Whales bought 230M DOGE in 24 hours, pushing the price from $0.20 to $0.22.
Trading volume surged 146%, with market cap reaching $33.53 billion.
Analysts watch $0.23 resistance for bullish reversal confirmation.
Dogecoin — DOGE, roared back into the spotlight after a massive surge in whale activity sent waves through the market. In a span of roughly 24 hours, large investors acquired 230 million DOGE which rallied the price from $0.20 to $0.22. This sudden spike was unexpected for traders and analysts alike, injecting new life into the meme coin's movement. When heavy buying like this occurs, it typically indicates more than just short term speculation as it may signal the start of a larger shift in momentum.
https://twitter.com/ali_charts/status/1953645590224531533 Whales Stir the Waters
The scale of this accumulation speaks volumes about confidence among high-stakes investors. Dogecoin now trades at $0.2229, reflecting an 8.2% increase within a single day. Market capitalization has risen to $33.53 billion, while trading volume surged 146.64% to reach $2.94 billion. These numbers reveal that interest in DOGE is not fading; in fact, it may be strengthening. Analysts have already pointed out an important bearish zone of resistance between $0.222 and $0.224.
Currently DOGE is sitting above the 9-day moving average and the Relative Strength Index is in a comfortable range that is neutral, indicating there is some distance to move before being considered overbought. Many traders are now watching closely for consolidation before the next major price swing. If DOGE can push past the $0.23 mark, it may test resistance in the $0.28 range. A successful breakout could set a short-term target of $0.25.
Looking Back to Move Forward
This isn’t the first time whales have made a bold move on Dogecoin. Back in July, they grabbed 310 million DOGE in a single day. That buying spree sent shockwaves through the market and fueled speculation about a potential run to $1. While the price never reached that landmark, the event still stands as proof of how quickly whale activity can change the market’s mood. The latest accumulation has a similar feel.
Analysts believe that closing above $0.23 could confirm a bullish reversal, shifting sentiment firmly in favor of buyers. From there, the momentum could build rapidly, especially if whale wallets continue to expand. For now, the market’s attention stays locked on these large holders. Their decisions can lift prices to new highs or send them downward in retreat. Each whale purchase sends shock waves throughout the trading community bringing in retail traders and momentum traders.
Whether or not this rally continues or fizzles out depends on sustained demand, confidence from the market, and a willingness of buyers to break through heavy resistance.One thing is for sure—whales have acted, and the market is looking on. In a game where timing can be everything, their latest play may be the spark that drives Dogecoin’s next big chapter.
