- Dogecoin rebounds 5% in 24 hours with trading volume up 54%, showing renewed interest.
- Whales accumulated over 188 million DOGE, hinting at a potential bullish phase.
- Holding support at $0.18 could spark a breakout toward $0.29 or even higher if momentum continues.
Dogecoin (DOGE) is starting to show a bit of life again after a rocky stretch. The meme coin, once written off as quiet, has bounced nearly 5% in the past 24 hours. Weekly numbers still show a small 4% dip, but that short-term strength has definitely caught traders’ attention. At the moment, DOGE sits around $0.147, with trading activity jumping over 54% to $2.2 billion. Market cap’s up too—nearly 5% higher at $30.5 billion, hinting at growing confidence from both retail and whales.
Whales Are Back—And They’re Buying Big
Large holders seem to be loading up again, grabbing roughly 188 million DOGE in the past 24 hours. That’s not a small move—it’s often the kind of early accumulation that happens right before a breakout. Data shows big transactions spiking, which means whales are becoming active again, possibly preparing for a longer rally.
Historically, these kinds of accumulation waves tend to show up before strong upward moves. Institutional players or early adopters might be positioning quietly while the rest of the market hesitates. If the trend keeps building, DOGE could be gearing up for a sustained push higher, assuming the overall market doesn’t spoil the mood.
Key Support Holds as Bulls Target $0.29
Crypto analyst Ali pointed out that DOGE has bounced off the lower edge of its ascending channel, holding firm near the $0.18 support area. That same zone aligns with the 0.618 Fibonacci retracement around $0.21—basically a key technical line that bulls have defended well. The structure shows higher highs and higher lows since mid-2023, meaning the long-term uptrend is still intact.
If momentum keeps up, the next logical stop is around $0.29. A breakout above that could send DOGE toward $0.45, maybe even into the $0.82–$0.86 range if things really heat up. Those are big “if’s,” of course, but they line up perfectly with historical extension zones. On the flip side, dropping below $0.18 could ruin the bullish setup, with next supports at $0.164 and $0.128. Still, as long as that $0.18 line holds, the structure looks healthy.
Momentum Wavers as Traders Stay Cautious
The weekly chart’s starting to show signs of fatigue. The MACD line has slipped under the signal line, turning the histogram red again—basically a hint that positive momentum’s fading for now. That doesn’t scream panic, but it suggests sideways action or mild correction ahead.
Meanwhile, the RSI sits around 46.8, slightly below neutral. That means buyers are cautious, but the coin isn’t oversold either—so there’s room for a rebound once confidence returns. Overall, Dogecoin’s setup looks mixed: cautious optimism with potential for a bigger move if volume and sentiment keep building.
