Dogecoin Holds Steady Near $0.26 as Whales Offload $40M Ahead of Possible Upswing
Dogecoin is currently consolidating just under the $0.26 resistance after slipping 18% since peaking on May 10, according to recent data from CoinDesk Research. Meanwhile, whale investors have offloaded around $40 million worth of DOGE, unloading about 170 million tokens in the past few days.
This selling activity may be positioning the market for a fresh breakout. Technical indicators reveal a bullish flag formation, suggesting that the recent dip is part of a healthy consolidation phase rather than a reversal.
Analysts anticipate that Dogecoin could break higher within the next week, potentially rallying toward $0.35 to $0.45 — gains of roughly 52% to 114% from current prices.
Key Technical Points:
- DOGE advanced from $0.222 to $0.228 within an ascending channel, supported near $0.218–$0.219.
- Profit-taking capped gains around the $0.233–$0.234 zone despite strong volume.
- A sharp pullback late in trading hints at a short pause, but higher lows suggest bullish momentum is intact.
- Volatility caused a 2.57% drop from $0.233 down to $0.227.
- Support between $0.227 and $0.228 was tested multiple times, indicating buyer interest.
The combination of whale activity and technical setups points to a promising outlook for Dogecoin in the near term.
