Dogecoin Whales, Double Bottom Signal $0.26 Rally
Dogecoin is showing signs of a bullish reversal after forming a clear double bottom at $0.1467. Whale accumulation has accelerated, with addresses holding 1–10 million DOGE rising to 10.5 billion tokens and 10–100 million DOGE wallets growing to 24.8 billion. On-chain data also indicates large holders (1–100 million DOGE) continue to increase positions while retail exposure declines.
The recent Dogecoin price rebound saw DOGE jump 7% to $0.18 on heavy volume, with 24-hour trading volume surging 251% to $1.4 billion. DOGE futures open interest climbed 10.5%, and liquidations of about $8.17 million were mostly short positions.
Technical indicators support further upside. The biweekly stochastic shows a bullish cross on an ascending trendline, RSI has rebounded toward the neutral 50 zone, and MACD lines have made a bullish crossover. Funding rates have stayed positive since July 2024. Traders are now eyeing a rally toward resistance at $0.24–$0.26, led by whale buying pressure.
External factors are also boosting sentiment. The US government extended tariff negotiations to August 1, and Elon Musk’s launch of the America Party and pro-Bitcoin stance have added to bullish momentum.
Traders should monitor whale accumulation, key support at $0.1467, and technical levels for entry and exit signals.
Bullish
The combined on-chain and technical signals point to a bullish outlook for Dogecoin. Accelerating whale accumulation and a clear double bottom at $0.1467 show strong support from large holders. The 7% price surge to $0.18, 251% jump in trading volume, 10.5% rise in futures open interest, and positive funding rates underscore growing investor confidence. Key indicators—stochastic bullish cross, RSI rebound, MACD crossover—signal further upside. External drivers, such as the U.S. tariff extension and Elon Musk’s pro-Bitcoin stance, add to momentum. In the short term, these factors could push DOGE toward the $0.24–$0.26 resistance zone. Over the long term, sustained whale buying and on-chain accumulation provide a solid foundation unless the $0.1467 support breaks.