Key Insights:
- Dogecoin price must break $0.29 to unlock a possible 61% rally toward $0.42.
- Whale wallets added 200 million DOGE, while mid-size wallets hit a four-year high.
- Dogecoin ETF launch could provide the final spark for DOGE’s next move.
Dogecoin price traded near $0.26 after a sharp move in recent weeks. Analysts and a key chart pattern say one level is now critical for the next big move.
If DOGE price breaks $0.29, it could unlock a strong rally.
From $0.26 to $0.42, the meme coin could gain about 61%. Beyond this, past cycle charts show that Dogecoin often makes fast and large jumps once resistance levels are cleared.
However, clearing that key resistance might still require some effort,
Dogecoin Price: Resistance at $0.29 Blocks the Next Move
The $0.29 line has stopped Dogecoin price rallies several times this year. Analyst Ali Martinez said the coin must close above this line to continue higher.
Notably, traders often call this a resistance line because it acts like a barrier where sellers step in.
If DOGE price breaks above $0.29, the next targets on the chart sit at $0.32 and $0.36. The Fibonacci chart also shows a possible move up to $0.42. From $0.26, that would mean a rally of around 61%.
Another factor is the Rex Osprey DOGE ETF. The launch was expected last week but was delayed. Analysts now say that the launch could come between Wednesday and Thursday this week.
If the Dogecoin ETF comes into effect, it could bring new buyers who want a simpler way to invest. That could give Dogecoin price the push it needs to break past $0.29 and hold above it.
Meanwhile, it is worth noting that DOGE price even corrected a bit on the Dogecoin ETF delay grounds. It indicates that the likelihood of the sell-the-news narrative isn’t as strong.
Apart from ETFs, DOGE price seems to be getting some help from the large holders.
Large holders, often called whales, have added around 200 million DOGE in recent weeks. At the same time, mid-size wallets are at a four-year high. Both signs suggest that buyers with bigger holdings are still confident.
When whales add coins, it often gives support because it shows they expect the price to rise later. Combined with wallet growth, it builds a stronger base for Dogecoin price.
DOGE Dip Levels Could Attract Buyers
The Money Flow Index (MFI), which checks if money is flowing in or out, has dipped slightly. This shows some buyers are waiting for lower entry points.
The Dogecoin price chart shows that two dip levels matter most: $0.25 and $0.21. If the price falls there, buyers may step in again.
These levels give traders areas to watch if the market cools before another push higher. However, that means the crypto market isn’t discounting a deeper DOGE price correction.
Momentum Indicators Support Dogecoin Price Bullish Case
Analyst chart signals also support a possible breakout. The Bollinger Band Width is expanding.
This happens when price bands stretch wider, showing more volatility. When the price stays near the top of the band, it often signals that momentum is strong.
Cycle charts from past years also show that Dogecoin price tends to move in “fast and strong” waves.
In earlier cycles, DOGE price made gains of 1,500% to 2,500% in under 120 days once resistance was cleared. If history repeats, the current setup could be an early stage of a bigger run.
Dogecoin price now sits at a turning point. The $0.29 level is the gate to a possible 61% rally toward $0.42.
With Dogecoin ETF launch likely, whales adding coins, and strong past patterns, the case for upside is clear. But dip levels at $0.25 and $0.21 will decide if buyers step in again before the next move.