• Dogecoin gained 1.34% in 24 hours, trading at $0.2232, with strong whale accumulation of $ 35 million.
• Analysts highlight $0.2012 support level as critical for DOGE’s next potential bullish breakout.
• DOGE derivatives exhibit steady growth, with trading volume increasing by 14.13% and open interest rising by 2.88%.

Dogecoin is showing renewed strength, as whales accumulate millions, keeping key support levels intact. Analysts say the price could go up if DOGE breaks its current trend, showing more market interest and possible short-term gains.

At the time of writing, DOGE is trading at $0.2232 with a 24-hour trading volume of $5.13 billion and a market capitalization of $33.99 billion. Over the last 24 hours, DOGE has gained 1.34%, indicating growing investor interest.

Crypto Whales Drive DOGE Momentum

A prominent crypto analyst, CEO, noted that whales spent over $35 million on DOGE in just 24 hours. Purchases of this size indicate confidence in further Dogecoin gains and suggest that investors are positioned for potential upward momentum.

Dogecoin Support Could Trigger Rally

Crypto analyst Man of Bitcoin stated that Dogecoin is holding a major support level at $0.2012. According to his analysis, this support level is crucial for Dogecoin’s future price movement.

He continued to explain that if DOGE successfully breaks the downward trend line, which has capped its price so far, it would signal the start of a new bullish wave that could push the price even higher.

The intersection of key support levels and significant whale aggregation is a positive signal for DOGE in the short term. Investors are closely monitoring market movements over the coming days, as a breakout above key resistance levels could trigger increased buying, driving the price higher.

Also Read | Dogecoin Price Holds $0.22: Is a Powerful Rally Toward $0.47 Coming?

Dogecoin Derivatives See Steady Growth

The Dogecoin derivatives market saw a strong jump in activity as trading momentum increased. Up-to-date information shows volume up 14.13% to $5.19B, while open interest rose 2.88% to $3.37B. This indicates growing confidence and continued participation in DOGE futures.

The OI Weighted ratio is 0.0086%, which shows proportionally balanced positions among derivatives investors. Even though the percentage is low, it reflects steady sentiment rather than sharp speculative variations. Such stability is characteristic of a careful but positive outlook, with investors waiting for potential stimuli to trigger broader price reversals.

Also Read | Dogecoin Price Rises as Whale Boosts Holdings, Eyes $0.25 Resistance