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As Wednesday drew to a close, Dogecoin witnessed a pullback due to growing bearish market sentiment, causing the dog-themed meme coin to enter a consolidation phase. DOGE’s price may be consolidating, but a crypto analyst claims that the development is a promising one that could trigger an upward trend to higher levels.

DOGE Prepares For Possible $0.4 Run

Dogecoin’s renewed upward trend seems to have lost steam as it revisits the $0.22 mark after the market turned slightly bearish. Currently, the meme coin is hovering within a narrow price range as investors and traders anticipate its next major move.

In a recent analysis on the X (formerly Twitter) platform, Trader Tardigrade, a market expert and investor, outlined that DOGE has entered a consolidation phase following its pullback. However, DOGE in a consolidation phase could just be the foundation of an impending strong rally.

Although this period of sideways action can seem inconspicuous, Trader Tardigrade’s analysis flags the phase as a strategic pause prior to a big breakout. Furthermore, it implies that DOGE is gathering strength within the narrow price range even as the market momentum gradually wanes.

Looking at his chart, the meme coin has reached a crucial level and is experiencing some resistance around the key zone. Its recent rejection from the zone led to a brief period of consolidation within the $0.21 and $0.25 price range.

According to the expert, DOGE’s short-term consolidation over a few days is “super healthy for future price movements” as it hovers near critical resistance levels. Nonetheless, Trader Tardigrade expects a breakout in the upcoming days, suggesting that the sideways movement would be short and beneficial. Once the Dogecoin breaks above the current resistance, the analyst is confident it will spur the next major move to the $0.4 mark.

A Significant Rally Ahead For Dogecoin

Key technical signals on the 1-day chart are also pointing to a potential upward trend for Dogecoin. Trader Tardigrade highlighted in another post that DOGE’s “Relative Strength Index (RSI) MA is ready to climb to the top.” 

The expert further mentions that this uptrend segment may cause the asset to soar sharply in the short term. His forecast is based on past trends, where the RSI MA turned bullish and sparked a significant rally in November last year.

With growing momentum aligning with an uptick in network activity, DOGE is likely to continue its newfound upsurge. Ali Martinez, an on-chain and technical expert, reported a huge spike in active wallet addresses amid price growth.

Data shows that Dogecoin active wallet addresses have risen to 127,570, indicating heightened adoption and interest in the network. The rise in address activity may be a precursor to a wider recovery as more wallets swing into action, suggesting that the meme coin is preparing for its next significant move.

Featured image from Pixabay, chart from Tradingview.com

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Plus: Will the US actually buy 1M BTC?

#airdrop-section#

GM. It’s a fruity free-for-all in the market today, but don’t worry – we’re here to slice, dice, and serve up the juiciest bits with zero effort on your part.

Sen. Cynthia Lummis reintroduces the BITCOIN Act.

News drops: EU is worried about Trump, crypto scammers are using new tactics + more

Market flavor today

I meannnn… technically, the chart isn’t all red… Ugh, who am I kidding? It’s still brutal

And things don’t look any better behind the scenes – CryptoQuant says whales aren’t buying Bitcoin like they used to, and US Bitcoin ETFs had $740M in outflows this week alone.

To top it off, BTC demand fell by 103K coins, the fastest drop we’ve seen since mid-2024. Sure, a 22% dip isn’t that crazy for a bull market, but this one feels… heavier.

Glassnode analysts say Bitcoin’s in its post-all-time-high cooldown phase – basically, people who bought the top start bailing. And when BTC crashed to $78K, panic selling kicked in hard.

If this were December or January, the market would’ve seen this as the perfect buy the dip opportunity. But now, everyone’s hesitating.

And with no new buyers stepping in, the market could stay stuck in this correction phase for a while.

The hesitation comes down to tight liquidity, the Bybit hack, and economic uncertainty – especially Trump’s tariff drama.

Which, speaking of that last one… what if this is all part of the plan?

Bitcoin commentator Anthony Pompliano has this theory: Trump and Secretary of the Treasury Scott Bessent are intentionally tanking asset prices to pressure Fed Chair Jerome Powell into cutting interest rates.

Here’s the logic:

• Make investors panic → they dump risk assets like stocks and crypto;

• That money moves into safer assets like US government bonds;

• Higher bond demand = higher bond prices = lower bond yields;

• If bond yields fall enough, the Fed might decide to cut interest rates to match market conditions.

Why would they do this? Simple: the US government has about $7T in debt that needs refinancing soon.

With interest rates high, paying off and reissuing that debt would be crazy expensive. But if the Fed cuts rates, the government can borrow at a cheaper rate and save a ton of money.

And just to keep things extra interesting, February’s Consumer Price Index (CPI) report came in lower than expected:

• Monthly CPI: +0.2% (vs. 0.3% expected);

• Year-over-year CPI: +2.8% (vs. 2.9% expected);

• Monthly core CPI (excludes food & energy): +0.2% (vs. 0.3% expected);

• Year-over-year Core CPI: +3.1% (vs. 3.2% expected).

Translation: inflation is cooling down. That should be good news – the Fed doesn’t have to keep rates high.

Normally, a report like this would pump crypto – but this time, the market barely reacted. Investors are just too worried about everything else goin’ on.

So yeah… they say God gives his toughest battles to his strongest soldiers. But at this point, please, let someone else take a turn – the crypto community has been through enough already…

Memecoin harvest

Even your normie friend might ask if “it’s too late to buy” after seeing these charts:

Data as of 05:35 AM EST.

Check out these memecoins and plenty more here.

Quick reminder: last week, Trump signed an executive order to establish a strategic Bitcoin reserve – which, by all accounts, is HISTORIC… and the market’s reaction was whatever tf we witnessed in the Market Flavor section of this newsletter.

Why? Long story short: the government didn’t really promise that they’d buy more BTC = no guaranteed pump.

(For the full breakdown, read this.)

But Senator Cynthia Lummis doesn’t wanna let that slide. She reintroduced the BITCOIN Act:

If this thing makes it through, here’s what it means:

• Self-custody rights are protected;

• The US Treasury is getting its own Bitcoin vaults;

• The government commits to buying 1 million BTC – about 5% of the total supply – turning Bitcoin into the digital equivalent of America’s gold reserve;

• This all gets funded by reallocating existing government money.

Lummis isn’t alone either – she’s got some new Republican co-signers, including Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno.

Obviously, there’s still a long journey ahead – the bill has to survive Congress first. But it’s wild to think that something like that is even on the table.

News drops

Meteora co-founder Ben Chow’s X account called out DefiTuna’s founders for profiting from memecoins like MELANIA and MATES. Meteora’s official account claimed his account got hacked… and now both of these posts are gone because – plot twist – both accounts got hacked.

The SEC delayed its decision for XRP, Solana, Litecoin, and Dogecoin ETFs. But no need to worry – Bloomberg ETF analyst James Seyffart says it’s just business as usual.

A solo Bitcoin miner with a tiny 480 GH/s rig beat industrial giants with 230,000+ GH/s and won the full $263K reward. Absolute underdog flex.

Scammers got creative in 2024. California’s financial watchdog received 2,668 complaints and found seven new crypto and AI scam tactics.

EU finance officials worry that Trump’s support for crypto will disrupt Europe’s financial stability. The ESM says the digital euro is no longer just an option – it’s essential for maintaining control.

Juicy memes