Dogecoin Whales Surge 112% – Why Hasn’t the Price Skyrocketed Yet?

Dogecoin’s whale activity just spiked by a staggering 112%—so where’s the breakout?

Big moves, no momentum. The memecoin’s heavyweight investors are loading up, but the price remains stuck in neutral. Are they accumulating for a moonshot, or is this another case of 'buy the rumor, sell the news'?

Market watchers are split. Some see this as the calm before a Doge storm, while others suspect whales are just playing hot potato with retail traders. After all, in crypto, even a 'sure thing' can vanish faster than a Wall Street bonus.

One thing’s clear: When whales move this hard, volatility usually follows. Buckle up.

Whales make waves as netflow surges

According to Dogecoin’s Netflow per IntoTheBlock, large holders jumped 111.97% in the past week.

Large holders — wallets that control more than 0.1% of DOGE’s circulating supply — have significantly increased their accumulation.

Source: IntoTheBlock

This sharp reversal marked a renewed appetite for Doge among heavyweight investors, despite its modest price structure.

In fact, this Netflow pivot echoed trends seen during earlier accumulation phases in 2021.

Futures traders turn bullish

Moving to the Futures market, Funding Rates stayed positive, with DOGE’s OI-Weighted Funding Rate hovering NEAR 0.0086% and peaking around 0.01% on the 6th of July.

Source: CoinGlass

This shows that traders are betting on a price increase despite DOGE’s relatively muted response to the broader market rally.

In short, while the spot price remains cautious, the derivatives market is still leaning heavily toward upside expectations.

Momentum builds, but bulls need better

Dogecoin is showing early signs of recovery, with its price climbing 5% to $0.172 at press time.

The RSI was at 51.04, slightly above neutral territory, suggesting mild bullish momentum but no clear trend dominance. Meanwhile, the OBV has edged up to 46.3 billion, hinting at improving but cautious buying interest.

Source: TradingView

While recent green candles show price resilience, DOGE still needs a decisive MOVE above the $0.18 resistance zone to confirm a bullish breakout.

Overall, price action is slowly aligning with whale and derivatives optimism, but a stronger push is still needed.