Dogecoin (DOGE) Eyes $0.28 After Massive Whale Accumulation
- Dogecoin (DOGE) jumps 18% to $0.2519 as whales accumulate ~2 billion coins, signaling strong bullish interest.
- DOGE faces resistance near $0.26, with potential to target $0.27–$0.28 if buying momentum continues.
- Trading volume rises slightly to $9.98B, while open interest drops 1.23%, showing balanced market activity.
Dogecoin (DOGE) surges on whale activity, moving up from $0.2131 to $0.2519 and challenging the $0.26 resistance level. At the time of writing, Dogecoin (DOGE) is trading at $0.2376, with a 24-hour trading volume of $8.97 billion and a market capitalization of $35.81 billion. The token experienced a modest decline of -3.68% over the last 24 hours.
Major Whales Boost Dogecoin Holdings
Crypto analyst Ali Martinez highlighted that the whales have been aggressively stocking up on DOGE over the past week, picking up approximately 2 billion coins. This substantial accumulation indicates rising interest among major market players.
Dogecoin Gains 18% Amid Strong Bull Run
Furthermore, analyst BitGuru noted that Dogecoin has risen from $0.2131 to $0.2519 recently, representing a remarkable 18.19% increase. This surge reflects strong buying pressure from bulls at key levels, leading to higher prices.
In the short term, DOGE faces resistance around the $0.26 region. If the bull run continues, the token may target the $0.27–$0.28 range. Market observers will be monitoring the extent to which this push can lead to further upward movement.
Also Read | Dogecoin (DOGE) Price Targets $0.30 as Bullish Pattern Signals Breakout Ahead
Dogecoin Market Sees Mixed Signals in Derivatives Activity
The trading volume of DOGE increased marginally by 0.73% to $9.98B. Market participation remains steady, with investors demonstrating modest interest despite recent price movements. Liquidity remains healthy, which keeps the market active.
However, open interest dropped by 1.23% to $3.64B, reflecting a reduction in active derivative positions. The small decline may indicate reduced speculative momentum, with some market participants closing rather than opening new contracts.
Based on the OI-weighted data, the funding rate was 0.0204%, indicating a relatively balanced derivatives market. This implies that long and short positions are fairly equal, with no significant bias from either side.
Overall, the trend in funding suggests that DOGE’s movement faces cautious trader sentiment. This balanced formation may lead to gradual price fluctuations until a drastic change in market conditions triggers new momentum.
Also Read | Dogecoin (DOGE) Price Eyes $0.26 With Clear Path to $0.70
