Dogecoin Breaks Bearish Trend as Momentum Shifts in Favor of Meme Coin

Dogecoin (DOGE) has finally broken its months-long bearish trend, with a significant increase in March. According to data from Cryptorank, the meme coin is up by 3.04% and is on track to close the month in the green.

This marks a departure from the past five months, during which Dogecoin closed in the red. Despite having a monthly average of 76.9% in January, the coin failed to maintain its momentum, closing the first month of 2026 down by 11.3%. The downward trend continued into February and March, with bearish levels of 9.62% and 2.89%, respectively.

However, with Bitcoin signaling a recovery, Dogecoin has followed suit, climbing by over 3% as the meme coin outperformed BTC on the crypto market. As of this writing, DOGE is changing hands at $.09728, representing a 3.39% increase in the last 24 hours.

The price chart of the asset shows a high-short ratio of 3.29 to 2.47, indicating a bias toward long positions. This suggests that traders are anticipating price moves to higher levels, which could catalyze a spike if these positive sentiments linger.