Dogecoin Price Dips Despite Whales Accumulating Over 2 Billion DOGE

Key Insights:

• Over the last week Dogecoin price targeted $1 as technicals suggested a bullish run ahead.
• Dogecoin whales recently accumulate 2 Billion DOGE token.
• DOGE daily open interest reached $3.75B.

Dogecoin (DOGE) price action was showing significant signs of a massive rally to $1.15 after forming a golden cross on the 1-day chart for the first time in nine months. However the recent market dip has led to a quick drop by

At the time of writing, DOGE price traded at $024195 with yesterday’s rally ebbing away to a close and giving way to today’s downtrend. Nonetheless, long-term fundamentals seem positive for DOGE price action, with whales scooping 2 billion DOGE tokens in one week.

Besides, derivatives data on Coinglass shows daily open interest is up to $3.75 billion.

A critical resistance last tested some seven months ago lies at $0.2600. If a rally should happen in the medium term, buyers must sustain strong demand and continue buying to support a breakout past this zone.

Dogecoin Price Targets $1.15, Here’s Why

Even after struggling with an upper-head resistance for two weeks now, a golden cross that appeared on the 1-day  Dogecoin price chart shows potential to explode towards $1.15.

As per the chart, the meme coin could hit the target by the end of 2025 if the pattern plays out successfully.

According to Zino, a price surge to $1 could happen sooner by the end of October 2025. Examining the short-term technical formation, whales have established a strategic demand zone between $0.15 and $0.20.

Crypto Patel, an expert price analyst, says the majority of DOGE smart money investors are filling their bags around the demand zone and could be the much-needed steam that will steer Dogecoin to a new ATH.

Whales Scooped 2 Billion DOGE tokens This Week

As the alt season draws closer, seasoned traders noted that DOGE joins Ethereum among the altcoins where savvy investors are funneling their funds.

According to a chart posted today by Ali_charts, whales acquired 2 billion Dogecoin tokens within the last

seven days.

Dogecoin Futures Data: Daily Open Interest Reaches $3.75B

Futures data on Coinglass suggests an increase in Dogecoin’s trading activity, with the daily open interest clocking $3.75 billion.

Funding rates across major exchanges, such as Binance and OKX, are favorable at 0.01% and 0.0414%, respectively, indicating rising demand for long positions and suggesting that the momentum is leaning bullish.

Adding to DOGE’s bullish sentiment, prediction markets on Polymarket have placed a 75% bet on the approval of a Dogecoin exchange-traded fund. Three asset managers have already filed for the ETF, including Grayscale,  21Shares, and Bitwise.

Grayscale was the first one to file its application in March, and the files are still under review by the SEC. Meanwhile, a slate of more than 70 altcoin ETF proposals is being reviewed by the regulator, which includes those for Solana, XRP, and Litecoin.

DOGE Price’s Future Outlook

Experts have shared their strong hope for Dogecoin’s price in the coming weeks. One of those optimistic forecasts is by Trader Kaleo on X, who noted that Dogecoin’s current price pattern mirrors the technical formation of early 2021.

He said that it won’t take long for corporate treasuries to start buying large amounts of DOGE.

Historically, the golden cross pattern has often preceded a bullish setup and has notably triggered 25% to 30% price gains.

Another trader, Crypto Patel, also mentioned there is a possibility for Dogecoin’s price to rally to $2 if accumulation continues around the $0.20 level.