- Dogecoin is testing a key bullish flag pattern resistance level.
- A 34% spike in active addresses and whale accumulation hints at a potential rally to $0.30.
Dogecoin [DOGE] is showing familiar signs of a breakout after yet another period of consolidation.
DOGE has been following a familiar pattern—accumulation within a bullish flag, followed by a sharp rally. This time appears no different, as the memecoin is now testing the upper boundary of its current flag formation.
Recent price action has shown consolidation, with bulls holding firm at key support zones. As DOGE edges closer to flag resistance, the setup suggests a potential breakout.
If history repeats itself, DOGE could soon surge past the $0.30 level.
Source: TradingView
DOGE whale activity sparks bullish signals
Adding further strength to this bullish setup is a noticeable increase in whale activity. AMBCrypto’s deep on-chain analysis of CryptoQuant data reveals a steady accumulation of large orders at the current price level.
These strategic long positions suggest that major holders are positioning themselves for an upward move.
Whale accumulation is often a strong indicator of price action, especially when paired with technical signals like the current bullish flag. Their ability to influence market trends appears tilted toward optimism at this stage.
Source: CryptoQuant
Active addresses rise by over 30% in 24 hours
Adding to the bullish projection is a spectacular surge in Dogecoin network activity. At press time, DOGE’s Active Addresses were up by over 34% in 24 hours alone. The surge is a sign of growing participation and new interest from the broader market.
A rise in active addresses typically precedes price movement, since it shows growing demand and activity. Paired with whale accumulation and a bullish chart structure, the potential for a significant breakout gets more compelling.
Rally to $0.30? Here’s what to watch next
While there is no certainty in crypto, the confluence of technical and on-chain signals makes a very strong case for a move higher.
If DOGE can manage to flip its flag resistance into support, momentum would more than likely drive prices well above $0.30 price level.