Dogecoin Rallies to $0.30 on Whale Accumulation
Dogecoin rallied over 10% in 24 hours to trade above $0.24 and has gained 23% over the past week, outperforming Ethereum and Cardano. Whale accumulation reached over 1 billion DOGE (~$200 million), lifting large-holder ownership to nearly half of circulating supply. Technical analysis of Dogecoin shows strong support at $0.22, key resistance at $0.28, RSI at 67 and MACD in bullish territory. A sustained breakout above $0.28 could drive Dogecoin toward $0.30, while failure to hold $0.22 risks a drop below $0.20. Traders should monitor whale flows and market volatility for short-term entry points and potential trading opportunities.
Bullish
The combined news of significant whale accumulation and constructive technical patterns suggests bullish momentum for Dogecoin. In the short term, large inflows by whales and an RSI near 67 indicate sustained buying pressure that could trigger a breakout above the $0.28 resistance. This may lead to rapid price gains toward $0.30 as seen in prior rallies. Over the longer term, increased large-holder ownership and a validated double-bottom formation enhance support stability around $0.22, reducing downside risk and laying the groundwork for further upside. Traders may capitalize on episodic volatility and whale-driven flows to optimize entry and exit points in this bullish scenario.