Numerous cryptocurrency investors witnessed Dogecoin’s significant 6% price surge on March 13, 2025, propelled by an impressive $1.5 billion trading volume that suggests substantial market interest.
Technical analysis reveals that DOGE is currently forming a 5-wave Descending Broadening Wedge pattern on the 4-hour chart, a formation that typically precedes a bullish breakout, particularly when accompanied by the confirmed bullish divergence observed on the Relative Strength Index (RSI). The cryptocurrency’s market capitalization increased to $12.7 billion, representing a 3% rise from the previous day’s figures.
DOGE’s 5-wave Descending Broadening Wedge suggests imminent bullish breakout, supported by RSI divergence as market cap climbs to $12.7 billion.
The surge coincides with reports of substantial whale activity in Dogecoin markets, with data indicating accumulation of approximately 1.7 billion DOGE over a recent weekend period. Whale transactions, characterized by large-volume trades from single entities, often catalyze significant price movements in cryptocurrency markets due to their liquidity impact. This recent surge comes despite the concerning data showing only 66 whale transactions recorded in the previous period according to analyst Ali Martinez.
This accumulation pattern at lower price levels suggests strategic positioning by large-scale investors, potentially anticipating upward momentum in the asset’s valuation trajectory. Some whales may be employing stop-loss orders during the current market conditions to protect their substantial investments while still participating in the potential upside.
On-chain metrics further corroborate this bullish sentiment, with active addresses increasing by 7%, reflecting heightened market participation and network activity. The Moving Average Convergence Divergence (MACD) indicator has displayed a bullish crossover, reinforcing the technical case for continued upward movement.
Volatility, as measured by the Average True Range (ATR), has risen by 20%, indicating increased market dynamism that typically accompanies significant price action. This aligns with Chandler’s projection that Dogecoin will experience strong bullish moves after crossing the 0.236 Fibonacci time zone.
Price projections for Dogecoin vary considerably among analysts, with some forecasting potential increases of up to 206.19% in March alone, potentially pushing the price toward $0.71. More conservative estimates suggest a range between $0.464 and $0.804, though these predictions should be approached with appropriate caution given the inherent volatility of cryptocurrency markets.
The recent price surge represents a continuation of Dogecoin’s impressive 15.6% gain over the past week, suggesting a broader recovery trend that may extend if current market conditions persist.
