Dogecoin is showing early signs of a relief rally. Transaction volume has surged sharply, signaling renewed participation across the network. According to Ali Charts, Dogecoin volume rose from $98.37 million to $510.98 million. The 420% increase occurred within a single week.
In addition to Dogecoin’s transaction volume growing, different technical indicators are starting to support the narrative of a relief rally. Analysts report seeing early-stage reversal signs on multiple time frames.
“Buy” Signal on the Weekly Timeframe
In addition to the transaction volume, analyst Ali Charts reported that Dogecoin had printed a TD Sequential “buy” signal on the weekly timeframe.
This signal indicates that selling pressure in the DOGE asset has been exhausted. If followed by sustained price movement, it is reasonable to expect a relief rally. However, confirmation is required.
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Rising Community Participation
According to Ali Charts, there was a significant spike in Dogecoin’s transaction volume during a 7-day period. A spike of this size usually occurs at either the early stages of accumulation or reversal in a trend.
It is also possible that this is simply a short-term speculative event. Data from Santiment shows fluctuation in daily active addresses since last year.
The recent increases indicate that the community is utilizing the platform more actively, despite uncertainty in the broader crypto market.
A Potential Trend Reversal
Also, another crypto analyst, TraderTardigrade, reported that Dogecoin broke out of a descending triangle. It has already retested the top of the triangle on the 3-day timeframe.
The descending triangle is a classic bearish pattern. When the price breaks above the upper line of the triangle, it is commonly a sign that the trend is reversing.
According to TraderTardigrade, if Dogecoin holds above the triangle, it will likely represent a reversal in the trend. When the DOGE price retests the level of a previous breakout and breaks out again, it is likely that the price will continue upwards.
Improving Momentum from Indicators
Dogecoin is currently trading around $0.093 on TradingView as of March 21st, 2026. The price remains below the 200-day EMA, which is a cautionary indicator for a longer-term trend.
Short-term EMAs are starting to flatline, which is an early indication of stabilization. If Dogecoin can reclaim the price levels of the short-term EMAs, it would be a strong indication of continued momentum.
Currently, the RSI is sitting close to neutral levels, indicating that buyers and sellers are equally involved in price action. If buyer interest continues to grow, prices may continue to move upwards.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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