- Crypto whales have accumulated 150 million DOGE while the price consolidates near a key support level, signaling potential bullish momentum despite recent declines.
- With $43 million worth of DOGE flowing out of exchanges and increased trading activity, analysts predict a possible breakout if the price surpasses $0.21.
Dogecoin (DOGE), the world’s most famous meme coin, is once again in the spotlight as major crypto investors, known as whales, accumulate large amounts of the token. Recent on-chain data reveals that 150 million DOGE has been scooped up in the last three days, sparking speculation about an upcoming rally.
Whale Activity Signals Strong Interest
Large-scale purchases of DOGE often indicate increased confidence from major investors. This recent accumulation occurred while the token was consolidating near a critical support level of $0.185. The whales’ buying spree suggests that they see potential for an upward price movement despite the current bearish sentiment in the market.
Price Trends and Market Sentiment
As of now, Dogecoin is trading at approximately $0.19, experiencing an 8% decline in the last 24 hours. However, trading volume has surged by 50%, which signals heightened participation from traders and an overall optimistic community sentiment. While price fluctuations continue, the increased activity suggests a possible reversal in the near future.
Key Technical Indicators to Watch
According to analysts, DOGE is currently trading within a tight range, with strong support at $0.185. If the meme coin manages to break past the $0.21 resistance level and close above it on the daily chart, it could see a 20% surge to reach $0.25 in the coming days. However, technical indicators like the Relative Strength Index (RSI), which is near 35, suggest weak momentum at the moment.
$43 Million Worth of DOGE Leaves Exchanges
Another key development is the significant outflow of DOGE from exchanges. Recent analytics show that since early February 2025, there has been a steady movement of Dogecoin out of trading platforms, with $43 million worth of tokens withdrawn in just the past 48 hours. Such outflows are often associated with accumulation by long-term holders, which can lead to reduced selling pressure and support future price gains.
Is a Dogecoin Rally Imminent?
When combining whale activity, technical analysis, and the ongoing exchange outflows, signs suggest that investors are preparing for a potential price increase. While short-term corrections may still occur, the current trends point to a bullish outlook for DOGE in the coming days. Traders and investors should keep a close eye on key resistance levels and market sentiment to make informed decisions about the next big Dogecoin move.
