Dogecoin News Today: Dogecoin Nears $0.24 Breakout Threshold After Whales Accumulate 680M DOGE

Dogecoin’s price has been consolidating within a symmetrical triangle near $0.23, with key resistance at $0.24 and support at $0.21–$0.22. Market data shows that whales accumulated approximately 680 million DOGE in August 2025, stabilizing price action during pullbacks and reinforcing the potential for a bullish breakout. Analysts suggest that a confirmed flip above $0.24 could lead to a 30% move toward $0.29, while a breakdown below $0.21 would increase downside risk and signal a deeper correction [1].

The consolidation pattern, observed on the 4-hour chart, is characterized by higher lows and lower highs since mid-July. Symmetrical triangles typically indicate a period of consolidation before a directional move. According to analysts, once Dogecoin breaks out of the triangle, the projected measured move could range between 25–35% [1]. Throughout August, the asset traded between $0.22 and $0.26, with reduced volatility and volume compression near the apex, a technical signal commonly associated with an impending sharp price movement [1].

Whales have played a significant role in the recent price structure. The accumulation of ~680 million DOGE by large holders has acted as a support floor during sell-offs. This activity reduces the available circulating supply for short-term traders and dampens downward pressure during pullbacks [1]. Analysts from BitGuru (X) noted that continued accumulation by large holders increases the probability of a bullish resolution, while weak buying interest could lead to a breakdown [1].

Traders are advised to monitor a daily close above $0.24 with increased volume to confirm a bullish breakout. If validated, the target for the price could be $0.29. Conversely, a decisive breakdown below $0.21 would invalidate the bullish scenario and signal a higher risk of further decline [1]. Position sizing should be tight, with stop losses placed below $0.21 to manage risk during the critical consolidation phase [1].

The likelihood of a 30% move increases if volume rises alongside a close above $0.24. However, confirmation is essential, and traders should avoid entering large positions during low-volume periods to reduce exposure to false breakouts and slippage [1]. Technical indicators and on-chain activity will remain crucial in confirming the direction of the next move.

Dogecoin’s price action reflects a period of compressed volatility within a defined technical pattern, supported by whale accumulation and market-level data. Market participants should keep a close eye on the $0.24 level as a key trigger point for either a bullish or bearish resolution. The projected target of $0.29 remains conditional on confirmation and proper risk management strategies [1].

Source: [1] Dogecoin May See 30% Move If $0.24 Flips After Whales Accumulate 680M DOGE August 24, 2025 (https://en.coinotag.com/dogecoin-may-see-30-move-if-0-24-flips-after-whales-accumulate-680m-doge/)