Dogecoin is showing strength once again, consolidating around $0.24 after a strong breakout driven by whales. With optimistic technical indicators and growing community excitement, traders are wondering if this is a sign of the return of a meme coin.

Whale Activity Ignites DOGE Wave

On August 11, a whale pumped about $200 million into Dogecoin, pushing the price from $0.23 to $0.24 in just one day. This buying wave followed a previous accumulation by the whale that raised the DOGE price to $0.23 on August 9 before sellers took profits. Such moves bolster confidence, maintain healthy liquidity, and often set the stage for sustainable price increases.

DOGE is currently forming a cup and handle pattern on the 4-hour chart - a bullish pattern, if confirmed with a close above $0.235 on strong trading volume, could push the price to $0.25–$0.27. Support remains solid between $0.215 and $0.20, while a decisive breakout above $0.25 could pave the way for a rise to $0.30 or higher. The RSI indicator is at 58, indicating bullish potential before hitting overbought territory.

Benefits of Organizations Meeting Community Power

Aside from its meme coin origins, Dogecoin continues to witness increasing legitimacy. The Grayscale Dogecoin Trust is adding DOGE to its managed investment portfolio, while support from figures like Elon Musk keeps public attention high. The 'Doge Army' remains as active as ever, driving growth on social media and engaging retail investors.

Is the Revival of Meme Coin About to Happen?

Although Dogecoin is leading, its revival could reignite interest across the entire meme coin sector, which is known for strong rallies during bull market phases. If DOGE convincingly surpasses $0.25, it could trigger speculative capital into similar tokens - signaling the potential return of meme coins by the end of 2025.

For traders and investors, the combination of whale accumulation, bullish chart patterns, and increasing institutional acceptance makes Dogecoin one of the cryptocurrencies to closely monitor in the coming weeks.

Conclusion

The breakout of Dogecoin could spark a broader resurgence of the meme coin, attracting both individual investors and the curiosity of institutions. While DOGE struggles with resistance near $0.25, seasoned investors are on the lookout for the next strong price move.