Dogecoin News Today: Dogecoin's $0.23 Make-or-Break Moment: Whales vs. Emerging Threats

Dogecoin (DOGE) has ignited renewed speculation about a parabolic price surge ahead of 2025, driven by a confluence of on-chain metrics, whale activity, and bullish sentiment among traders. The meme coin, currently trading near $0.20, has rebounded from a critical demand zone and is testing key resistance levels that could determine whether it resumes its previous uptrend or faces further consolidation, according to an Ambcrypto analysis. Analysts are closely watching the $0.21–$0.23 range, where heavy whale accumulation and structural indicators suggest a potential inflection point.

The recent rebound from the $0.175–$0.18 support zone has drawn attention to the $0.21 level, where over 10.5 billion DOGE tokens have been accumulated by large holders. This cluster represents the average cost basis for whales, creating a supply barrier that could either validate bullish momentum or trigger selling pressure upon retests. If Dogecoin closes above $0.23, it could trigger a rally toward $0.26 and $0.30, aligning with the former lower boundary of its ascending channel. Derivatives data from Binance further underscores the optimism, with 71.75% of active accounts holding long positions—a stark imbalance that signals growing confidence despite recent volatility.

On-chain metrics reinforce the cautious optimism. Dogecoin's MVRV ratio stands at 0.63, indicating modest profitability for holders, while the NVT ratio spiked to 93.4, reflecting increased transactional activity relative to its valuation. These trends suggest improving network participation, though sustained growth in both metrics will be critical to confirm a new accumulation cycle. Meanwhile, the Stock-to-Flow ratio has risen to 110, signaling tighter circulating supply and reduced sell-side pressure—a development often associated with early accumulation phases.

The broader market context introduces both opportunities and risks. While Dogecoin's cultural appeal and social media-driven demand remain intact, newer projects like Remittix (RTX) and $LYNO are challenging its dominance. RTX, for instance, has raised $26.2 million in its presale and offers utility in the $19 trillion remittance sector, drawing comparisons to Dogecoin's 2019 rally, according to a TechFinancials report. Similarly, a top Dogecoin whale recently moved 1.3 million DOGE into $LYNO, a presale project targeting a 5,700% profit potential through AI-driven arbitrage, according to a LiveBitcoinNews report. Such shifts highlight the evolving landscape, where utility-driven tokens are increasingly capturing investor attention.

Despite these dynamics, structural recovery remains contingent on reclaiming the $0.23 threshold. A successful breakout could pave the way for higher levels, but any rejection near this range may trigger short-term liquidations before a renewed push. Analysts caution that while the foundation for a rally is building—bolstered by whale support and tightening supply—structural resistance must first be overcome to unlock the next phase of growth.