Dogecoin News Today: Dogecoin Surges 25% in Days, Whales Accumulate Billions

Dogecoin has recently shown signs of significant bullish momentum, with technical indicators and whale activity aligning to suggest further upward movement. The cryptocurrency has broken above its 20-week simple moving average (SMA) at $0.20489, nearing the upper Bollinger Band. This movement confirms a bullish continuation pattern, indicating that market sentiment has shifted in favor of buyers.

On July 18, Dogecoin was trading at $0.25, up from its price of $0.20 just days earlier. This breakout follows a trend reversal that began in the $0.13 to $0.15 range, where Dogecoin had support. The green weekly candle now shows a move away from the bearish phase, suggesting that the cryptocurrency is poised for further gains.

The weekly Bollinger Bands have started expanding after a prolonged squeeze, indicating a potential high volatility phase. The price is now approaching the upper band near $0.31888, which, if reached, would complete the band breakout pattern. Although overbought conditions may follow, the momentum change remains key. The recent surge started after Dogecoin repeatedly tested the $0.19 support line, bouncing off it multiple times before surging past $0.25. This push is Dogecoin's highest level since mid-May, representing over 80% growth since the recent bottom.

Whale wallets holding 100 million to 1 billion DOGE have increased their holdings to 25.36 billion, suggesting renewed institutional confidence. This renewed accumulation coincides with the ongoing price rally and indicates increased large-scale interest. Whale involvement tends to suggest increased confidence in long-term moves, and these addresses may influence Dogecoin’s next potential push toward the $0.27–$0.30 zone, where resistance is expected.

Additionally, a whale recently closed a long position, locking in a $2.14 million profit. The same whale then re-entered with a 10x leveraged position on 84.08 million DOGE, worth $21.24 million. Within 10 hours, the position had an unrealized profit of $1.64 million. Such moves suggest high confidence from large traders, coming alongside technical signals that point to an expanding Bollinger Band range. With strong momentum and volume implied, the trend remains active.

Dogecoin’s recent rally combines strong technical setups with increased whale involvement. The breakout above the 20-week SMA, together with accelerating accumulation and leveraged entries, outlines a market in transition. The cryptocurrency is showing renewed strength as technical indicators and whale activity align to suggest further upward movement, preparing for a potential massive upside.