Dogecoin Whales Collect 1 Billion DOGE in Just One Month: Sparking Speculation on Price Increase

Dogecoin has regained attention with a remarkable increase of over 50% in just a few weeks, indicating a resurgence of bullish activity across various timeframes. The cryptocurrency, known for its meme origins, is currently positioned at a pivotal demand level, where it is vital for buyers to maintain momentum to support further price increases. As market attitudes shift towards riskier assets, DOGE has re-emerged as a prominent altcoin, drawing significant interest from investors.

Despite the impressive surge, it appears that the upward movement may be just beginning, particularly given the positive on-chain indicators. New insights reveal that large holders have acquired substantial quantities of DOGE in the last month. This trend of accumulation among influential investors suggests a growing confidence that could drive another upward push.

The current price levels need to act as a springboard rather than a barrier. If buyers can preserve control and defend established support, a breakthrough towards previous resistance could be on the horizon. Conversely, if demand starts to falter, DOGE might enter a period of consolidation before the next significant movement. The focus is now on how the price behaves within this heavily accumulated zone. One thing is certain: large holders are preparing for potential developments.

Increased Whale Activity Indicates Possible Recovery for Dogecoin

Following a prolonged decline and widespread market apprehension, Dogecoin is finally signaling signs of resurgence. The altcoin, often scrutinized for its erratic price patterns, is on an upswing, having rebounded over 50% recently. Although DOGE remains over 50% below its peak in December 2024, the latest patterns suggest a substantial shift in momentum might be occurring.

The overall atmosphere in the market remains tenuous. Deteriorating macroeconomic indicators, from slowing economic growth to faltering consumer confidence, continue to loom over riskier assets. Traders are proceeding with caution, especially concerning speculative assets like Dogecoin. Nevertheless, if DOGE can hold the line above its current price points, analysts believe its recovery could evolve into a broader upward movement.

Adding to the optimistic outlook, leading analyst Ali Martinez has noted on-chain statistics revealing that whales have gathered over 1 billion DOGE in the last month. This surge in buying, often a precursor to future upward movements, signifies that major investors possess confidence in Dogecoin’s growth potential. This contrasts sharply with earlier trends of selling and distribution.

If the present support perseveres and whale accumulation persists, Dogecoin may be poised for another dramatic surge. While it is wise to remain cautious in the short term, particularly if market conditions deteriorate, the longer-term perspective is improving as foundational factors and market sentiment gradually align. For now, the focus remains on whether the meme-based cryptocurrency can stabilize and maneuver through the resistance levels that previously marked the highs of its past cycles.

Price Review: Consolidation Following the Rally

At present, Dogecoin is consolidating after a significant rise that propelled its price from under $0.17 to nearly $0.26 in early May. Analysis from the 4-hour chart reveals that DOGE has retraced to the $0.22–$0.23 range, where it is attempting to establish a local support base. This price area corresponds with prior breakout points and sits marginally above the 200 EMA ($0.195) and 200 SMA ($0.183), both of which are currently trending upward, confirming overall trend support.

Trading volume surged during the breakout phase, indicative of strong market interest, but has since tapered off, suggesting that buyers are taking a moment to regroup before possibly advancing again. The current market structure displays a range between $0.22 and $0.24, with $0.24 acting as a short-term barrier. A successful breach of this level could set the stage for a retest of the $0.26 peak and potentially lead to $0.28.

However, if DOGE slips below the $0.22 mark, the next level of support is anticipated at the 200 EMA. A deeper correction to the $0.20–$0.195 range would still be regarded as healthy within the larger upward trend, but any close beneath the 200 SMA would compromise the bullish outlook.