Dogecoin News Today: Big HODLers Fuel Dogecoin's Supply Squeeze and $0.46 Target

Dogecoin (DOGE) is gaining momentum as technical indicators and on-chain data suggest a potential breakout from its current range, with analysts targeting a rise toward $0.46. Recent whale activity and accumulation patterns have intensified, with large holders acquiring significant quantities of DOGE. On-chain data reveals that whale transactions exceeding $100,000 have surged by over 320% in recent weeks, while long-term holders (those with DOGE for more than a year) now account for 42% of the total supply-up from 30% last year. This accumulation, coupled with a tightening supply dynamic, has positioned DOGE for potential upward movement.

Technical analysis highlights a bullish setup, with DOGE forming an ascending triangle pattern on the 4-hour chart, targeting $0.3350 as a near-term resistance level. The price has also broken above its 50-day and 100-day exponential moving averages (EMA) and is testing key Fibonacci retracement levels near $0.2626. A decisive close above $0.2626–$0.275 could trigger a move toward $0.30, with further targets at $0.33–$0.36 (30–40% upside) and even $0.46 under sustained momentum. The symmetrical triangle pattern on the daily chart suggests a potential 75% rally from current levels if the resistance at $0.265 is decisively breached.

On-chain metrics reinforce the bullish case. The "Spent Coin Age Band" has declined sharply, indicating reduced movement of dormant coins and signaling early-stage uptrend dynamics. Additionally, the "HODL Waves" data shows growing participation from both short- and long-term holders, tightening the supply-demand balance. Whale accumulation of 30 million DOGE in recent weeks has coincided with a 15% recovery from prior support levels, pushing the price above $0.26. This activity suggests institutional confidence, with mid-tier wallets now controlling 10.77 billion DOGE and the top 1% holding over 96% of the total supply.

Market context remains supportive. Dogecoin's alignment with a 42-day price cycle-a historical pattern of 27–42-day bull phases-positions it for a potential 1,000% rally during the next bullish phase. Broader crypto sentiment, including Bitcoin's performance and global liquidity trends, could further amplify DOGE's gains. Analysts also note a correlation between DOGE's price and global M2 money supply growth, suggesting a long-term target of $1 if liquidity expansion continues.

Risks persist, however. A drop below $0.24–$0.25 support could trigger a retest of the $0.22 floor, with a deeper correction to $0.18 possible if bearish momentum intensifies. Derivatives markets show mixed signals, with the long-to-short ratio on Coinglass rising above one, indicating increased bullish bets. Traders are advised to monitor volume confirmation during any push through resistance levels to validate the breakout.

The convergence of whale accumulation, technical patterns, and improving on-chain metrics suggests Dogecoin is primed for a significant move. With institutional buying at support levels and a tightening supply structure, the path to $0.30–$0.36 appears increasingly plausible, though execution will depend on sustained volume and broader market conditions.

Source: [1] Dogecoin Poised for Breakout as Whale Accumulation and Chart Patterns Signal Up to 20% Rally (https://www.cryptometer.io/news/dogecoin-poised-for-breakout-as-whale-accumulation-and-chart-patterns-signal-up-to-20-rally/) [2] Dogecoin Surges Past $0.26: Whale Accumulation and Technical Patterns Signal Potential 75% Rally (https://www.fxleaders.com/news/2025/10/07/dogecoin-surges-past-0-26-whale-accumulation-and-technical-patterns-signal-potential-75-rally/) [3] Dogecoin Price Outlook: Golden Cross, Whale Accumulation and $1 Target on the Horizon (https://coinjournal.net/news/dogecoin-price-outlook-golden-cross-whale-accumulation-and-1-target-on-the-horizon/)