- Dogecoin whales have accumulated millions of DOGE as the price holds near $0.070.
- Bullish futures data and improving technical indicators suggest DOGE could rebound if it breaks above $0.071.
Dogecoin price is holding near $0.070 as whales increase their holdings during the recent decline. The buying comes as DOGE tests key support levels and futures data points to improving trader sentiment.
Large holders have added hundreds of millions of DOGE while the price remains close to its three-year low. At the same time, the long-to-short ratio and funding rates have turned more bullish.
Dogecoin Whales Accumulate During Price Drop
Whale activity has increased as Dogecoin price weakened. Data from Santiment shows that addresses holding between 10 million and 100 million DOGE added about 180 million coins since Saturday.
Smaller holders moved in the opposite direction. Wallets holding between 100,000 and 1 million DOGE reduced their holdings by around 10 million coins.
The difference suggests that larger holders are using the price decline to build their positions. This could provide support if buying pressure continues.
Another group of whale addresses reportedly accumulated 680 million DOGE worth about $48 million. The purchases came as traders looked ahead to a possible Federal Reserve rate cut.
Lower interest rates can support riskier assets by improving market liquidity and investor appetite.
DOGE Futures Data Turns More Bullish
Futures market data also shows signs of improving sentiment around DOGE.
According to CoinGlass data, Dogecoin’s long-to-short ratio climbed to 1.27. This is the highest level recorded in more than 30 days. A ratio above 1 means more traders are holding long positions than short positions. The latest reading therefore suggests that more traders expect DOGE to rise.
Funding rates have also moved higher. Dogecoin’s perpetual futures funding rate turned positive on July 24 and reached 0.0096% by Tuesday.
Positive funding rates mean long traders are paying short traders. This usually reflects stronger demand for bullish positions.
Dogecoin Price Faces Key Resistance
Despite the improving market data, DOGE still faces technical hurdles.
Dogecoin price remains below its 50-day EMA at $0.074 and its 100-day EMA at $0.081. These levels could limit any short-term recovery. The $0.074 level is the first major resistance to watch. A move above it could open the door to $0.076 and then $0.081.
On the downside, $0.070 remains an important support level. A break below it could expose DOGE to another test of $0.067, which marks the recent yearly low.
DOGE has also reached deeply oversold levels after its extended decline. Ash Crypto noted that DOGE has fallen 90% from its all-time high and recently touched a three-year low of $0.067. The analyst also pointed to a monthly RSI reading that is more oversold than during the 2022 market bottom.
$DOGE is now at its most oversold levels ever.
– Down 90% from its ATH.
– It has hit a 3-year low at $0.067.
– Monthly RSI is now more oversold than during the 2022 market bottom.Could this be a bottom signal for DOGE? pic.twitter.com/6L3ejbRvU7
— Ash Crypto (@AshCrypto) August 4, 2026
Technical indicators are now showing some signs of improvement. The daily RSI has formed a bullish divergence as DOGE made a lower low while the RSI made a higher low.
The Awesome Oscillator is also forming higher lows. Together, these signals suggest that selling pressure may be weakening.
DOGE Price Outlook
Dogecoin price needs to reclaim $0.071 to strengthen the short-term recovery case. A decisive close above this level could encourage buyers to target the $0.074 resistance.
However, DOGE remains vulnerable while it trades below the key moving averages. A break below $0.070 could increase selling pressure and push the price toward $0.067.
For now, whale accumulation and improving futures data offer positive signs. DOGE’s next move will likely depend on whether buyers can defend support and push the price above $0.071.
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