$DOGE $BTC #Dogecoin‬⁩ Dogecoin (DOGE) Price Jumps 8% as Whale Buying Signals Bullish Breakout

August 8, 2025

Dogecoin (DOGE) rose 8.4% in the 24 hours ending August 8, climbing from $0.20 to $0.22 in a two-phase rally.

During this period, the price saw about 9.5% volatility, moving within a $0.021 range. According to CoinDesk analysis, a new resistance zone has formed between $0.222 and $0.224, while strong support sits at $0.220. Analysts suggest the price may consolidate before making its next decisive move.

A closer look shows two major breakout waves driving the gains:

First wave: Around 10 a.m., price surged to $0.213.

Second wave: Between 7 p.m. and 10 p.m., price reached $0.223.

During this time, whale investors — large-scale holders — accumulated over 1 billion DOGE in the past 48 hours, boosting institutional confidence. Analysts have pointed to potential upside targets of $0.34 and $0.50.

Technical indicators reveal that alongside price gains, volatility also spiked. Trading volume exceeded 1 billion during the breakouts, far above the average of 378 million.

The Relative Strength Index (RSI) is nearing historic breakout levels, suggesting a rally potential of up to 70%. Additionally, an important inverse head-and-shoulders pattern has emerged, with liquidation clusters near $0.21. The price is showing clockwise consolidation signs within a tight $0.2208–$0.2223 range, while volume is declining.

Traders are now watching to see whether whale buying will trigger a short squeeze above $0.223 and if DOGE can break the $0.224 resistance to target $0.25. The impact of the overbought RSI condition and broader memecoin market trends could also influence DOGE’s momentum.