Dogecoin News Today: Whales Shift $23M Dogecoin to Cold Storage, Signal Parabolic Surge Confidence

Dogecoin's market activity has drawn attention following a $23 million withdrawal from exchanges, a move analysts attribute to whale accumulation and reduced short-term liquidity. On-chain data from October 9, 2025, confirmed the outflow, which has sparked speculation about potential price surges Dogecoin Sees $23M Outflow from Exchanges^[1]. The withdrawal, primarily from major trading hubs, aligns with historical patterns where large holders transfer assets to cold storage, signaling confidence in long-term price appreciation Dogecoin Sees $23M Outflow from Exchanges^[1]. Analysts note that such outflows often precede market rallies by reducing available sell-side liquidity Dogecoin Sees $23M Outflow from Exchanges^[1].

Technical analysis reinforces bullish sentiment. Dogecoin's price stabilized above the $0.24 support level, with indicators like the 50 EMA and ascending triangle patterns suggesting potential upward momentum . A breakout above $0.27 could trigger a 40% rally toward $0.30, with further gains projected toward $0.30–$0.35 if buyers maintain control . Volume data also supports this outlook, showing consistent inflows to non-exchange wallets and steady liquidity retention .

The withdrawal coincides with broader institutional interest in Dogecoin. The 21Shares DOGE ETF was recently listed on the DTCC platform, providing regulated exposure to the meme coin . Additionally, whale activity has intensified, with over 30 million DOGE ($7 million) accumulated during recent dips Dogecoin Sees $23M Outflow from Exchanges^[1]. This accumulation, coupled with reduced exchange reserves, has bolstered market confidence, as large holders appear to position for sustained price growth .

Market dynamics suggest a shift from a slow-bull phase to a parabolic growth pattern, mirroring historical cycles. Analysts highlight that Dogecoin's weekly chart shows higher lows since mid-2024, with the current structure resembling setups for exponential rallies . If the $0.25–$0.27 resistance is breached, the coin could target $0.30–$0.35 in the short term, with longer-term projections reaching $1 by 2026 .

Despite bullish signals, risks remain. A breakdown below $0.24 could trigger renewed selling pressure, though current support levels have held firm . Broader market conditions, including macroeconomic factors and regulatory developments, will also influence Dogecoin's trajectory .