World Crypto Global
Dogecoin Whales Buy 100 Million DOGE In 24 Hours Demand Signals Growing Confidence
Dogecoin is currently trading in a tight range, consolidating above the $0.16 support level and struggling to break above the $0.19$0.20 resistance zone. This consolidation phase comes as the broader crypto market shows signs of strength and renewed momentum. Bulls are watching closely, hoping for a breakout that could mark the beginning of a recovery rally. Related Reading: Whales Sell 262,000 Ethereum Amid Recent Price Surge Smart Exit Or Profit-Taking? Recent on-chain data from Santiment adds fuel to the bullish narrative. Over the past week, Dogecoin whales have accumulated approximately 100 million DOGE, a move that signals rising confidence among large holders. Historically, such buying activity from major players has often preceded upward price movements, especially when it coincides with broader market recovery. As Bitcoin and other large-cap cryptocurrencies continue to test key levels, DOGEs consolidation pattern and whale accumulation will be key indicators for its next move. The coming days could prove pivotal for the memecoins short-term trajectory. Whale Activity Signals Possible Breakout As Dogecoin Tests Resistance Dogecoin is currently trading around $0.17$0.18, hovering near critical resistance while the broader crypto market shows signs of renewed momentum. Bulls are attempting to reclaim higher levels, especially the $0.20 zone, which has consistently acted as a strong barrier over the past few weeks. A successful break above this level could trigger a recovery rally, but until then, price action remains uncertain. Analysts are split on what comes next for DOGE. Some argue that failure to break out above $0.20coupled with increasing lower highscould signal a continuation of the broader downtrend, potentially pushing the memecoin back toward the $0.15 zone. On the other hand, with Bitcoin holding strong above $90K and major altcoins beginning to rebound, others believe Dogecoin could follow suit. Adding to the optimism, top analyst Ali Martinez shared a chart on X revealing that whales have accumulated 100 million DOGE over the past week. This surge in whale activity typically precedes price rallies and supports the case for a potential breakout. As accumulation continues and market sentiment improves, DOGE could be preparing for a strong move. For now, all eyes are on the $0.20 resistance. A clean break above it could validate the bullish outlook, while rejection might extend the current consolidation. Related Reading: Solana Monthly Candle Reclaims Key Levels Is $240 The Next Target? DOGE Price Action Hinges On Breaking Price Range Dogecoin (DOGE) is currently trading at $0.176, continuing to consolidate in a tight range as bulls attempt to gain momentum. Despite holding above the $0.16 support, DOGE has struggled to make a higher high, and price action remains capped by local resistance. To confirm a breakout and shift toward a recovery rally, DOGE must reclaim the $0.22 level a key resistance zone that aligns with the 200-day exponential moving average (EMA). Reclaiming this level would signal strength and could trigger an upward move toward $0.25 and beyond, especially if overall market conditions remain favorable. However, the lack of follow-through and volume at current levels raises concern. If bulls fail to defend $0.16, the downside risk grows significantly. A breakdown below this support could open the door to a deeper correction, potentially driving DOGE down into the $0.13$0.10 region, where historical demand has previously stepped in. Related Reading: Chainlink Flashes Daily Buy Signal Breakout Next? For now, DOGE remains range-bound with indecision dominating the short-term outlook. The next major move will depend on whether bulls can generate enough demand to break above the 200-day EMA or whether sellers regain control below the $0.16 threshold. Featured image from Dall-E, chart from TradingView
