Dogecoin News Today: Dogecoin Rises 8.4 on Whale Accumulation and Institutional Interest

Generated by AI AgentCoin World
Friday, Aug 8, 2025 12:36 am ET1min read
DOGE
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Aime RobotAime Summary

- Dogecoin (DOGE) surged 8.4% to $0.22 in 24 hours, driven by whale accumulation and institutional trading volume exceeding $1B.

- Whale buying of 1B DOGE and technical indicators signal potential breakout above $0.224, with analysts forecasting targets up to $0.50.

- Meme coin market sentiment and institutional interest are boosting DOGE's profile, potentially transitioning it from speculative asset to mainstream digital currency.

- Key resistance at $0.222–$0.224 and consolidation patterns highlight risks, with sustainability dependent on volume and whale-led momentum.

Dogecoin (DOGE) surged 8.4% in the 24-hour period ending August 8, climbing from $0.20 to $0.22 amid a two-phase rally [1]. The price action spanned a $0.021 range, marking a volatility level of 9.5%. The rise was driven by two significant breakout waves: one at 10:00 pushing the price to $0.213, and another between 19:00 and 22:00 surging to $0.223 [1]. During the same period, trading volume exceeded $1 billion, significantly higher than the daily average of $378 million, signaling increased institutional interest [1].

Whale accumulation also played a crucial role, with over 1 billion

DOGE
purchased in 48 hours. Analysts have cited this as a bullish sign, with some forecasting price targets as high as $0.34 and $0.50 [1]. Technical indicators suggest new resistance is forming between $0.222 and $0.224, while support remains firm above $0.220. The price has consolidated in the $0.2208–$0.2223 range on declining volume, indicating traders are closely watching for a potential breakout [1].

The RSI is nearing historical thresholds associated with 70% rallies, and an inverse head-and-shoulders pattern has emerged, with liquidation clusters near $0.21. Traders are particularly watching whether whale-led accumulation will trigger a short squeeze above $0.223 and confirm a breakout past $0.224. A sustained follow-through toward $0.25 is seen as the next key target [1].

The broader meme coin market also appears to be influencing DOGE’s performance, with increased retail and institutional attention boosting overall sentiment. If the current breakout holds, it could mark a turning point for DOGE, transitioning it from a speculative meme coin to a more mainstream digital asset. However, caution remains as consolidation and volume patterns will determine the sustainability of the rally.

Source: [1] DOGE Surges 8 as Whale Buying Signals Bullish Breakout (https://www.coindesk.com/markets/2025/08/08/doge-surges-8-as-whale-buying-signals-bullish-breakout)