Dogecoin (DOGE) has experienced upside momentum over the last 7 days. The top memecoin by market cap broke out past a descending trend line resistance and pumped over 10% in the same period. This upside movement price movement has piqued investor interest with whales gearing up to push the price higher.
Additionally, a top crypto analyst has disclosed that a monthly close above $0.20 could spark another attempt for DOGE to breach its current all-time high (ATH). Will Dogecoin attain this level with just two more days to go before April comes to an end?
DOGE Consolidates After Descending Trendline Breakout
Following an impressive rally sparked by the recovery across the general crypto market, the price of Dogecoin faced a resistance barrier. As per the daily chart on TradingView, the memecoin is currently trading at $0.178 as of this writing. The current price level depicts a continuation of the consolidation between $0.175 and $0.185.
The ongoing consolidation seems to be a make-or-break moment for Dogecoin. A downward price movement for the coin could spark a plunge towards 0.164. This would put more pressure on the coin potentially sparking further downside movement as investors sell-off in fear of lower prices.
However, a break out of the current consolidation could signify a pump towards $0.20. According to Ali Martinez, achieving this threshold before the month ends is crucial as it would push the price of Dogecoin further upwards.
“If Dogecoin $DOGE can secure a monthly close above $0.20, it could pave the way for a rally toward its all-time high of $0.74. Such a breakout would signal strong bullish momentum and potentially attract increased investor interest,” Martinez remarked in a post on X.
While a pump of this manner may seem quite unlikely, Dogecoin whales are on the move!
Dogecoin Whale Participation is on the Rise
Amidst the current consolidation, large market participants are making strategic moves. On-chain analytics suggest that there is a rise of Dogecoin whale transactions. The surge signifies that DOGE whales are accumulating. This could result in a hike in the price of the memecoin moving forward.
The data by IntoTheBlock confirms that $1 to $10 million-worth transactions surged by 540.47% over the last few days. Additionally, the number of high-value transactions greater than $10 million has increased by 8060%. This spike demonstrates that both whales and institutions strongly support Dogecoin’s price value despite the consolidation.
As whales continue to accumulate, the market anticipates an incoming bullish rally for Dogecoin. Furthermore, these whales could be armed with insider knowledge hence they could be preparing to capitalize on the opportunity, as per speculations.
DOGE Forms a ‘Bullish Pennant’ Signifying Upside Movement
The dog-themed memecoin – DOGE, has also formed a bullish pennant according to analysis by crypto analyst Trader Tardigrade. This pattern formation is usually characterized by the formation of a small symmetrical triangle. This small triangle usually forms as the market consolidates and often leads to continuation of the upward price movement.
Dogecoin’s price performance since April 22, 2025, has thus formed a well- structured symmetrical bull pennant. As per Tardigrade, the pattern formation could see Dogecoin rally to $0.22. This level coincides with Ali Martinez’s analysis of continued upward price movement towards the 2021 all-time high. Investors must thus watch the price of DOGE moving forward for a bullish rally confirmation.
