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Dogecoin (CRYPTO: DOGE) is showing signs of recovery as it edges closer to key resistance that could determine the next phase of its trend, while new on-chain data from Santiment reveals that whales have been busy buying over 80 million DOGE in the last 24 hours.

This aggressive accumulation by large holders has sparked renewed optimism, especially amid the broader market's struggles with global tensions and macroeconomic instability.

As Dogecoin attempts to emerge from a deep correction that saw it lose more than 70% of its value since December, this latest development could be crucial in tipping the scales.

Dogecoin Struggles To Recover As Global Tensions Weigh On Markets

Dogecoin has been one of the hardest-hit cryptocurrencies during the recent market downturn, shedding a massive 70% from its December highs.

Once viewed as a symbol of retail enthusiasm and viral momentum, DOGE is now leading the meme coin segment into a deeper drawdown. Investors who had high hopes for a continuation of last year's uptrend are now facing a reality check, fueled by macroeconomic instability and geopolitical risk.

US President Donald Trump's recent escalation of tariff measures—coupled with retaliatory actions from China—has heightened fears of a prolonged trade war, adding uncertainty to already fragile markets.

Equities, commodities, and crypto have all experienced extreme volatility, but meme coins like Dogecoin have suffered the most. Without a strong use case or fundamental backing, sentiment-driven assets like DOGE tend to face the heaviest selling when risk aversion spikes.

However, despite the broader negativity, there are hints of accumulation that could offer hope for a turnaround. According to data shared by top crypto analyst Ali Martinez, whales bought over 80 million DOGE in the last 24 hours.

This buying activity suggests that some large players are viewing the current levels as attractive entry points—even if a full recovery has yet to materialize. For now, Dogecoin remains in a vulnerable position, but rising whale interest could be a signal that investors will be watching closely.

DOGE/USD 4 Hour Chart From TradingView

Dogecoin is currently trading at $0.163 after a strong 25% rebound from the recent low of $0.13, testing a critical resistance zone that could determine its next move.

Bulls will be aiming for a decisive break above the 4-hour 200 moving average (MA) and exponential moving average (EMA), both positioned around the $0.17 level. Reclaiming this zone is crucial to confirm short-term strength and spark a sustainable recovery rally. So far, price action suggests growing interest, but macroeconomic headwinds and market-wide caution continue to limit upside potential.

On the flip side, if Dogecoin fails to break through $0.17 and slips below current levels, the risk of a deeper correction remains in place. Such a move could push the price back toward the $0.14–$0.13 support zone, erasing recent gains.

As volatility remains elevated across the crypto market, DOGE traders will be closely watching this resistance level for signs of confirmation—or rejection.