Dogecoin News Today: Dogecoin Price Dips Despite Whale Accumulation and 4.029% Rally

Dogecoin (DOGE) has seen a recent price dip despite notable on-chain accumulation by large investors. Over the past week, whales have acquired more than 2 billion DOGE tokens, signaling strong institutional or high-net-worth interest in the cryptocurrency. This accumulation coincided with a golden cross on the 1-day chart—a bullish technical indicator that previously signaled significant price rallies. However, the immediate price action has since faltered, with DOGE trading at $0.24195 as of the latest update [3].

The surge in whale activity saw 2 billion DOGE, valued at around $500 million, moved into long-term wallets within a 24-hour period, which pushed the price up by 4.029%. The following week saw another 1 billion tokens added to these wallets, pushing the price higher and triggering the golden cross formation for the first time since November 2024 [6]. Despite this, the price has since pulled back, with traders watching closely for a breakout above the key resistance level of $0.273 [2].

Derivatives data from Coinglass indicates that the daily open interest for DOGE futures has climbed to $3.75 billion, reflecting increased speculative activity and a rising demand for long positions. Funding rates on major exchanges such as Binance and OKX are currently favorable, at 0.01% and 0.0414% respectively, which suggests that market participants are leaning bullish [3].

Analysts have pointed to historical patterns that could support a continuation of the bullish trend. For instance, Trader Kaleo has noted that the current price formation resembles the early 2021 phase for DOGE, which saw a major price surge. Crypto Patel, another market analyst, has suggested that continued accumulation around the $0.20 level could propel the price toward $2 [1].

Looking ahead, the potential approval of a Dogecoin ETF could also serve as a major catalyst. Prediction markets on Polymarket show a 75% chance of approval, with three major asset managers—Grayscale, 21Shares, and Bitwise—having already filed proposals with the SEC [3]. These developments indicate that the regulatory environment for DOGE is evolving, which could bring more institutional capital into the market.

While the long-term fundamentals for DOGE appear positive, the near-term price movement remains under pressure as the coin struggles to break through key resistance zones. The market is currently in a consolidation phase, with traders watching for signs of renewed buying momentum. If the accumulation by whales continues and the price sustains above current levels, DOGE could potentially reach $0.30 in the short term and $1.15 if bullish momentum persists [1].

The recent activity underscores the tug-of-war between bullish whale-driven sentiment and broader market caution. Retail investors remain cautious, waiting for confirmation that the price can break through the $0.273 resistance before committing to long positions. The coming weeks will be crucial in determining whether DOGE can follow through on its technical signals and deliver on the optimistic price targets outlined by analysts.

Sources:

[1] Dogecoin Price Dips Despite Whales Accumulating Over 2 Billion DOGE... (https://www.thecoinrepublic.com/2025/08/14/dogecoin-price-eyes-1-15-as-whales-accumulate-2-billion-doge/)

[2] Dogecoin (DOGE) Price: 2 Billion Token Accumulation Sets... (https://coincentral.com/dogecoin-doge-price-2-billion-token-accumulation-sets-stage-for-major-breakout/)

[3] Dogecoin Whales Accumulate 2 Billion DOGE, Price Up... (https://www.ainvest.com/news/dogecoin-whales-accumulate-2-billion-doge-price-4-029-2508/)

[6] DOGE price forms golden cross for the first time since Nov... (https://m.economictimes.com/news/international/global-trends/us-news-doge-price-forms-golden-cross-for-the-first-time-since-nov-2024-could-a-massive-300-surge-be-next/articleshow/123279401.cms)