DOGE forms a bullish flag pattern, signaling potential for explosive upside.
Positive funding rates and healthy leverage indicate sustainable bullish sentiment.
Whale accumulation reaches multi-month highs, showing long-term confidence.
Dogecoin (DOGE), the original and most popular meme coin, appears to be on the cusp of a significant rally, with analysts eyeing a potential 110% price surge in the coming months. A compelling mix of technical chart patterns, whale accumulation, and persistently bullish funding rates is driving optimism among both traders and long-term investors.
As of May 29, 2025, Dogecoin is trading around $0.2230, registering a substantial 75% increase from its April lows of approximately $0.13. The price movement over the past several weeks is forming a bullish flag pattern on the daily chart.
A classic continuation setup that typically follows a sharp upward movement. The pattern suggests that DOGE is consolidating in preparation for another leg higher.
The current sideways consolidation in a narrowing range reflects the flag itself. Should the price break above the upper boundary of this formation, the resulting move could be explosive, potentially pushing DOGE to its next resistance target at $0.4815, a level last reached in November 2023.
A successful breakout would represent a 110% gain from current levels.
Another strong technical indicator at play is the emergence of a “mini golden cross” when the 50-day EMA crosses above the 100-day EMA. This is typically seen as a confirmation of a longer-term bullish trend. Currently, DOGE is holding above all major moving averages, reinforcing the bullish outlook.
The RSI sits near 54.87, indicating neutral momentum. A bearish divergence can be identified when price makes higher highs while the RSI fails to do so, hinting at potential exhaustion in the rally.
A drop below the psychological support level of $0.20 would invalidate the bullish thesis and open the door to a retest of the $0.17 Point of Control, which is a historically strong demand zone.
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A key signal reinforcing the bullish sentiment is the open interest (OI)-weighted funding rate. According to data from CoinGlass, DOGE's funding rate has remained consistently positive since March 31, with occasional spikes aligning with price surges.
This ongoing optimism in the futures market suggests that traders expect the price to continue rising. Importantly, the funding rate has not spiked into dangerous territory, indicating healthy, sustained interest rather than euphoric over-leverage.
The chart shows DOGE’s funding rate correlates with bullish market phases, particularly since early April. The consistency of this trend adds weight to the possibility of further gains ahead.
Another bullish driver for DOGE is the increasing accumulation by institutional players and large holders, often referred to as whales.
According to blockchain analytics from Santiment, wallets holding between 100 million and 1 billion DOGE now collectively own over 26.46 billion DOGE, the highest level since December 2023. This is a notable increase from 23 billion DOGE in January 2025, signaling renewed confidence among major stakeholders.
Moreover, on-chain data reveals that since April 1, 2025, there have been more than $695 million in outflows from exchanges, indicating that DOGE is being transferred into self-custody. Such behavior is typically interpreted as a bullish sign, indicating long-term conviction rather than short-term speculation.
Also Read: Dogecoin Jumps Higher Amid Rising Whale Confidence Signals and Bullish Breakout Setup
To confirm the bullish continuation, investors should monitor:
Resistance at $0.25 - $0.27: A break and hold above this range would strengthen the case for a move to $0.4815.
Support at $0.20: If this level fails, a retracement to $0.17 is likely.
RSI trends: Divergences or overbought signals could provide early warnings of pullbacks.
Volume surge on breakout: A breakout from the flag with high volume will validate bullish momentum.
All signs point toward a potentially explosive move for Dogecoin. Technical patterns, such as the bullish flag and mini golden cross, suggest that momentum is building. The persistently positive funding rate reflects ongoing bullish sentiment in derivatives markets, while whale accumulation and significant exchange outflows indicate long-term confidence.
While caution is advised due to bearish RSI divergence and the possibility of a short-term retracement, the broader outlook remains optimistic. If DOGE breaks past $0.27 with conviction, a 110% rally toward $0.48 is on the cards.