Recent data shows that Dogecoin (DOGE) whales have actively acquired 100 million DOGE during the previous week. This trend is increasing viewer interest in cryptocurrency. Cryptocurrency expert Ali Martinez presented his technical analysis of Dogecoin and whale wallet data in a graphical explanation. Completing the rounded bottom pattern alongside whale movements indicates DOGE has strong potential for a breakout in the approaching market period.
Whales Accumulate as Dogecoin Forms a Rounded Bottom
Ali Martinez of X documented that wallets identified as whales, which maintain between 1 million and 10 million DOGE, have grown substantially in their holdings. The Santiment visual information demonstrates wholesale accumulation since February 2025, which accelerated greatly in the last week of April 2025. The price movement of DOGE tracked the whale accumulation by rising from $0.145 to $0.176 during a bull market phase.
Whales have bought 100 million #Dogecoin $DOGE over the past week! pic.twitter.com/eKihSdKPXB
— Ali (@ali_charts) May 1, 2025
Whale buyout activity right now is enormously essential. Large investors who increase their cryptocurrency holdings typically start market price increases. With their buying activities, whales increase market demand while lowering supply levels and enhancing market optimism. When Dogecoin reaches completion of a rounded bottom pattern, the accumulation activity by whales leads to bullish price trends.
Technical Indicators Support Bullish Outlook
The data provided by Martinez reveals that the DOGE price rose significantly after April 21, when whales started buying. Dogecoin has reached and sustained above $0.17 due to its ongoing strength during its weeks of price consolidation. The main challenge lies in DOGE breaking through its resistance barriers, which are close to $0.18, to move beyond.
Chart 1- DOGE/USDT 4-hour, provided by BitGuru, published on X, April 28, 2025.
Long-lasting price downtrends tend to reverse when the market pattern forms a rounded bottom. When the volume rises throughout the completion process, a strong rally usually follows whale investment patterns. The current framework of DOGE indicates that market conditions are developing toward a substantial price increase.
As Martinez explained, combining volume metrics with on-chain analysis is essential to interpret patterns. The visual data and network activity indicate that DOGE has an upward tendency during this period. The ongoing accumulation pattern might drive DOGE to assess resistance barriers between $0.20 and higher price levels throughout the upcoming weeks.
Can DOGE Ride the Wave Again?
The Dogecoin price remains strongly impacted by what its community believes and how the public perceives the coin. DOGE maintains its strength because an atmosphere dominated by attention-seeking humour and viral celebrity promotion supports its operations. During recent months, the meme coin has shown a commitment to building legitimate utility by increasing its functionality within the crypto space.
Chart 2- DOGE/USD 1-day chart, provided by Emmaculate, published on X, May 1, 2025.
Ali Martinez’s analysis shows that the market behaviour toward Dogecoin indicates substantial transformation. Signs point toward sophisticated investors considering Dogecoin as a serious long-term investment in their portfolios as they decide on well-planned positions.
The cryptocurrency market demonstrates strong volatility across its operations. Market traders need to observe additional confirmations before investing in major positions. The bullish thesis gains more strength when whale accumulation continues while volume increases and the price remains above the $0.18 resistance for an extended time.
What’s Next: The DOGE Awakens?
Dogecoin experiences unpredictable price spikes, common occurrences in its market movement. Ali Martinez’s analysis of whale accumulation activity has created a textbook-rounded bottom and the potential for DOGE to break out. The wider crypto market seeks recovery, while its increasing support for Bitcoin leads to potential success for altcoins, including DOGE.
All investors, including professional traders and retail meme coin enthusiasts, need to monitor the DOGE price movement during the early days of May. Based on present market behaviours, the crypto world should prepare for another Dogecoin surprise.
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