After weeks of sideways consolidation, Dogecoin price jumps 5% in a surprising late-session rally, driven by a spike in whale activity and renewed retail interest. The memecoin, which had been trading in a tight range around $0.18, surged past $0.208, a level not seen since early June, sparking fresh speculation about a possible breakout.
According to a Coindesk report, the move was largely fueled by significant on-chain transfers linked to whale wallets. These large holders appear to be reaccumulating DOGE after a multi-week cooldown, signaling a potential shift in sentiment.
A Sudden Shift in Momentum
The rally comes as part of a broader market bounce, but Dogecoin’s performance outpaced most large-cap altcoins in the past 24 hours. The timing of the move, late in the session and backed by above-average volume, points to strategic buying rather than retail FOMO.
On-chain data shows a 14% increase in large DOGE transactions (over $100,000) over the past 48 hours. This uptick aligns with the recent breakout on the daily chart, where DOGE pushed past short-term resistance around $0.20.
Chart Analysis: Key Levels to Watch
Looking at the attached DOGE/USD daily chart, several key technical insights emerge:
- Current Price: $0.20803
- Support Zone: $0.194–$0.197
- Resistance Zone: $0.215–$0.220
- Volume: Increasing steadily over past 7 sessions, reaching 170M DOGE
The breakout from the consolidation channel that began in mid-June is now confirmed by both price and volume. If momentum holds, DOGE could target the $0.23–$0.25 area, where it previously found heavy rejection back in May. Beyond that, $0.28 and $0.30 remain medium-term targets for bulls.
Source: Trading View
RSI indicators on the daily timeframe are moving closer to the overbought zone but still allow for some upward continuation before a cool-off is expected.
Whale Activity Returns
The return of whales is the most bullish signal in this move. After months of low volatility and declining transaction sizes, the sudden surge in large DOGE transfers suggests that smart money might be repositioning ahead of a bigger move. This is typically a precursor to a broader retail wave.
WhaleStats also reported that DOGE re-entered the top 5 most purchased tokens among BNB whales over the weekend, a signal that institutional interest is not dead.
Is Dogecoin Becoming a Safe Bet Again?
Despite its origins as a meme coin, Dogecoin continues to prove its resilience, bouncing back during each market cycle thanks to its passionate community and unexpected moments of strength. The current move could be the start of a new bullish phase, especially if Bitcoin continues to hold above key support zones.
However, volatility remains high, and short-term corrections are likely if the broader market stalls.
Final Thoughts: What This Dogecoin Rally Means for Traders
The fact that Dogecoin price jumps while whale activity returns suggests that DOGE may no longer be just a meme. As volumes rise and resistance levels are challenged, traders should keep an eye on $0.23 and $0.25 in the coming sessions.
If the trend continues, we may witness a stronger DOGE wave leading into Q3 2025, especially as altcoins regain momentum across the board.
