Dogecoin (DOGE) is having a solid start to 2026, rallying 9% over the past 24 hours as technical signals and on-chain activity suggest the meme coin might be gearing up for more upside.

Here's where things stand across the meme coin landscape:

What the Charts Are Saying

Crypto analyst Kevin pointed out that Dogecoin just printed a weekly reversal candle inside a key demand zone, which could be an early bullish signal. The catch? It needs confirmation at the weekly close, and both DOGE and Bitcoin need to reclaim their 4-hour 200-day SMA/EMA levels. If that happens, we might be looking at the bottom of the recent pullback and a potential countertrend bounce.

The broader picture still hinges on Bitcoin. A move back into the $88,000–$91,000 range would be the key confirmation traders are watching for sustained altcoin strength.

Meanwhile, crypto chart analyst Ali Martinez noted that Dogecoin has confirmed a bullish breakout from its price channel and is targeting a move toward $0.08, signaling improving upside momentum.

The Cryptomist added that DOGE has broken its daily downtrend, hinting at a potential trend shift. A successful retest of the breakout level would be critical, with initial upside targets at $0.15 and potentially $0.21 if the momentum continues.

The Numbers Behind the Move

On-chain data backs up the price action. Coinglass data shows Dogecoin open interest rose to $1.71 billion on January 2, up from $1.55 billion the day before.

Bitinfocharts data shows wallet addresses holding 0–0.1 DOGE increased to 3 million from 2.99 million, while addresses holding 0.1–1 DOGE climbed to 799,305 from 797,783. That's accumulation happening across smaller wallet sizes, which can sometimes signal retail interest picking up.