Dogecoin Surges Amid Market Uncertainty
Dogecoin (DOGE) has shown remarkable resilience, rallying nearly 10% this week. Despite U.S. President Donald Trump’s tariff war and broader economic concerns, DOGE has climbed back above $0.2058.
Moast altcoins have struggled with Trump’s announcements, but Dogecoin continues to gain.On March 26, it hit a two-week high of $0.20585. Analysts predict DOGE could extend its gains by nearly 11%, testing resistance at $0.21465.
The upper boundary of the imbalance zone at $0.24040 is the next key resistance, nearly 24% above the current price. Two momentum indicators, the RSI and MACD, support a bullish outlook. The RSI is at 52, above neutral, and the MACD shows positive momentum.
On-chain data reveals a growing number of DOGE holders. If this trend continues, Dogecoin could stay relevant among traders.the network’s profit/loss metric indicates small-scale profit-taking, which is usually positive for price stability.
- Active address count has been steady since mid-March.
- Derivatives open interest is recovering from its March 12 low.
Derivatives data shows a long/short ratio over 1 on top exchanges like Binance and OKX, suggesting traders expect DOGE’s price to rise. Combining technical and derivatives analysis, DOGE could test $0.21465 next week.
DOGE wallets holding between 1 million and 10 million tokens have been accumulating rapidly. This supports demand and a bullish outlook.The Bitwise Dogecoin ETF filing with the SEC could legitimize DOGE for institutional investors.
Other catalysts include positive crypto regulation updates, the stablecoin bill’s passage in Congress, and demand from large wallet investors.While Bitcoin’s flash crashes have slightly affected DOGE, it has consistently recovered.
