Dogecoin News Today: Whales Buy 1 Billion DOGE as Dogecoin Nears $0.20 Support Zone

Dogecoin has reentered a historically significant buy zone, with large investors—commonly referred to as "whales"—purchasing over one billion DOGE in a 24-hour period as of August 6, 2025. This accumulation has drawn attention from market analysts, who are drawing parallels to prior price surges that followed similar on-chain behavior. The current price of DOGE hovers near $0.20, approaching the ascending channel’s lower boundary, a pattern that has historically signaled the start of bullish trends [1].

According to crypto analyst Ali Martinez, the price action aligns with an ascending channel first visible on TradingView charts as of August 6, 2025. This pattern has been a precursor to major price rallies in previous cycles, including in 2017, 2020, and 2023 [1]. In 2021, for instance, Dogecoin surged to an all-time high of $0.7395 after touching the lower trendline of the same structure. The current setup suggests a potential repeat of this pattern, provided DOGE remains above key support levels.

The strong support zone between $0.18 and $0.19 has been a critical area of focus. Recent price action indicates that DOGE has bounced from this range, forming a solid base for potential upward movement. Analysts have highlighted several key resistance levels ahead, including $0.2485, $0.2875, $0.3429, $0.4111, and $0.4858. A breakout above the $0.24 mark is widely seen as a confirmation of bullish momentum.

Whale activity has intensified, with on-chain data showing a surge in large transactions. Santiment’s data reveals that whale addresses have accumulated over one billion DOGE within a short period, signaling increased institutional or high-net-worth interest. This accumulation has occurred alongside a modest price recovery after a recent dip, reinforcing the idea that whales are actively positioning for a potential rebound [1].

The buying pressure appears to be concentrated among large investors, as retail trading volumes have remained relatively stable. The top 10 DOGE holders have increased their combined holdings by over 30% since mid-July [1]. This is a common accumulation strategy used ahead of expected price movements. However, analysts caution that while whale activity is a strong indicator of market sentiment, it does not guarantee an immediate upward trend.

The broader crypto market remains in a consolidation phase, with Bitcoin and Ethereum trading sideways. In this environment, DOGE’s renewed accumulation could draw attention from investors looking for undervalued assets. The key for DOGE will be maintaining its position above the $0.18–$0.19 support range while testing the upper boundaries of the ascending channel.

Market observers are closely watching both technical indicators and whale behavior for signs of a potential breakout. While the current setup suggests a favorable environment for buyers, it remains uncertain whether retail investors will follow suit. The recent activity, however, has clearly indicated that large players are once again showing confidence in Dogecoin’s value proposition.

Source: [1] Whales are frantically bottom-fishing Dogecoin (https://www.binance.com/en/square/post/27977676586154)