The recent surge in DOGE accumulation has triggered renewed speculation around Dogecoin’s next big move. In the past 24 hours, on-chain data revealed that whales scooped up a staggering 310 million DOGE, valued at over $65 million. This sharp accumulation wave coincides with a technical signal that has historically predicted major reversals: the TD Sequential indicator flashing a bullish sign.
But can this confluence of on-chain accumulation and technical optimism really reverse Dogecoin’s recent downtrend? Or is the move arriving just a little too late?
DOGE Accumulation Spikes as Whales Return to the Scene
According to data shared by analyst Ali Martinez, wallets holding between 10 million and 100 million DOGE tokens have significantly increased their positions. This suggests strong confidence from high-net-worth investors who may be anticipating a rebound.
The timing of this DOGE accumulation aligns with a growing narrative that meme coins could see another breakout cycle, especially as Bitcoin consolidates and altcoins search for direction. Historically, DOGE has acted as a high-beta asset, reacting quickly to broader crypto sentiment shifts.
A Bullish Signal – But With a Caveat
Beyond the whale buying, the TD Sequential, a popular momentum indicator, has just flashed a “9” green candle on Dogecoin’s daily chart. This pattern has often marked the end of a correction and the beginning of a short-term rally.
However, there’s a catch. While the signal is technically bullish, it has emerged after a sharp decline from DOGE’s recent high near $0.29. The price is currently hovering around $0.205, reflecting a drawdown of over 30% in just three weeks. That leaves traders questioning whether this is a late signal or the start of a genuine turnaround.
DOGE Price Outlook: Key Levels to Watch
Technically, Dogecoin is approaching a critical support zone near $0.20. If this level holds, it could offer the base for a short-term rally toward the $0.24–$0.26 resistance region. That said, a breakdown below $0.195 would invalidate the bullish setup and possibly lead to a retest of the $0.18 range.
Source: Trading View
Here are the key short-term levels:
- Support: $0.20 – $0.195
- Resistance: $0.24 – $0.26
- Breakout Target (if confirmed): $0.30
Volume analysis also shows a slight uptick in buying interest, but not yet at levels seen during major DOGE rallies. For now, momentum appears neutral, with price direction dependent on whether the broader crypto market resumes its bullish trend.
Is DOGE Still a Viable Trade?
For traders, the key question is whether DOGE accumulation is a front-runner of a breakout or simply a false signal. Historically, whale activity has preceded Dogecoin’s biggest moves—both up and down. With the meme coin narrative losing steam in Q2, this whale resurgence could revive interest, especially among retail traders watching for repeat patterns.
On the flip side, DOGE still faces challenges from regulatory uncertainty and stiff competition from newer meme coins like FLOKI and PEPE, which have siphoned off attention and capital in recent months.
Final Thoughts: DOGE Accumulation Could Spark a Short-Term Rebound
The confluence of whale buying and bullish technical indicators certainly provides reason for optimism. However, traders should approach with caution. While DOGE accumulation is a positive sign, confirmation via price action and volume will be key.
A clean break above $0.24 with strong volume could validate the bullish thesis. Until then, risk-managed positioning is essential.
