- Dogecoin’s recent pullback saw large whale accumulation and strong token outflows from exchanges, signaling growing confidence among investors.
- Technical and historical patterns suggest a potential rally of 30-35%, with targets possibly reaching new all-time highs above $1.40.
Dogecoin (DOGE) price has experienced a notable pullback, but strong on-chain signals and technical indicators suggest this dip could set the stage for a significant upward move. Despite a recent 13.6% weekly correction, large investors known as “whales” have increased their holdings aggressively, signaling confidence in DOGE’s near-term potential.
Whale Accumulation and Exchange Outflows Signal Strength
In the last 24 hours, whale wallets accumulated approximately 130 million DOGE tokens amid the price dip. This kind of large-scale buying typically indicates that these investors expect the market to rebound strongly. Complementing this, exchange flows have turned deeply negative, meaning more DOGE is leaving exchanges than entering. Holders are moving their tokens to cold storage, suggesting fewer sellers are ready to dump their coins and more are preparing to hold long term.
This combination of whale accumulation and decreasing exchange supply forms a bullish foundation, historically associated with local market bottoms and the onset of new upward trends.
Whales bought 310 million Dogecoin $DOGE in the last 24 hours! pic.twitter.com/3ZHNfubt65
— Ali (@ali_charts) July 31, 2025
Derivatives Market Points to Breakout Potential
Dogecoin’s derivatives market currently has about $4 billion in open interest, showing robust trader engagement. Funding rates remain flat at 0.006%, indicating a balanced market where neither buyers nor sellers dominate. This equilibrium prevents forced liquidations that could cause sudden price drops.
The high open interest combined with stable funding costs suggests DOGE’s next move could be a spot-driven rally rather than speculative derivatives action. Technical analysis highlights key support at $0.21 and resistance near $0.25 and $0.27. A clear breakout above $0.26 could pave the way for a 35% rally, targeting $0.30.
Historical Patterns Support New All-Time Highs
Analysts note that Dogecoin’s current chart structure strongly resembles previous phases that preceded major price surges. Historically, DOGE has gone through consolidation wedges before explosive rallies—for instance, the surge from $0.018 in 2016-2017 and the 2021 rally to $0.739.
Based on similarities to previous bull runs, the likeliness of $DOGE pushing over +226% from here to reach and break above the All Time High at $0.73905 is EXTREMELY HIGH!
History also points to Dogecoin climbing above the $1.42 and $2.11 levels after, which is increase of more… pic.twitter.com/knJOk6VGfQ
— JAVON⚡️MARKS (@JavonTM1) July 30, 2025
Based on these historical fractals, there’s potential for DOGE to not only retake its all-time high of $0.739 but possibly push towards targets of $1.42 or even $2.11, representing gains of over 500% from current prices.
Additionally, a double-bottom pattern near $0.22 hints at a bullish reversal after the recent pullback, with short-term upside targets around $0.24 to $0.28.
Dogecoin’s recent pullback appears healthy and may be the foundation for a strong rally. Whale buying, steady exchange outflows, and balanced derivatives markets create multiple bullish catalysts. If technical resistance levels break decisively, DOGE could be on the path to major new highs, potentially exceeding past records. Investors watching closely should note this rare confluence of bullish signals and prepare for possible significant upside in the weeks ahead.
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