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Dogecoin (DOGE) price has rallied 18% over the past three days, and it is currently the best-performing crypto among the top 30 by market capitalization over the past week.

Data also shows DOGE producing its highest weekly returns of 2025, a feat not seen since the final week of 2024.

Dogecoin weekly chart. Source: Cointelegraph/TradingView

7% of DOGE supply is clustered around $0.20

According to the onchain data from Glassnode, DOGE’s unrealized price distribution (URPD) shows 7% of the DOGE supply is concentrated at $0.20.

URPD is a metric that reflects the price at which coins were last moved, and it allows investors to identify resistance and support zones based on token clusters.

Dogecoin URPD data by Glassnode. Source: X.com

With a significant concentration at $0.20, Glassnode implied that the price level could potentially act as a resistance level. Although, the analytics firm added,

“If $0.20 is breached, there’s little Dogecoin supply until $0.31 - the next major URPD cluster. This gap raises the probability of a sharp leg higher, as there's not much resistance in between. Watch for breakout momentum if volume picks up.”

A breakout push toward $0.31 highlights the potential for a substantial 55% surge from its $0.20 level, paving the way for a bullish market structure on the high time frame (HTF) chart.

After $0.20, DOGE’s next resistance level lies between $0.32-$0.41, where the 3 to 6-month HODL waves reside. These HODL waves represent where investors bought DOGE in January. This might also act as a sell ceiling as some traders might look to exit their positions at break even.

Related: Bitcoin price has 75% chance of hitting new highs in 2025 — Analyst

Dogecoin breaks through a difficult bearish trendline

On March 24, House of Doge announced the launch of “The Official Dogecoin Reserve” with an initial purchase of 10 million DOGE tokens. The current rally occurred at the back of this news, creating a positive sentiment in the Dogecoin community.

House of Doge, the newly formed corporate wing of the Dogecoin foundation, stated in a press release,

“With a strategic reserve, House of Doge is laying the foundation for a payments ecosystem that ensures liquidity, stability, and reliability.”

However, the foundation indicated that the purchased tokens have yet to be transferred to its holding account. House of Doge said they would provide the Reserve address on their website to uphold transparency once the transaction is complete.

In light of its price breakout, Trader Tardigrade noted that Dogecoin had breached a three-month descending trendline that formed over the course of 2025.

Dogecoin analysis by Trader Tardigrade. Source: X.com

This could potentially have a short-term bullish implication for DOGE price, as the token looks set for a relief rally over the next few days.

Related: Solana's ‘early stage bull market’ hints at 65% SOL price gains by April

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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