Dogecoin Shows 84% Surge Potential as Whale Accumulation Hits All-Time High

Dogecoin has been exhibiting a recurring pattern on its weekly chart, characterized by small price increases followed by larger surges. This pattern has garnered significant attention from analysts, who suggest that the current setup could lead to a major rally, potentially pushing DOGE toward the $1 mark. Currently, Dogecoin is trading at $0.1741, and there has been a notable increase in both trading volume and whale accumulation.

According to analysis by Trader Tardigrade, Dogecoin has been forming a rounding bottom pattern since December 2024. This pattern is recognized as a bullish reversal signal that often precedes a strong upward move. If DOGE manages to break through the neckline resistance at $0.23, it could result in an 84% price surge, reaching approximately $0.44.

Technical indicators also support this potential breakout. The Money Flow Index (MFI), which measures buying and selling pressure, has crossed above the 50 level, indicating rising capital inflows and growing buying pressure. However, the Average Directional Index (ADX) is trending downward, which may limit upward momentum in the short term and could lead to sideways trading.

Additionally, Dogecoin is testing key Fibonacci retracement levels. DOGE has dropped below the 0.618 support at $0.178 and is now heading toward the 0.786 level at $0.158. If the price continues to drop, support at $0.13 could be crucial, as it has previously held firm during past corrections.

Whale accumulation and volume growth further support the bullish setup. According to data, whales holding between 10 million and 100 million DOGE have added 320 million tokens in the past week. These addresses now control an all-time high of 24.98 billion DOGE, indicating strong investor confidence despite broader market corrections.

Dogecoin is also trading near a critical resistance level at $0.213. This area coincides with the 100% Fibonacci extension, a key point for determining if a rally can continue. If DOGE breaks above this level with strong volume, it may signal the beginning of a stronger upward trend.