- Dogecoin price surges 14%, with Elon Musk’s Ghibli Anime post fueling a potential 10x rally.
- Whale activity and key resistance levels signal continued bullish momentum for Dogecoin.
Dogecoin’s price is on a strong upward trajectory as the meme coin continues to generate buzz. With Elon Musk’s recent social media post featuring a Ghibli Anime parody, Dogecoin’s price has caught the attention of investors.
Analysts predict the cryptocurrency is poised for a major rally, potentially surging by as much as 10x. The SuperTrend indicator points to key resistance levels, and with increased whale activity, Dogecoin’s bullish outlook seems set to continue.
Elon Musk’s Ghibli Anime Parody Sparks Interest in Dogecoin
Elon Musk’s recent social media post has further fueled Dogecoin’s upward momentum. Musk shared a Ghibli Anime-inspired parody of the famous “Lion King” scene, with a Shiba Inu, the Dogecoin mascot, being held up instead of a lion cub.
Theme of the day pic.twitter.com/2ioG0StAxL
— Elon Musk (@elonmusk) March 26, 2025
The post has resonated with both the cryptocurrency community and anime enthusiasts, reinforcing Musk’s ongoing involvement with Dogecoin. Given the growing popularity of Ghibli Animes, Musk’s influence has provided the perfect catalyst for further price appreciation.
The excitement around Elon Musk’s playful involvement with Dogecoin comes at a time when the meme coin is showing strong market strength. Its price has surged over 14% in the past week, reflecting growing investor interest.
Crypto analyst Ali Martinez has pointed out a potential bullish phase for Dogecoin based on the SuperTrend indicator. If DOGE breaks through the critical resistance level of $0.21, it could trigger a significant upward trend, signaling renewed momentum.
Critical Price Levels: $0.20 and Beyond
Onchain data from Glassnode highlights $0.20 as a critical resistance level for Dogecoin. According to Glassnode, around 7% of Dogecoin’s total supply is concentrated around this price point, which could create a substantial resistance barrier.
However, once this level is broken, the supply of Dogecoin at higher price levels is sparse, particularly until the next major resistance zone at $0.31. This scarcity of available supply could result in a sharp rise in Dogecoin’s price, with potential gains of up to 55% from the $0.20 mark.
Additionally, analysts are watching the $0.22 price point as another pivotal level for Dogecoin. Chart technician Rekt Capital points out that if Dogecoin closes above $0.22 every week, it could signal a shift toward stronger resistance levels, including $0.28 and $0.338.
If $DOGE is able to reclaim and/or Weekly Close above $0.22 (green, Pre-Halving highs)…
Then the price action below $0.22 of the past few weeks will have been a downside deviation as part of a very volatile retest of March highs#DOGE #Crypto #Dogecoin pic.twitter.com/vDnfEME6rq
— Rekt Capital (@rektcapital) March 26, 2025
The overall price action suggests that Dogecoin could break out of a multi-month declining wedge pattern, potentially mirroring the price movement seen in early 2024, which saw a major rally of over 365%. As a result, analysts have set targets as high as $1.00 for the cryptocurrency in the coming months.
Increased Whale Activity Signals Bullish Sentiment
Another key factor driving Dogecoin’s bullish outlook is the surge in whale activity. In the past two weeks, major investors have accumulated 200 million DOGE tokens, signaling strong institutional interest in the meme coin.
Market analyst Ali Martinez highlighted these whale movements, emphasizing that the buying behavior occurred during a period of market volatility. This accumulation has boosted confidence among investors, with many now predicting further price appreciation.
The significant increase in Dogecoin’s trading volume and futures open interest further indicates growing optimism in the market. Trading volumes have surged by more than 32%, with Dogecoin’s market cap approaching $30 billion.
In a strategic move to boost adoption, the House of Doge has acquired 10 million DOGE, worth $1.83 million, to enhance Dogecoin’s role in global payments. As discussed earlier, the reserve will function as a liquidity pool, improving transaction efficiency and increasing Dogecoin’s use in everyday commerce.
Meanwhile, global trading platform Interactive Brokers has added Dogecoin to its list of tradable cryptocurrencies. As reported by ETHNews, this expansion opens up Dogecoin to a broader range of investors, potentially driving up its trading volume and supporting continued price growth.
