Dogecoin News Today: Whales Accumulate 1.08 Billion Dogecoin Driving 12% Weekly Gain

In a significant development, whales have acquired 1.08 billion Dogecoin (DOGE) within a span of 48 hours, driving a 12% weekly price gain for the cryptocurrency. According to on-chain data, wallets holding between 100 million and 1 billion DOGE tokens added over 1.08 billion tokens during this period. This surge in accumulation has propelled Dogecoin's price from around $0.19 to $0.2388.

The breakout was further supported by a sharp rise in volume, which surged by 85.41% to $19.69 billion. Open interest increased by 25.42% to reach $3.98 billion, while the long/short ratio on Binance stood at 2.59. Additionally, top traders on Binance showed a long bias of 4.35, indicating bullish positioning across the board. Meanwhile, liquidations favored long positions, with total liquidations hitting $56.81 million over the past 24 hours. Shorts accounted for $36.74 million of that figure, showing that aggressive short positions were wiped out during the rally.

Coinglass data shows that DOGE’s OI-weighted funding rate spiked to 0.0373%, the highest seen in 2025. This level suggests elevated demand to maintain long positions, pointing to rising speculative confidence across the derivatives market.

Technical analysts have noted several bullish patterns in Dogecoin's price movements. Trader Tardigrade highlighted a descending broadening wedge on Dogecoin’s 2-week chart, marking the end of a five-wave cycle. Such a formation typically leads to a breakout, and DOGE has now exited the wedge with strong bullish momentum. Additionally, Dogecoin just printed its third bullish engulfing candle since 2019 on the monthly chart. Previous occurrences of this pattern led to significant rallies, including the 2021 move that took DOGE above $0.70.

Further reinforcing the bullish case, Ali Martinez shared a chart showing a clean breakout above multi-month resistance. He projected that if DOGE maintains a close above $0.245 by the weekly close, a move toward $0.42–$0.50 may follow. The MACD crossover on the 2-week timeframe flipped from oversold territory, reinforcing the case for a longer-term trend reversal. This technical signal previously marked major bottoms in the DOGE cycle and now aligns with broader market optimism.