• Dogecoin is showing strong bullish momentum, rebounding 15% and eyeing a potential 20% surge if it breaks the $0.178 resistance.
• Dogecoin’s on-chain activity is rising, with whale accumulation and active addresses doubling, signaling growing investor confidence.

As Bitcoin (BTC) gears up for a potential surge beyond $90,000, Dogecoin (DOGE) is showing signs of a strong comeback. The leading meme cryptocurrency, which runs on a proof-of-work (PoW) consensus mechanism, has rebounded over 15% since March 11, reaching approximately $0.1721. This bullish momentum has investors wondering: Can DOGE climb another 20% in the coming days?

Dogecoin Price Outlook: Bullish Breakout on the Horizon?

Dogecoin has historically maintained a high correlation with Bitcoin, meaning that BTC’s upward trajectory could fuel further gains for DOGE. Additionally, the crypto market is poised to benefit from the softening yields in the U.S. bond market, alongside the ongoing bullish rally in gold.

From a technical perspective, Dogecoin has been following a macro rising trend, characterized by higher highs and higher lows. After a period of decline, DOGE is currently retesting the lower boundary of a rising channel. In the daily timeframe, the price has been forming an ascending triangle, breaking out of a parallel falling trend. A sustained close above the key resistance level at $0.178 could trigger a 15-20% rally, pushing DOGE toward the upper boundary of its falling logarithmic trend.

However, if DOGE fails to hold above $0.16, a potential downside scenario could see prices retreating toward $0.14, where the next strong support lies.

On-Chain Activity & Whale Accumulation Boost Confidence

Beyond technical indicators, Dogecoin’s fundamentals remain strong. The ecosystem continues to expand, with institutional investors increasing their mining involvement and global merchants integrating DOGE as a payment option. Currently, the Dogecoin network boasts approximately 6.2 million on-chain holders.

On-chain data reveals a surge in whale activity, a strong bullish signal. Over the past week, Dogecoin holders with balances between 1 million and 10 million DOGE have accumulated an additional 110 million coins, bringing their total holdings to 10.44 billion DOGE. Meanwhile, active addresses on the network have doubled in recent weeks, surpassing 280,000 at the time of writing.

Can DOGE Hit $0.20 Soon?

With Bitcoin eyeing new all-time highs and Dogecoin showing strong accumulation patterns, a breakout above $0.178 could send DOGE soaring toward $0.20 or higher. However, investors should watch key support levels, as a breakdown below $0.16 could lead to short-term bearish pressure.

As the market trends upward, DOGE remains one of the most exciting assets to watch in 2025.