Dogecoin DOGE/USD Is Up Almost 5% on Thursday and Bullish Technical Signals Could Extend the Rally

Dogecoin DOGE/USD is up almost 5% on Thursday and bullish technical signals could extend the rally.

Dogecoin (CRYPTO: DOGE) prices rose almost 5% on Thursday as bullish technical signals and a bulk purchase by whales could extend the rally.

What Happened: Trader Kevin noted in a post on X, formerly Twitter, that DOGE is holding key macro support levels, including the 0.382 Fibonacci retracement and a major long-term downtrend line—both seen as strong risk-reward zones.

Moreover, the monthly supertrend has yet to go vertical, and RSI is at levels last seen when DOGE was trading around $0.11, suggesting ample room for upside.

Kevin believes that as monetary policy eases and Bitcoin (BTC) dominance peaks—expected sometime this summer—Dogecoin could lead an altcoin rally.

Crypto Bullet identified a classic accumulation cylinder pattern forming on the DOGE chart—a setup that historically precedes strong upward breakouts once accumulation is complete.

While the exact catalyst remains unclear, the technical structure is pointing to a potentially explosive move ahead.

This view aligns with broader market expectations that a peak in Bitcoin dominance will shift momentum toward altcoins like DOGE.

Statistics: Crypto chart analyst Ali Martinez noted whales purchased 100 million DOGE in the past seven days, often a precursor to major moves.

According to Coinglass data, Dogecoin experienced $2.48 million in liquidations, including $2.09 million in shorts, indicating some traders were caught off guard by recent price action.

Still, a 3.7% increase in open interest signals confidence returning to the market.

Community News: Adding to the optimism, Bloomberg ETF analyst Eric Balchunas shared updated odds for spot crypto ETF approvals.

Dogecoin's spot ETF approval odds now stand at 80%, up from 75% in February. The SEC's final deadline for applicants—Grayscale, Bitwise, and 21Shares—is Oct. 17, 2025.

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