Dogecoin at a Crossroads: Will It Smash Through $0.24 or Face a Painful Pullback?

Dogecoin traders are holding their breath as the meme coin flirts with the $0.24 resistance level—a make-or-break moment that could dictate its next major move.

Bullish momentum has DOGE testing waters last seen during its 2021 hype cycle, but skeptics warn the ’people’s crypto’ might just be setting up for another classic pump-and-dump. Technicals show tightening Bollinger bands, while futures open interest suggests leveraged gamblers are all-in.

If DOGE clears $0.24, the path opens toward its all-time high near $0.73. Fail here, and prepare for a 30% haircut as overleveraged degens get liquidated—again. Either way, hedge funds will profit from your diamond hands.

Source: TradingView

However, what makes DOGE’s case stand out is the sharp uptick in whale activity and network growth.

Whales and network surge fuel the push

According to IntoTheBlock, Large Transaction Volume ROSE 41% during the same three-day stretch. This metric tracks transactions above $100,000, serving as a proxy for whale activity.

For the newbies, the metric tracks the amount of DOGE moved in transactions over $100,000 — often a proxy for whale activity.

Source: IntoTheBlock

At the same time, Network Activity jumped by 35%, indicating more Unique Addresses are interacting on the chain.

The two positive sentiments not only speculate the trading but also active accumulation and usage by institutional or large-scale players.

This rise in high-value movement and address activity hints at growing confidence behind DOGE’s rally.

The uptick in network usage further supports the idea that this is not just a pump but part of a larger projected momentum shift.

Source: IntoTheBlock

Can DOGE hit $0.3 next?

With DOGE held above $0.20, the next resistance sits at $0.24, followed by $0.29. Of course, if whale demand and network usage hold steady, $0.3 becomes a realistic short-term target.

Historically, DOGE rallies tend to MOVE quickly, often led by bursts of retail enthusiasm, then followed by large wallet acceleration.

While past performance does not guarantee future moves, the current setup does align with earlier breakout patterns.

Market sentiment stays cautiously bullish

With the recent surge evident from IntoTheBlock’s whale and network activity, recent data.

Still, market participants should be cautious. DOGE remains a highly volatile asset given the general volatility among the memecoin and its price swings are often sharp. 

That said, with the latest technical and on-chain signals lining up, the $0.3 mark could very well be in sight, sooner rather than later.