Dogecoin News Today: Dogecoin Price Surges 11.2% as Whales Buy $200M and Golden Cross Forms

Dogecoin (DOGE) has seen a significant influx of whale activity, with large investors accumulating 1 billion DOGE—valued at approximately $200 million—within a single 24-hour window [1]. This buying spree has pushed DOGE’s price higher by around 11.2% in the same period, with the asset currently trading near $0.24 according to CoinMarketCap [1]. Large holders now control nearly 50% of the total supply, indicating a shift in market sentiment and growing institutional confidence [1].

The accumulation coincides with the formation of a golden cross—a technical pattern in which the 50-day simple moving average (SMA) crosses above the 200-day SMA—marking the first such occurrence for DOGE since November [2]. This development is typically seen as a bullish signal, and historically, similar crossovers in DOGE’s chart have preceded sharp rallies, including a 130% surge in late 2024 [2]. While the golden cross is not a guaranteed predictor of price action, it is viewed as a key technical confirmation of a potential upward trend.

Technical indicators also support the bullish case. DOGE is holding above its 30-day SMA, and its relative strength index (RSI) stands at a neutral 57, suggesting further upside potential [2]. Analysts highlight that the combination of whale buying and favorable technical conditions could serve as a catalyst for a breakout above $0.28, potentially leading to a price target of $0.35 [2]. The $0.242–$0.245 level is now a critical resistance zone, with a decisive break above it likely to fuel a move toward $0.30 [2].

Beyond technicals, there is growing institutional interest in DOGE. On prediction market platform Polymarket, investors are assigning nearly 75% odds to the approval of a Dogecoin ETF [2]. Bloomberg ETF analysts Eric Balchunas and James Seyffart have raised their approval odds for a spot DOGE ETF to 90% by the end of 2025, citing a more favorable regulatory environment for crypto [2]. If approved, such an ETF could significantly broaden DOGE’s exposure to mainstream investors and serve as a major catalyst for price appreciation [2].

The market is closely watching both whale behavior and technical signals, as they provide key insights into investor sentiment and potential price direction. However, analysts caution that while the current conditions are favorable, the crypto market remains highly volatile and subject to rapid shifts. External factors such as regulatory developments and macroeconomic trends could influence outcomes, making it essential to approach DOGE’s next potential “moon mission” with a balanced and informed perspective [2].

[1] Source: [1] Whales Scoop Up 1B DOGE as Golden Cross Forms, https://www.newsbtc.com/dogecoin-2/whales-scoop-up-1b-doge-as-golden-cross-forms-confidence-build-up-for-the-next-moon-mission/

[2] Source: [2] Dogecoin Draws First Golden Cross Since November..., https://www.financemagnates.com/trending/dogecoin-draws-first-golden-cross-since-november-bolstering-doge-price-predictions-of-90-upside/