- Whales spent more than $35M on DOGE in 24 hours, hinting at renewed confidence.
- Critical support at $0.2012 is holding strong; breaking the trendline could ignite a rally.
- Derivatives data shows steady growth, with balanced sentiment suggesting traders are waiting for the next big move.
Dogecoin seems to be waking up again, with whales quietly scooping up millions while the coin hangs onto its critical support levels. Analysts suggest this combo could set the stage for a short-term push higher, if DOGE manages to finally crack its downward trendline. At press time, DOGE trades at $0.2232 with a market cap of $33.99 billion and daily trading volume crossing $5.13 billion—up 1.34% in just 24 hours.
Whales Fueling DOGE’s Latest Momentum
According to well-known crypto analyst CEO, large holders poured over $35 million into DOGE in the last day alone. That kind of buying power usually signals confidence in the asset’s direction, and it hints that whales expect more upside ahead. Such heavy aggregation often acts like a springboard, giving price action the fuel it needs to break through stubborn resistance zones.
Holding the Line at Support
Another market watcher, known as Man of Bitcoin, pointed to $0.2012 as the critical level to watch. He stressed that DOGE defending this line is no small matter—it’s the bedrock of the current structure. If buyers manage to flip the descending trendline overhead, it could spark a fresh rally, potentially dragging DOGE toward higher ranges in quick succession. With both whale activity and technical support converging, traders see a recipe for a possible breakout in the days ahead.
Derivatives Market Backs the Story
Meanwhile, Dogecoin’s derivatives scene is showing steady strength. Futures volume climbed 14.13% to $5.19 billion, and open interest ticked up another 2.88% to $3.37 billion. The OI-weighted funding ratio sits at 0.0086%, which suggests a fairly balanced market—neither overly bullish nor swamped with shorts. This calm but firm positioning often signals that traders are bracing for a larger move, waiting for the right spark to kick things off.
