DOGE Whales Hoard 2B Coins: Is a Mega Rally Brewing? 🐶💰

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DOGE whales add 2B in a week as a golden cross pattern fuels breakout hopes and speculation of a major price rally.

 

Large Dogecoin holders have, with a flourish worthy of a Russian novel, accumulated 2 billion DOGE over the past week, worth nearly $500 million at current market prices. This buying spree, reminiscent of a grand ball in Moscow, is occurring alongside a bullish technical formation known as the golden cross, prompting market speculation about a possible strong rally. 🎉

The price of DOGE is near $0.24, following a 17% increase over the past seven days, a rise as dramatic as a sudden snowstorm in Siberia.

Whale Accumulation Sparks DOGE Market Interest

Data shows wallets holding between 100 million and 1 billion DOGE have been actively increasing their positions in recent days, like characters in a Tolstoy novel preparing for a grand battle.

Analyst Ali Martinez reported that whales purchased around 230 million DOGE in a single 24-hour period. This accumulation was linked to an 8% price increase within that time frame, a movement as swift as a troika racing through the night.

2 billion Dogecoin scooped up by whales in the last 7 days.

– Ali (@ali_charts)

In total, 2 billion DOGE have been acquired by large holders in the last week, adding a hefty $5.5 billion to the asset’s market capitalization, which now stands near $36.38 billion. Many traders are monitoring this activity closely, as such whale movements often precede sharp price movements, much like a storm cloud portends a thunderous downpour.

Golden Cross Pattern Signals Bullish Shift

A golden cross formed earlier this week on Dogecoin’s daily chart, where the 50-day exponential moving average moved above the 200-day EMA. Market observers, like seasoned meteorologists, often see this pattern as a potential shift toward upward momentum after a long consolidation, a sign that winter may be giving way to spring.

The last occurrence of this pattern for DOGE was in November 2024, and it is notable that the event preceded a 276% rally to higher price levels, a transformation as remarkable as a caterpillar becoming a butterfly.

Furthermore, Altcoin Sherpa, a crypto analyst, noted that DOGE has traded under the $0.27 region all year but may now be in a favorable setup if Bitcoin breaks above its previous highs.

DOGE has spent the entire year under this $0.27 region. I think the environment is finally pretty good for it to have a run (soon). Once btc breaks ATH strongly, DOGE should do well.

– Altcoin Sherpa (@AltcoinSherpa)

DOGE Technical Indicators and Market Levels

DOGE’s relative strength index (RSI) is showing moderately bullish momentum without entering overbought conditions, suggesting there may still be room for price growth before any cooling period. The price is also trending toward the upper band of the Bollinger Bands, often indicating potential for a breakout if buying continues, much like a river swelling before it bursts its banks.

The moving average convergence divergence (MACD) indicator has moved into positive territory, with the MACD line crossing above the signal line. However, the histogram remains small, indicating that the trend is still developing, like a seedling just beginning to sprout.

Traders are watching the $0.26 resistance closely, as a break above could lead to a move toward $0.30 and possibly $0.32, a leap as significant as a jump from the ground to the treetops.

Key Support and Resistance Levels to Watch

While market sentiment has turned positive, traders remain cautious about downside risks. The $0.22 support level is seen as an important zone to maintain the current outlook. A drop below this level could open the way to a retest of the $0.20 area, where buyers would need to reassert control, much like a general rallying his troops before a final charge.

Concurrently, the derivatives market for DOGE has seen over $10 billion in trading volume in the past 24 hours, according to Coinglass. Funding rates indicate that long positions are dominant, with traders willing to pay more to maintain their bets on higher prices, a commitment as strong as a warrior’s oath.

This combination of whale buying, technical patterns, and derivatives market activity is fueling speculation about whether DOGE will replicate its previous golden cross rally, a question as intriguing as the plot of a classic Russian novel.

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2025-08-15 03:45