Dogecoin's current price is stabilizing around $0.23, and the short-term trend will gradually become clearer in the coming days. Whale accumulation behavior is intensifying, indicating that Dogecoin may soon experience a significant breakout.
Since early August, whales holding over 100 million DOGE have cumulatively increased their holdings by 680 million tokens, with 2 billion added just last week, valued at approximately $450 million, bringing the total whale holdings to the highest level since the end of 2024.
Whales are actively accumulating Dogecoin, with holdings reaching a multi-month high. Combined with the golden cross signal and a decrease in exchange supply, DOGE may welcome a critical bullish turning point.
$0.3 has become the key breakout area.
$0.3 is a key breakout area. The current breakout range for Dogecoin is between $0.238 and $0.25. If it decisively breaks $0.25, it may trigger the next round of increases. The overall market structure leans bullish, and after years of decline, Dogecoin may be on the verge of a significant rebound.
Dogecoin price is forming a symmetrical triangle pattern. This pattern is usually a continuation breakout pattern, and asset prices tend to break out in the direction of the initial trend.
Accordingly, Dogecoin may continue to rise after breaking its current pattern. Dogecoin is rebounding from an ascending support line, maintaining a bullish channel. After breaking the wedge and retesting the support, DOGE is currently in a consolidation phase, preparing to retest higher resistance levels. If the bullish trend continues, the price may rise to the $0.26 target area.
Furthermore, Dogecoin is expected to challenge the $0.3 mark, about a 30% increase from the current price. The target price level is calculated based on the width of the triangle's widest point added to the breakout point. However, investors should be cautious and wait for the price to close above the upper boundary of the triangle with at least two candlesticks to confirm a bullish breakout.
