Key Insights:
- Whale wallets bought 220M DOGE in 24 hours, pushing price above the $0.130 support level.
- Dogecoin trading volume surged 70% to $2.12B, confirming renewed interest and market activity.
- RSI above 70 signals strong buying; failure to hold $0.130 may trigger short-term pullback.
Dogecoin jumped nearly 10% in the past day after major wallets bought more than 220 million DOGE. The purchase activity came as broader market conditions improved, with Bitcoin trading above $89,000 and Ethereum near $3,000.
The surge in whale demand pushed Dogecoin above $0.130, a level it had recently lost. The renewed buying interest also led to a 70% rise in trading volume, reaching $2.12 billion. These numbers suggest renewed attention after a period of lower activity.
Chart Structure and Key Levels
DOGE price was trading near $0.134, showing signs of a short-term rebound. The move above $0.130 has brought a change in market behavior, with some traders tracking whether bulls can maintain control.
The next resistance is at $0.140. If price closes above this zone, the path may open toward $0.150. Any move past that could take DOGE toward $0.20, which served as a major level in earlier rallies.
Indicators Turn Positive but Overheating Signals Appear
On the four-hour chart, the MACD has turned positive. The histogram has also shifted above the zero line, showing strength in short-term momentum. At the same time, the RSI has risen above 70, which often reflects strong buying pressure.
Drop Below $0.130 Could Trigger Weakness
While current moves show strength, a drop back below $0.130 could lead to short-term weakness. The next support is at $0.120. If that fails, DOGE could revisit the $0.110 area, which has acted as a demand zone in recent months.
DOGE remains closely tied to broader altcoin performance. As long as Bitcoin and Ethereum stay strong, attention on DOGE is likely to continue. Market participants are tracking price, volume, and wallet activity to assess what comes next.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/dogecoin-soars-10-as-whales-load-up-big/