Dogecoin News: Dogecoin Price Eyes 55% Rally as Key Support Holds, Momentum Builds

Dogecoin (DOGE) has surged 18% in just three days, outperforming the top 30 cryptocurrencies and sparking renewed interest from traders and analysts alike. With DOGE currently trading at $0.1965, one key trend suggests the meme coin could be poised for a 55% rally—if the critical $0.20 support level holds.Onchain Metrics Point to a Breakout ZoneAccording to Glassnode data, 7% of the total DOGE supply is clustered at the $0.20 level. This URPD (Unrealized Price Distribution) metric helps identify areas of potential support or resistance based on where coins were last moved.“If $0.20 is breached, there’s little Dogecoin supply until $0.31,” said Glassnode, adding that the lack of resistance in this range significantly raises the chance for a sharp price surge.DOGE’s price action suggests that a breakout toward $0.31 could pave the way for a larger bullish structure to form on the high time frame (HTF) charts.  DOGE Breaks Key Trendline, Sentiment Turns BullishOn March 24, DOGE broke out of a three-month descending trendline, a move flagged by crypto analyst Trader Tardigrade as a bullish signal.“The token looks set for a relief rally over the next few days,” said Tardigrade.Adding to bullish sentiment, the House of Doge—the Dogecoin Foundation’s corporate wing—announced the launch of The Official Dogecoin Reserve, kicking off with a 10 million DOGE purchase aimed at building a more stable payments ecosystem.“With a strategic reserve, House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability,” the Foundation stated. They also pledged to provide full transparency once the reserve transaction is completed.Resistance and Sell Zones AheadBeyond the $0.31 target, DOGE faces potential resistance in the $0.32–$0.41 zone, where 3 to 6-month HODL waves sit. These levels coincide with investor entry points from January 2025, which could lead to profit-taking or breakeven selling pressure.If DOGE can maintain support at $0.20 and trading volume continues to rise, analysts believe a 55% rally toward $0.31 is within reach. The breakout of a long-standing downtrend and the new institutional initiative from the House of Doge are fueling optimism that the meme coin may be gearing up for a strong short-term rally, according to Cointelegraph.