Dogecoin jumps 6% as whales buy 330M DOGE
Dogecoin (DOGE) is rallying after whale investors accumulated about 330M DOGE in a short period. The buying pushed DOGE back above the $0.10 psychological level, trading near $0.1008 (+~6.19% in 24 hours).
Derivatives data suggests the move is being amplified by liquidations. Short liquidations were reported around $3.99M, forcing short-sellers to cover and adding upward momentum. Derivatives volume rose ~56% to $3.63B, while spot volume increased ~62% to $2.84B, indicating broader market participation.
Key technical levels for DOGE: resistance near $0.1013 and support around $0.09478. A breakdown below the $0.090–$0.092 zone could weaken the uptrend structure. Despite the strength, DOGE is still trading below a descending resistance line, so this has not yet confirmed a full reversal.
Traders may focus on whether DOGE can hold support and reclaim/maintain above $0.1013, and whether liquidation-driven volatility cools.
Bullish
Whale accumulation has supported a near-term rebound in DOGE, and the liquidation profile (short liquidations larger than long liquidations) suggests forced buying pressure rather than purely organic demand. Rising derivatives and spot volumes also point to active participation, which can help sustain momentum.
However, the rally is not yet technically confirmed: DOGE remains below a descending resistance line and needs to defend the $0.09478 support and ideally reclaim $0.1013. A break under the $0.090–$0.092 area could quickly reduce bullish sentiment and weaken the trend structure.
Net effect on DOGE itself is bullish in the short term (momentum + liquidation squeeze), with follow-through dependent on whether price can hold key supports and break the highlighted resistance.