Dogecoin Analysis on May 28, 2025: Will the Bullish Rally Continue?

Dogecoin analysis on May 28, 2025: Price at $0.223, with potential to hit $0.35.

On May 28, 2025, Dogecoin (DOGE) traded at around $0.223, showing signs of a short-term bullish rally. Its daily trading volume reached approximately $1.2 billion, reflecting significant investor interest in this memecoin. However, the market remains influenced by factors such as whale activity and regulatory speculations. Recent reports indicate increased whale activity on the Dogecoin network. A transfer of 200 million DOGE from a major exchange to an unknown wallet on May 26 suggests accumulation by large players, often interpreted as a sign of confidence in future price growth. Additionally, news of 21Shares filing for a Dogecoin ETF has sparked speculation about its potential price impact. From a technical perspective, Dogecoin is testing key support at $0.212. Analysts suggest that holding this level could lead to a push toward the $0.26 resistance. Breaking this resistance may bring Dogecoin close to $0.35. However, a break below $0.212 could result in a decline to $0.19. Daily charts show the formation of a falling wedge pattern, which, if broken to the upside, could generate strong momentum. A surge in on-chain transaction volume, with roughly 1.2 billion DOGE on May 27, reflects active network usage. This increase may be linked to whale activity or ETF preparations. However, a decline in active addresses since the December 2024 peak raises concerns about the sustainability of this trend. On the other hand, regulatory uncertainties, particularly in the U.S., remain a challenge. Recent statements from officials suggest that Dogecoin ETF approval may face hurdles, though the broader crypto market sentiment is positive. Additionally, reduced support from prominent figures could negatively impact market sentiment. Overall, Dogecoin is positioned for a bullish outlook due to whale activity and ETF speculations, but regulatory risks and market volatility call for caution. Investors should proceed with proper risk management and closely monitor market developments.