Dogecoin Climbs 5.6% on Whale Accumulation, But Faces Resistance Near Session Highs
Dogecoin (DOGE) posted a 5.6% gain over the past day, buoyed by sustained large-holder demand and firm support levels, even as late-session profit-taking limited further upside.
Price Performance and Technical Breakdown
DOGE rose from $0.225 to $0.233 between August 12 and 13, trading within an 8.8% intraday range. Strong early-session support emerged at $0.220, backed by volume exceeding the 24-hour average of 387.7 million tokens.
A mid-session rally saw DOGE climb from $0.221 to $0.238, testing resistance before retreating in the final hour. A 1.3% decline from $0.235 to $0.232 closed out the day, with volume spikes of 11 million indicating measured selling pressure. Support reestablished at $0.232, although attempts to retest $0.235 stalled.
Whale Activity Signals Institutional Interest
On-chain data shows more than 1 billion DOGE—worth approximately $200 million—were accumulated in recent sessions. Large holders now control nearly half of the total supply, reinforcing bullish sentiment despite broader market uncertainty.
Key Technical Levels
- Support Zones:
- $0.220 (early-session base)
- $0.232 (final-hour rebound)
- Resistance Levels:
- $0.235 (intraday ceiling)
- $0.238 (session high)
- Notable Volume Events:
- Over 387.7M during morning recovery
- 11M on late-session dip
- Trend:
- Higher lows intact
- Structure remains constructive despite near-term selling
Market Context
DOGE’s upward momentum comes amid mixed macro sentiment across crypto markets. While broader risk appetite remains subdued, DOGE’s higher low structure and sustained whale inflows continue to provide bullish support.
Outlook
Traders are eyeing a potential breakout above $0.238, with upside targets in the $0.245–$0.250 range. A stable base between $0.232–$0.220 would strengthen continuation prospects. Whale accumulation trends remain a key driver for short-term price action.
