On March 1, 2025, Dogecoin witnessed a significant upward momentum, as indicated by the breakout of its four-hour Relative Strength Index (RSI) trendline. This trend was first reported by Trader Tardigrade on X (formerly known as Twitter) at 10:00 AM UTC. When the RSI broke the trendline, Dogecoin was trading at $0.085, which represented a 3.7% increase from the previous day’s closing price of $0.082.
During this period, trading volume surged impressively to 2.1 billion DOGE, marking a 15% increase over the average daily trading volume of 1.8 billion DOGE recorded over the prior week. CoinGecko reported this surge, highlighting increased investor interest and engagement.
The RSI breakthrough was coupled with heightened activity on the Dogecoin blockchain, as the number of active addresses climbed by 12%, from 446,000 to 500,000—a notable increase identified by CryptoQuant. Such signs pointed to the likelihood of Dogecoin experiencing additional price gains if the positive momentum continued.
Following the RSI breakout, the DOGE/BTC trading pair saw immediate gains, soaring by 2.5%. At 10:30 AM UTC, Dogecoin’s price stood at 0.0000015 BTC, as reported by Binance. Similarly, the DOGE/USDT trading pair mirrored these movements, reaching $0.086 at 11:00 AM UTC, which was 1.2% higher than the price at the time of the breakout.
Within the first hour post-breakout, trading volume across exchanges rose even more dramatically—by 20%—to 2.5 billion DOGE. This surge indicated rising market interest, which could lead to additional price fluctuations, as recorded by OKEx.
Onchain metrics suggested strong bullish sentiment as well, with the average transaction value increasing by 8% to $120 per transaction, indicating larger trades potentially contributed by significant investors, according to Glassnode.
From a technical analysis perspective, the March 1 RSI breakout was supported by other positive indicators. For example, the Moving Average Convergence Divergence (MACD) line crossed above the signal line at 10:15 AM UTC, reinforcing the bullish momentum, as reported by TradingView. Dogecoin’s 50-day moving average was recorded at $0.078, and its 200-day moving average stood at $0.075, both lower than the current price—suggesting strong bullish trends, according to Coinbase.
Remarkably, trading volume peaked at 2.3 billion DOGE at 10:45 AM UTC, indicating high market participation levels as noted by Kraken.
Further supporting the bullish trend, Dogecoin’s Bollinger Bands widened, with the upper band hitting $0.092 at 11:15 AM UTC. This uptick indicated increasing volatility and the potential for more price movements, as observed by Bitfinex.
While there were no direct AI news impacts on Dogecoin reported on March 1, 2025, broader market sentiment influenced by AI developments remained positive. TradeAI, for example, indicated overall cryptocurrency trading volume increased by 10% on the same day, hinting at indirect effects on Dogecoin’s trading activity.
The correlation between AI-driven trading volume and Dogecoin’s price movements was noteworthy, as the uptick on TradeAI coincided with the RSI breakthrough and subsequent price increases of Dogecoin. This suggests AI-driven trading platforms may play a role in magnifying market movements, including those involving Dogecoin.
Monitoring this correlation could provide traders with additional insights about potential trading opportunities at the intersection of AI and cryptocurrency. "The RSI breakout signals potential for Dogecoin's continued price increase if the trend persists," stated Trader Tardigrade.