Dogecoin (Doge) The price rallyed 18% in the past three days, and it is currently the best acting crypto in the top 30 by market capitalization over the past week.
Data also shows the DOGE that produces the highest weekly return of 2025, a feat that has not been seen since the last week of 2024.
Dogecoin weekly chart. Source: Cointelegraph/TradingView
7% of Doge supply is clustered around $ 0.20
According to onchain data from Glassnode, Unexpected Doge Price distribution (URPD) Shut up 7% of Doge’s supply is concentrated at $ 0.20.
The URPD is a scale that reflects the price at which the coins are last moved, and it allows investors to identify resistance and support zones based on token clusters.
DOgecoin URPD data by glassnode. Source: x.com
At a significant concentration at $ 0.20, Glassnode indicates that the price level can act as a level of resistance. Although, the analytics firm added,
“If the $ 0.20 is broken, there is a little Dogecoin supply up to $ 0.31 – the next major URPD cluster. This space increases the likelihood of a sharp leg higher, as there is no less resistance between. Watch the breakout momentum if the volume is selective.”
A breakout push towards $ 0.31 features potential for a large 55% climbing from a level of $ 0.20, setting the way for a bullish market structure in the high time frame (HTF) chart.
After $ 0.20, the next level of dog resistance lies between $ 0.32- $ 0.41, where 3 to 6-month Hodl waves live. These hodl waves represent where the Doge investors bought in January. It can also act as a ceiling seller because some merchants may look to exit their positions at rest even.
Related: Bitcoin’s price has a 75% chance of hitting new highs in 2025 – analyst
Dogecoin destroys a hard bearish trendline
On March 24, the House of Doge announced the launch of the “Official Dogecoin Reserve” with the initial purchase of 10 million DOGE tokens. The current rally took place behind this news, creating a positive emotion in the Dogecoin community.
The House of Doge, the newly formed corporate wing of the Dogecoin Foundation, stated in a Press release,
“Through a strategic reserve, the House of Doge puts a foundation for a payment ecosystem that ensures liquidity, stability, and reliability.”
However, the foundation indicated That the purchased tokens have not yet been transferred to its account. The House of Doge said they would provide the reserve address on their website to promote transparency once the transaction was complete.
In connection with its price breakout, Trader Tardigrade noted that Dogecoin violated a three -month -long run -up for 2025.
Dogecoin assessment of trader tardigrade. Source: x.com
This may have a short -term bullish implication for the Doge’s price, as the look of the token is set for a rally for the next few days.
Related: Solana’s ‘Early Stage Bull Market’ to 65% SOL prices by April
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
