Will Dogecoin Price Hold Strong Above $0.15?

Highlights: 

• Dogecoin price shows a consolidation pattern signaling a potential breakout ahead.
• The majority of Binance traders are long on Dogecoin positions.
• Whale activity suggests an upcoming price surge for Dogecoin.

Dogecoin (DOGE) price, a popular meme-based coin, has recently surged past the $0.15 mark. This upward movement is supported by a short-term ascending trendline. However, despite the bullish momentum, signs suggest the trend may be losing strength.

Over the past week, Dogecoin has gained approximately 10%, showing some positive price action. Yet, analysts remain cautious as the momentum appears to be waning. Market observers are watching closely for any changes in direction.

Crypto Analyst Predicts Bullish Momentum for Dogecoin Price

The price of Dogecoin currently exists inside an extended symmetrical triangle structure. The technical trend shows Dogecoin entering a stabilization period due to equalizing upward and downward market forces. The continued existence of Dogecoin in its current symmetrical triangle pattern produces greater momentum accumulation before the pattern breaks into a large price movement.

The ongoing spatial pattern consolidation creates a rising chance of upward price movement, according to crypto examination experts. Many traders consider the symmetrical triangle as an indication that the market is about to experience accelerated price movements. The current market trend of Dogecoin positions it for a substantial price surge through a breakthrough that should create an anticipated DOGE price elevation, according to analysts.

#Dogecoin is forming a prolonged Symmetrical Triangle
The longer the consolidation within the triangle, the stronger the momentum builds, leading to a higher $DOGE pump pic.twitter.com/AB4jtOLmEV

— Trader Tardigrade (@TATrader_Alan) April 16, 2025

Majority of Binance Traders Are Long on Dogecoin

The analysis from Crypto analyst Ali reveals that Binance traders currently hold 72.13% long positions regarding Dogecoin. A recent analysis showed an evaluation of 2.59 between long-to-short trader positions. Market traders believe DOGE will continue its current upward trend because it maintains positions that reflect bullish predictions.

The trading positions show strong anticipation of Dogecoin price growth because traders hold significantly more long than short positions. The excessive selection of long positions by traders exhibits positive indicators for DOGE’s market trajectory.

72.13% of traders on Binance with open #Dogecoin $DOGE positions are currently long! pic.twitter.com/ejIyI8lUoJ

— Ali (@ali_charts) April 15, 2025

The whale accumulation of Dogecoin reached more than 800 million Dogecoin within the previous two days according to Ali. Market analysts view the upward price movement potential positively because of recent large-scale transactions.

Market participants now show greater interest in Dogecoin because substantial whale movement proves the cryptocurrency will gain support from investors.

Whales bought more than 800 million #Dogecoin $DOGE in the last 48 hours! pic.twitter.com/swQV3RYevT

— Ali (@ali_charts) April 15, 2025

Is DOGE Price Set for a Bullish Breakout?

As of the reporting time, the DOGE price stands at $0.155, showing a minor decline of 0.03% over the last four hours. The price remains within a tight range, facing resistance near $0.1600 and showing support around $0.1500.

The 4-hour technical indicates a neutral market stance with moderate volatility. The MACD (Moving Average Convergence Divergence) indicator shows a bearish trend. The MACD line has recently crossed below the signal line, suggesting weak bearish momentum. The RSI (Relative Strength Index) is currently at 42, indicating a neutral market condition without any significant overbought or oversold signals.

If the Dogecoin price breaks above $0.15, a move toward $0.18 or $0.20 is possible. However, if the support at $0.15 is breached, further declines toward $0.14 or $0.13 could occur.