DOGE is consolidating near $0.2235, with whale accumulation and bullish analyst forecasts hinting at a potential breakout to the $0.40 level.
Dogecoin DOGE $0.16 24h volatility: 2.7% Market cap: $24.14 B Vol. 24h: $2.92 B is currently undergoing a period of consolidation after a 9% weekly surge. At the time of writing, the largest meme coin is trading near $0.2235, down by 2% in the past 24 hours.
However, analysts on X remain optimistic as key on-chain metrics flash bullish signals. According to data, DOGE is witnessing a surge in network activity with an uptick in active addresses, transaction volume, and whale activity.
#Dogecoin $DOGE is seeing a rise in active addresses, transaction volume, and whale activity. All bullish signals that could support further upside! pic.twitter.com/pRHObYo60J
— Ali (@ali_charts) May 16, 2025
Notably, large investors have accumulated over 1 billion DOGE tokens, worth over $223 million, in the past 30 days. This accumulation has helped push the token’s market cap to around $33.37 billion, up by $11 billion in the same period.
Whales have bought over 1 billion #Dogecoin $DOGE in the past month! pic.twitter.com/VVzwO7yLnM
— Ali (@ali_charts) May 16, 2025
DOGE Price Outlook
Crypto analyst Ali Martinez noted that the $0.25–$0.26 zone is a major resistance band for DOGE. Interestingly, the meme coin has tested this level five times since December 2024. Martinez believes a breakout above this range could trigger a strong bullish rally.
Meanwhile, crypto trader Trader Tardigrade stated that the current consolidation could last a few more days. He also echoed bullish sentiment in the mid-term, predicting a resistance breach and breakout to the $0.40 mark.
#Dogecoin is on way to break the resistance 🚀
Consolidation is expected to stay for several days.
A final breakout will be seen and $Doge will reach $0.4 as the next target 🔥 https://t.co/ue3PXfjzFn pic.twitter.com/pMKmfkgD7q— Trader Tardigrade (@TATrader_Alan) May 16, 2025
On the 4-hour DOGE price chart, the RSI is sitting near 47, suggesting neutral momentum. The downward gradient suggests that consolidation may continue in the short term. If DOGE drops further, traders should look for support around $0.217 and $0.20.
DOGE price chart with RSI and Bollinger Bands | Source: TradingView
Meanwhile, Bollinger Bands show price compression as DOGE trades below the middle band (20-day SMA), suggesting reduced volatility. However, a break above the upper band near $0.242 could confirm a bullish move.
The Balance of Power (BoP) indicator currently stands at -0.34, reflecting mild bearish dominance. BoP must recover above zero to support bulls.
DOGE price chart with Balance of Power | Source: TradingView
Note: this is a sponsored message from our partners
Mind of Pepe Gains Momentum Amid Meme Market Surge
The broader meme coin market has seen a 50% surge in its total market cap in the past month as DOGE eyes a fresh bull rally. Amid this, Mind of Pepe (MIND) is quickly capturing attention through its ongoing presale.
The project brings a fresh purpose to the meme coin world, which are usually criticised for their lack of use case and speculative nature. Mind of Pepe features a dynamic AI agent, which allows access to dependable market intelligence and analytical tools.
MIND Token and Presale Details
The platform’s native ERC-20 token, MIND, acts as a gateway to the platform. Mind of Pepe’s team is offering these tokens at a discounted price via a presale. Token holders will receive early notifications about AI-powered token releases and the ability to participate in project’s governance decisions.
Interestingly, MIND staking is already available, currently offering an annual percentage yield (APY) of 256%. The team has already raised $9.3 million in MIND presale.
Presale specifics:
- Token price: $0.0037515
- Funds secured: $9.3 million
- Accepted currencies: ETH, USDT
- Symbol: MIND
- Blockchain: Ethereum
- Community and staking incentives: 15% of the total token supply is allocated for community-focused activities and staking rewards.
The presale window will close in 15 days, after which the token’s price will be increased by the development team. Amid the increasing demand for AI-driven tools within the cryptocurrency space, Mind of Pepe appears to be a promising project for early investors.
next