Dogecoin Soars 10% in 24 Hours (3/26), Is DOGE Ready for a 100% Rally?

Jakarta, Pintu News – While the general crypto market is going through a consolidation phase, Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- is showing resistance to the trend by recording a 10% gain in the last 24 hours.

The price of DOGE rose to $0.2045, driven by a 24% jump in daily trading volume to reach $2 billion – a strong indication of the dominating bullish sentiment. This price increase came after an announcement from the Dogecoin Foundation that it is building an official DOGE reserve.

Dogecoin price rises 10.26% in 24 hours

At the time of writing (3/26/25), the price of Dogecoin (DOGE) recorded a surge of 10.26% in 24 hours, trading at $0.2045 or the equivalent of IDR 3,408. DOGE had its lowest level at IDR 3,069 and its highest level at IDR 3,421.

Currently, Dogecoin’s market cap stands at around $30.34 billion, with trading volume also rising 24% to $2 billion within 24 hours.

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Dogecoin Foundation to Build DOGE Reserve

According to Coinspeaker, today’s surge in Dogecoin price coincides with the launch of the ” Official Dogecoin Reserve“, an initiative by the Dogecoin Foundation to improve the stability of the meme coin and attract institutional investors.

As part of the plan to build up DOGE reserves, the Dogecoin Foundation will purchase 10 million DOGE, which is currently worth around $1.8 million. This move is being taken to maintain Dogecoin’s long-term price stability and strengthen its credibility.

As of March 25, crypto betting platform Polymarket shows a 72% probability that a Dogecoin ETF will be launched before the end of this year – a drastic jump from just 27% in early January.

Interest from institutional investors in meme coins has been increasing recently, with Dogecoin being the most prominent among them. In addition, optimism towards the approval of a Dogecoin ETF in 2025 is also growing.

Is Dogecoin Price Ready for a 100% Rally?

The Dogecoin price showed relatively stable strength, staying above the crucial support level of $0.16 and successfully bouncing off that point.

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ZAYK Charts technical analysts have identified a falling wedge pattern on Dogecoin’s daily chart, which is often considered a signal of a potential bullish breakout.

A falling wedge pattern is usually an indicator of an upward reversal, indicating a possible price increase if the asset manages to break the upper resistance line. If this breakout occurs, the price of DOGE is expected to rally up to 100%, as shown in the technical analysis chart.

Crypto market analysts predict that DOGE is showing significant strength and has the potential to experience a parabolic rally to $1. Dogecoin’ s on-chain data also supports this upside potential – including open interest (OI) and funding rate data that continues to strengthen.

As of March 25, Dogecoin’s open interest in the futures market jumped to $1.80 billion, up from a four-month low of $1.33 billion recorded on March 11.

In addition, DOGE’s weekly funding rate returned to positive territory, rising to 0.157% after previously dipping into negative territory on March 21.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinspeaker. Dogecoin Price Jumps 5% as Foundation Buys 10 Million DOGE. Accessed on March 26, 2025