Dogecoin News Today: Dogecoin Holds Key Trendline as Whale Accumulation and Institutional Bets Signal Potential 446% Gain

Dogecoin (DOGE) has shown resilience as it maintains support above a critical ascending trendline, with technical indicators suggesting potential for further upward movement. The cryptocurrency, currently trading at $0.2274, rebounded from a recent pullback, with the Relative Strength Index (RSI) forming a higher low on the 4-hour chart, signaling accumulation at current levels [1]. Analysts highlight that the RSI remains above oversold thresholds, a pattern historically associated with upward continuation. Previous price interactions with this trendline have led to gains, aligning with the current technical setup.

Whale activity reinforces the bullish narrative. Data from Santiment indicates that wallets holding between 100 million and 10 billion DOGE added 310 million tokens following the recent correction, suggesting growing confidence among large-scale holders [1]. This accumulation phase coincides with institutional participation, as evidenced by a $19.7 million leveraged long position initiated at $0.2435 on HyperLiquid, reflecting strategic bets on the asset’s short-term trajectory [1]. Meanwhile, futures open interest has surged to $3.78 billion, with a 75% surge in volume over recent periods, underscoring heightened market activity [1].

Technical analysis by Trader Tardigrade underscores the significance of the ascending trendline, which has supported Dogecoin’s rally since early 2023 [1]. A bullish MACD crossover, observed in historical data, has previously preceded gains of 84%, 194%, and 446%. While the current MACD remains below the zero line—a sign of early momentum—the setup mirrors past patterns associated with price breakthroughs [1]. The asset also holds above the 12-period EMA at $0.24, a key near-term support level for traders.

Market participants are closely monitoring whether Dogecoin can sustain its position above the trendline and break through key resistance levels. The convergence of technical strength, whale accumulation, and institutional positioning suggests a scenario where bullish momentum could continue, provided liquidity remains stable and broader market conditions remain favorable [1].

Source: [1] [Dogecoin Holds Key Trendline as RSI Rebounds: “Accumulation at Current Levels” Signals Strength] [https://cryptofrontnews.com/dogecoin-holds-key-trendline-as-rsi-rebounds/]