Dogecoin surged 10% in the past 24 hours, climbing above key resistance levels as whale accumulation, bullish technical patterns, and broader crypto market momentum powered a sharp upward move.
On-chain data shows significant accumulation activity, with whales acquiring approximately 1.14 billion DOGE during the surge—equating to around $227 million in trading volume, according to the information. Mid-sized wallets holding between 1 million and 10 million DOGE added 800 million tokens since May, signaling renewed investor confidence.
Social media activity around Dogecoin also spiked, with social volume rising 990% week-over-week. The surge in attention reflects growing optimism surrounding Dogecoin’s price action and broader altcoin participation.
Technical breakout confirms bullish structure
Technically, Dogecoin broke through the $0.188 resistance level, corresponding to the 23.6% Fibonacci retracement of July’s price swing. The move above the 100-hour simple moving average confirmed a bullish trend reversal.
The hourly Relative Strength Index (RSI) reached 76.49, indicating strong momentum despite entering overbought territory. Meanwhile, open interest in DOGE derivatives climbed 15% in 24 hours to $2.44 billion, highlighting a sharp increase in leveraged long positions.
Broader market rally boosts altcoin strength
Dogecoin’s gains followed a market-wide surge, fueled by Bitcoin’s breakout above $118,000 and renewed macro optimism after President Trump’s calls for aggressive Federal Reserve rate cuts. The positive sentiment spilled over into altcoins, lifting Dogecoin and other assets with strong technical setups.
With sustained whale interest, bullish chart signals, and growing market confidence, Dogecoin appears well-positioned to test higher resistance levels—though traders should remain alert for volatility given the sharp pace of gains.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/dogecoin-jumps-10-as-whales-and-technical-breakout-fuel-rally/