With a significant increase in whale accumulation, the price of Dogecoin (DOGE) has surged dramatically. In the past 48 hours, major holders have accumulated over 1.2 billion DOGE tokens, driving an increase in on-chain trading activity and a new wave of bullish momentum. As DOGE recovers the key technical area around $0.21, the question arises: Will this whale-driven momentum push Dogecoin to the $0.25 threshold? Can DOGE maintain the breakout, or is this just a brief accumulation phase before profit-taking?

Whale activity indicates strategic accumulation

The recent price surge of Dogecoin seems to be largely influenced by a new wave of whale accumulation. On-chain data shows that wallets holding between 10 million to 100 million Dogecoins have accumulated over 2.3 billion in just 72 hours. This massive inflow coincides with Dogecoin's price rising from $0.197 to over $0.214, indicating that large holders expect a potential breakout in Dogecoin and are strategically positioning themselves. Historically, this accumulation pattern by whales typically precedes strong bullish momentum in Dogecoin's price.

Dog Whales

Additionally, trading volume has far exceeded the daily average, with derivatives data showing a 12.7% increase in open contracts, indicating enhanced market confidence. This suggests that institutional investors and high-net-worth individuals are actively building positions. If these wallets continue to absorb supply and Dogecoin's price remains above the support level of $0.212 to $0.218, there are strong technical indications in the short term that Dogecoin could rebound to the resistance level of $0.225 to $0.25.

Dogecoin Price Prediction: Will it reach $0.25 this month?

After a significant pullback in the first half of the month, Dogecoin's price has been steadily rising since the beginning of this month. Bulls seem to dominate this upward trend, maintaining a series of higher highs and lows, indicating an enhancement in bullish momentum. Currently, buying pressure is increasing, suggesting that the token is about to test a critical resistance area.

Dogecoin price

The recent breakout has caused the price to surpass the Gaussian channel, which was previously bearish. Therefore, indicators may turn bullish at any time, potentially confirming the occurrence of a bullish reversal. On the other hand, the CMF shows a significant increase, indicating that capital inflow will rise substantially. After being blocked multiple times in the $0.2430 to $0.2473 range, the top memecoin is expected to re-enter this range.

However, bulls will need to demonstrate stronger strength in the future and help Dogecoin's price break through key price ranges. This way, the token may have a chance to surpass the bearish resistance level and reach $0.25, thereby hitting higher targets.