Dogecoin Surges 2.065% Amid Bullish Patterns and Whale Accumulation

Dogecoin's latest price was $0.2365, up 2.065% in the last 24 hours. The cryptocurrency has been the subject of significant market activity and analysis recently. According to crypto analyst Ali Martinez, Dogecoin is forming a double bottom pattern, with key levels at $0.26. If Dogecoin can reclaim and hold this price, it could confirm the pattern and potentially push the asset toward higher levels. This pattern is supported by the broader market setup, which shows two lows forming just under $0.20. If Dogecoin clears $0.26, it may test resistance near $0.30 and then around $0.36, which are past turning points and potential areas for profit-taking or reevaluation. Trader Tardigrade's analysis also supports this outlook, with a breakout area between $0.27 and $0.28 and a potential extension toward the $0.41 to $0.52 zone if the move comes with increased volume.

Large holders have been accumulating Dogecoin, adding over 310 million DOGE after a temporary sellout. This accumulation indicates that big buyers are back in the market and anticipating a potential upward move. However, it is not necessarily indicative of an uptrend, and the next few sessions will show whether this buying pressure persists or wanes. Despite the bullish chart structure, trading activity has cooled, with daily volume dropping and open interest declining. Options volume also decreased, with open interest in options falling more than 50%. This cautious stance reflects a tight range for Dogecoin, with a break higher than $0.26 potentially establishing the future price movement.

Dogecoin has also seen a surge in trading activity, with a rally from $0.17587 to a peak of $0.28667. However, the rally has cooled, and the price is now testing a key support zone near $0.227. A break below this level may expose Dogecoin to further downside, with $0.18 emerging as the next area of demand. The sharp drop signals a wave of short-term profit-taking, with trading volume reaching over $3.5 billion. Technical indicators show mixed signals, with a hidden bullish divergence on the 4-hour chart but a neutral RSI. Market watchers are waiting for price action confirmation before expecting a strong rebound. If Dogecoin manages to climb back above $0.245, it may attempt to reach $0.268. Until then, sideways movement or further drops remain possible.

Long-term holders of Dogecoin are not exiting their positions, with the Liveliness metric declining, suggesting that experienced holders are staying put. Their continued support has helped stabilize Dogecoin during past corrections. However, the coin also saw a notable rise in its realized profit/loss ratio, indicating that short-term holders are driving the current decline. Resistance is currently seen around $0.245, a level that must be reclaimed for bullish momentum to return. Some analysts are concerned that Dogecoin’s failure to hold above $0.227 could trigger further selling.

Dogecoin is nearing a key ascending support trendline after a brief correction from its recent peak. Technical indicators, including the Relative Strength Index (RSI), show potential strength at current levels. The price recently bounced near this trendline, with the RSI also forming a higher low, suggesting potential accumulation at current levels. The RSI on the 4-hour chart remains above key oversold levels, and a rebound appears to be underway. Previous price actions near this trendline have resulted in upward movement, which aligns with current RSI readings. A similar scenario is now developing, pointing to potential continuation in price movement. Dogecoin also recently formed a bullish MACD crossover, with similar past events seeing gains of 84%, 194%, and 446%. The current MACD position remains below the zero line, which has previously signaled the early stages of momentum buildup.

Whale wallets have been accumulating Dogecoin, with wallets holding between 100 million and 10 billion DOGE increasing their balances. More than 310 million DOGE was added after the recent pullback, showing a growing accumulation trend by larger holders. In addition, a major trader opened a long position with 10x leverage, entering at $0.2435. This move supports the view that institutions are backing Dogecoin at current price levels. Open interest in futures also reached $3.78 billion, with volume increasing over 75%. The Dogecoin price now holds above the 12-period EMA at $0.24, which traders see as a short-term support line.

Crypto analyst TradingShot has revealed that Dogecoin has entered a bullish pattern, which could spark a parabolic rally to $1.5. The analyst noted that Dogecoin has been trading within a bullish megaphone for the majority of its Bull Cycle since the October 9, 2023, low. In line with this, TradingShot declared that this may technically have been so far one massive accumulation phase along with the rest of the altcoin market. This is where the Livermore Accumulation Cylinder comes in, as it draws comparisons with the Megaphone pattern. Based on this Livermore model, the analyst stated that Dogecoin is starting the aggressive breakout phase above the Cylinder. With the accumulation technically over, TradingShot predicts that Dogecoin may pursue levels 8 and 9, which give price targets of $1.50 and $12, respectively. These price levels will mark new all-time highs (ATH) for Dogecoin, with its current ATH at around $0.73. The analyst’s accompanying chart showed that the meme coin could reach this $1.5 target between now and year-end. Meanwhile, Dogecoin could reach $12 by July next year. In line with this, TradingShot admitted that the $12 target is not expected to happen in this current Bull Cycle, which he predicts would end in the next six months or thereabout. However, he added that the $1.50 target is well within reach in this cycle and exactly double the price of the previous cycle high. Therefore, the analyst declared that this target is a “very attractive top candidate.”

In an X post, crypto analyst Trader Tardigrade stated that the Dogecoin monthly candle will close in just one week and that a Bullish Engulfing Candle is likely to be established. In line with this, he declared that a big moment is coming for Dogecoin. His accompanying chart showed that the meme coin could reach as high as $7.5 on this run. In another analysis, he declared that a rally to $1 is incoming for Dogecoin, echoing TradingShot’s prediction. His accompanying chart showed that the foremost meme coin could reach this psychological level between now and September.

Dogecoin continues to derive significant momentum from its strong association with social media culture and influential figures. Platforms such as Reddit and TikTok remain vital in amplifying its visibility and shaping retail investor sentiment. Integration initiatives, particularly involving payment functionalities with Elon Musk's X platform earlier in 2025, generated considerable market interest and catalyzed notable movement in the token's attention levels.

The broader macroeconomic landscape and political developments significantly influence Dogecoin's trajectory. Federal Reserve monetary policy shifts throughout 2025 impacted the cryptocurrency sector broadly, creating tailwinds for various assets including Dogecoin. Furthermore, political narratives tied to the token, particularly surrounding initiatives or departments sharing its 'DOGE' moniker, have proven capable of generating substantial market interest. However, Dogecoin faces persistent regulatory uncertainty, with major legislative frameworks for digital assets being enacted in the US and EU, alongside ongoing discussions regarding the potential approval of a dedicated exchange-traded fund (ETF).

Technical analysis indicators and market structure elements draw frequent attention from analysts and investors. Factors such as overbought signals detected in specific metrics and substantial accumulation activity by large holders during market dips are often cited as technical influences on near-term movements. Sustained interest from institutional players contributes to the perception of Dogecoin's evolving market role.

Regulatory clarity remains a critical factor for Dogecoin's future development path. The landmark crypto legislation enacted in the US shapes the operating environment for all digital assets, including meme coins. Market participants actively monitor the progress of a potential dedicated ETF, viewing its approval or rejection as a pivotal moment that could significantly impact mainstream adoption interest and open market positions tied to Dogecoin. The coin's fundamental reliance on social sentiment and viral trends, juxtaposed with its increasing institutional attention, defines its unique position within the volatile cryptocurrency landscape.