Dogecoin Surges 9% as Whales Gobble Up $161M DOGE - Is $0.22 the Next Support Floor?

Dogecoin's price rockets upward as major players make massive moves.

Whale Watching Intensifies

Deep-pocketed investors just snapped up $161 million worth of DOGE in a single accumulation spree. That kind of volume doesn't happen by accident—it signals big bets on bigger gains.

Technical Thresholds in Play

All eyes now turn to the $0.22 support level. Hold that line, and the meme coin could launch toward higher highs. Break it, and well... even crypto's favorite joke token isn't immune to gravity.

Because nothing says 'sound investment strategy' like following the crowd that treats digital assets like a high-stakes game of musical chairs.

Dogecoin, the largest meme coin, posted a strong 9.48% daily gain, climbing to $0.2381 with a market cap of $35.81 billion. The move comes amid a sharp increase in trading volume, which surged over 160% to $5.3 billion. Also, because of a mix of whale accumulation, market rotation into altcoins, and technical strength, despite lingering concerns over Dogecoin’s security model. Curious about where Dogecoin price could stroll next? Join me as I decode the same.

Dogecoin Price Analysis

DOGE price has broken decisively above its 30-day SMA at $0.222 and cleared the Fibonacci 23.6% retracement level at $0.239. Over the past 24 hours, price ranged between $0.2088 and $0.2417, with buyers stepping in aggressively. This was after whales scooped up 680 million DOGE, worth about $161 million, between August 20 and 21. This large-scale accumulation, now accounting for nearly half the circulating supply, reduced selling pressure from retail traders and signaled strong institutional confidence.

From a technical perspective, the $0.22 level now serves as immediate support. If Doge holds above this zone, it may retest $0.26, where a previous resistance zone lies. A sustained move above $0.26 could open the door toward $0.30 in a high-volume breakout scenario. However, failure to maintain $0.22 could trigger profit-taking, pulling prices back toward $0.21 or even $0.203.

Meanwhile, developers are exploring integrating zero-knowledge proofs, a proposal aimed at enabling DeFi applications on Dogecoin. If implemented, this could give DOGE real utility beyond payments, potentially supporting the long-term DOGE price.

FAQs

Whale accumulation of 680M DOGE, reduced retail selling pressure, and increased trading volume have pushed prices higher.

The support at $0.22 and resistance at $0.26 are critical. A break above $0.26 could send dogecoin price toward $0.30.