Dogecoin (DOGE) has just marked a spectacular breakout, as this cryptocurrency surged 29% in just three days, attracting strong attention from investors.
The strong upward momentum has helped DOGE break through the important psychological barrier at the $0.20 mark — a level that this memecoin has repeatedly failed to maintain since late March.
What makes this advance of Dogecoin special is not only the synchronized recovery of the altcoin market but also the noticeable rise of whale addresses and network growth — factors indicating that stronger internal momentum is forming around DOGE.
Daily DOGE/USDT chart | Source: tradingView
Whales and network growth drive the rally.
According to data from the analytics platform IntoTheBlock, large transaction volumes — transactions valued at $100,000 or more — have surged by 41% in just three days. This is an indicator often used to track the movements of 'whales' or large investment institutions in the market.
For new investors, this indicator reflects the level of circulation of DOGE in large-scale transactions — which often come from influential wallets or financial institutions.
Source: IntoTheBlock
At the same time, the level of activity on Dogecoin's blockchain network also recorded an impressive increase of 35%, evidenced by the rise in the number of unique wallet addresses executing transactions.
This positive indicator not only reflects short-term speculative activity but also suggests that a strong accumulation process may be underway from institutional investors or large-cap players.
The simultaneous increase in high-value transactions and on-chain interaction levels signals that confidence is returning to DOGE — further strengthening the view that this may not just be a temporary 'pump,' but the beginning of a more sustainable growth trend in the near future.
Source: IntoTheBlock
Could DOGE reach $0.3?
As DOGE continues to hold firmly above the $0.20 mark, the next resistance levels are at $0.24 and $0.29. If buying momentum from whales remains stable and network usage does not decline, the $0.30 threshold could definitely be conquered in the short term.
History has shown that each strong price increase of DOGE often starts from a wave of excitement among retail investors, followed by decisive buying from large wallets.
Although past performance cannot guarantee future results, the current market structure is reflecting many familiar characteristics that have appeared in previous breakout phases.
Market sentiment still leans slightly towards bullish.
The latest data from IntoTheBlock regarding whale activity and on-chain metrics further reinforces confidence in DOGE's bullish trend. However, investors must remain vigilant, as DOGE — like most other memecoins — always carries unpredictable volatility with a large amplitude.
Nevertheless, when technical signals and network data converge positively, the $0.3 threshold no longer seems too distant — it could even be achieved sooner than expected.
In the next 7 days, over $389 million in tokens will be unlocked from various major projects.
The price of DOGE can only reverse if…
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Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do thorough research before making decisions. We are not responsible for your investment decisions.