Dogecoin (DOGE) Whales Accumulate 1 Billion DOGE Amid Critical Support Formation

Geopolitical uncertainty and shifting trade policies continue to impact cryptocurrency markets. However, Dogecoin demonstrates resilience amidst broader economic headwinds. DOGE has maintained support above key moving averages, forming a potential bullish flag pattern. Continued buying pressure could propel DOGE towards $0.35.

Technical Analysis Highlights

Over the past 24 hours, DOGE experienced volatility within a 4.3% range (0.211-0.220). A key support zone around 0.212 formed, validated by high-volume rebounds at 13:00 and 22:00.

A bullish recovery pattern emerged from the 16:00 low, with resistance encountered at 0.217-0.220. The 20:00 candle's significant volume surge, exceeding the 24-hour average, indicates renewed buying interest. Sustained price action above the established support level suggests potential upward momentum.

In the past hour, DOGE showed strong bullish momentum, rising from 0.215 to 0.216. Notable volume spikes occurred at 01:17, 01:21, and 01:54-01:55. A strong support zone around 0.215 was established, followed by a decisive breakout at 01:16-01:17, with volume exceeding 8 million.

The uptrend continued, forming higher lows in a clear ascending pattern. This culminated in a retest of resistance at 0.216-0.217. Heavy trading activity, with volumes exceeding 7 million at 02:01-02:02, confirmed strong buyer interest and hints at further potential upside.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources.

External References

• "Dogecoin Eyes $0.35 as Whale Accumulation Signals Bull Flag Breakout", The Crypto Basic, May 16, 2025.
• "Dogecoin Hovers at $0.22 Following Weeks of Gains, Analysts Share Mixed Outlooks", NewsBTC, May 17, 2025.