- Dogecoin is showing strong bullish signals, including a flag pattern, positive funding rates, and increasing whale accumulation.
- These factors suggest DOGE could surge by up to 110% if key resistance levels are broken.
1. Bullish Flag Formation Signals Potential Breakout
Dogecoin (DOGE), the largest meme coin in the crypto world, is making waves again. Currently trading at around $0.2280—up 75% from its April lows—analysts believe the meme coin is setting up for a major breakout.
The daily chart paints a compelling picture: Dogecoin is forming a bullish flag, a classic continuation pattern that typically precedes significant upside moves. This formation follows a sharp rally and is now in a consolidation phase—exactly the kind of setup bulls love. Even more promising is the imminent mini golden cross, with the 50-day EMA poised to flip above the 100-day EMA—another strong technical indicator of upward momentum.
Should DOGE break out from this flag, the next critical resistance is $0.4815—the November 2023 high. That’s a potential 110% surge from current levels. However, a dip below $0.20 would invalidate this setup.
2. Funding Rate Stays Positive, Indicating Bullish Sentiment
A key driver of Dogecoin’s recent momentum is its positive funding rate, which has remained steady since March 31. In the perpetual futures market, a positive rate means long traders are paying short sellers, indicating that the majority of the market expects prices to rise.
Data from CoinGlass shows this rate continues to climb, reinforcing bullish expectations across derivatives traders. In simple terms, traders are betting on higher prices—and paying a premium to do so.
3. Whale Accumulation Points to Growing Confidence
Big money is backing Dogecoin. According to blockchain data firm Santiment, large addresses holding between 100 million and 1 billion DOGE have increased their holdings to over 26.46 billion tokens—the highest since December 2023.
This accumulation trend is coupled with $695 million in exchange outflows since April 1, showing investors are moving DOGE into self-custody, likely for long-term holding. This is typically a strong sign of market confidence and reduced short-term sell pressure.
With a bullish chart setup, positive market sentiment, and whale backing, Dogecoin could be gearing up for a 110% surge. The stars may be aligning for DOGE to bark its way back to the top.
