NAIROBI (CoinChapter.com) — Dogecoin (DOGE) price held steady above the $0.15 mark this week despite sharp volatility triggered by large-scale whale activity. Analysts now point to several bullish signals indicating that the meme coin may be on the verge of a prolonged recovery phase, possibly lasting three months.
Crypto trader Trader Tardigrade said Dogecoin might be entering a 93-day bullish cycle, citing historical patterns that previously followed 159-day downtrends. “I’m thrilled to see a strong breakout from this triangle bottom,” he posted on X, referring to the price’s recent stabilization above $0.1549.
Dogecoin Falling Wedge and Divergence Point to Reversal
Technical indicators show that DOGE remains in a falling wedge—a pattern that often marks the end of a bearish phase. According to a post from Crypto School, the price has managed to hold support at $0.15 despite aggressive selling.
“This is a high-time frame setup where confirmation is key,” the analyst wrote. “Waiting for the reclaim to reduce risk and maximise positioning.”
BitGuru noted that Dogecoin stabilized above $0.1549 after recovering from a steep drop, suggesting that bulls are regaining control. A break above $0.1666 would confirm a short-term reversal, with $0.18028 as the next resistance level. If DOGE clears that level, bulls could gain momentum for a broader rally.
Whales Dump 570M DOGE but Bulls Step In
Despite bullish formations on the chart, whale activity remains a headwind. On-chain analyst Ali revealed that whales unloaded over 570 million DOGE in the past seven days. The dump raised concerns over short-term selling pressure but did not break key support levels.
Retail traders have responded by accumulating at lower levels, supported by rising bullish divergence on the Relative Strength Index (RSI). Javon Marks flagged a “huge Regular Bullish Divergence,” calling it a potential signal that bears are losing control.
“This could be pointing to a massive bullish reversal,” Marks said, predicting a possible 150% rally toward the $0.40 level.
$1 Price Target Resurfaces Among Traders
Analyst Steph Is Crypto revived an earlier forecast of DOGE hitting $1 in 2025. The analyst claimed in a recent post that the meme coin is “poised for a bullish reversal” now that it has broken a key support threshold. A prior prediction even hinted at a $2 long-term price target.
“$DOGE will teleport to $1.00,” Steph wrote, highlighting the market’s renewed interest in meme coins as macro conditions improve.
While such forecasts require broader confirmation, Tardigrade’s chart analysis backs the case for an extended bull run. He added that the 4-hour RSI is nearing a bullish crossover, with upward momentum likely to follow if DOGE holds current levels.
Institutional Use Case Grows, Sentiment Builds
DOGE has gained wider institutional interest in recent months. Companies like Tesla, AMC Theatres, and Newegg have adopted Dogecoin for payments, citing its fast processing time and low fees. Asset manager 21Shares credited this growing adoption to DOGE’s suitability for small, everyday transactions.
Dogecoin’s price has found a foothold above $0.15, resisting sell pressure despite large whale outflows. Technical setups suggest a possible bullish reversal is underway. If confirmed, a 93-day uptrend could push DOGE toward $0.40—and possibly revisit the $1 narrative. However, the meme coin must reclaim $0.18 first. Until then, price action remains a wait-and-watch scenario for bulls.
