Dogecoin News Today: Whales Amass 2 Billion DOGE as $0.18 Support Faces Crucial Test

Dogecoin (DOGE) remains in a critical technical crossroads as the memecoin clings to its $0.18 support level, with analysts closely watching for signs of a potential rebound toward $0.26 or a deeper consolidation toward $0.14. After a 7.5% slide to $0.181–$0.182, the asset faces immediate selling pressure amid a 61% decline in futures open interest from October highs, signaling the exit of leveraged participants but not yet confirming reaccumulation, according to a CoinDesk report. Meanwhile, bullish divergence on the RSI suggests a short-term rebound could be in play if the $0.17 support holds, potentially propelling DOGE toward $0.20 and beyond, according to a Yahoo Finance piece.

The token's price action has been confined to a $0.17–$0.20 range since October 11, with derivatives data showing growing speculative interest. Futures open interest rose 9% in 24 hours, with 70% of participants long, reflecting institutional accumulation themes in high-beta digital assets, according to a Yahoo Finance analysis. A cup-and-handle technical pattern is emerging, with a breakout above $0.2088 resistance targeting $0.25–$0.27. However, a breakdown below $0.1990 could trigger cascades toward $0.18, where historical buyers have previously defended the level, per a Yellow report.

Recent volatility has tested DOGE's resilience. A 5.5% drop to $0.1843 followed a breach of the key $0.1940 support level, driven by institutional selling and a 180% surge in trading volume, according to a CoinDesk report. Despite the selloff, DOGE remains one of the few large-cap coins attracting whale activity, with hidden bullish divergence on the 12-hour chart hinting at a potential rebound, as reported by Yahoo Finance. Analysts like Dian Sanchez and Ether Nasyonal have highlighted the token's 43% year-to-date gain and drawn parallels to its 2017 and 2021 bull cycles, with some projecting a parabolic rally to $10.

The launch of the REX-Osprey DOGE ETF (DOJE) in September expanded institutional access, though the fund's 1.5% expense ratio remains a hurdle compared to direct ownership, per the Yellow report. Competing ETF proposals from Bitwise and Grayscale await SEC decisions, which could inject fresh liquidity. On-chain data also shows whale activity, with 2 billion DOGE accumulated in early October, often a precursor to significant price moves, as noted by Yellow.

Technical indicators remain mixed. The RSI hovers near 52, indicating balanced conditions, while MACD shows shallow positive divergence—consistent with controlled accumulation, according to Yahoo Finance. However, a death cross formed by EMAs (50-day below 200-day) has raised bearish concerns, with whales offloading 1.05 billion DOGE ($180 million) in a week, per a Yahoo analysis.

Traders are monitoring several catalysts. A sustained close above $0.2088 would validate the cup-and-handle pattern, while a breakdown below $0.18 could extend the slide toward $0.14, as the CoinDesk report noted. Broader market dynamics, including Bitcoin's performance and potential ETF approvals, will also influence DOGE's trajectory. With derivatives positioning rebuilding and social sentiment bullish, the next move—upward toward $0.25–$0.30 or downward toward $0.15–$0.18—hinges on near-term closes relative to the $0.20 pivot, according to Yellow.