analyst Crypto Thies believes DOGE may enter a consolidation phase, possibly retesting the $0.20-$0.21 support region before continuing higher toward $0.30.
$DOGE 1D at $0.23 and expecting consolidation to likely retest $0.20 – $0.21 range.
Assuming support holds from there, continuation towards the $0.30 resistance would be probable. pic.twitter.com/Zeyi8tH5jj
— Crypto Thies (@kingthies) May 14, 2025
The price reached its recent high of $0.26 on May 11 before facing rejection. DOGE now trades around $0.225 as the market assesses whether this is a temporary pullback in a larger uptrend or the beginning of a deeper correction.
