Dogecoin Whales Amass $128M in Holdings as Market Sentiment Turns Bullish
Significant accumulation by large Dogecoin (DOGE) holders, often referred to as ’whales,’ has sparked bullish predictions across the crypto market. Over $128 million worth of DOGE has been purchased in recent transactions, signaling strong confidence among major investors. Analysts suggest this could indicate an upcoming price surge, as whale activity often precedes market movements. The memecoin, which initially started as a joke, continues to demonstrate resilience and investor interest despite broader market volatility. Market watchers are now closely monitoring DOGE’s price action for potential breakout patterns following this accumulation phase.
DOGE OI-Weighted Funding Rate | Source: Coinglass
However, open interest itself has remained mostly flat since early February, indicating that traders are still hesitant to commit to large directional bets.
DOGE Price Outlook
On the daily Doge price chart, the MACD leans bearish at the moment, with the signal line still hovering above the MACD line. However, analysts argue that a bullish crossover, if backed by volume, could quickly flip the narrative in favor of the bulls.
DOGE Daily Price Chart | Source: Trading View
Meanwhile, the RSI is currently at 45, indicating mild bearish pressure without being in oversold territory. A further dip in RSI could open the door for more losses, while an upward move may trigger a recovery rally.
DOGE Daily Price Chart | Source: Trading View
The Bollinger Bands are widening, a signal of heightened volatility. The price is approaching the mid band (20-day SMA) at $0.16. If the coin holds this level, it could see a short-term rally to the upper band (around $0.18925).
A breakout above the upper band could send the coin toward new local highs. On the other hand, the lower band sits around $0.148, and failure to hold this level might trigger deeper pullbacks.
On April 13, popular chartist Javon Marks suggested that DOGE is aligning with a historical pattern that previously led to a multi-hundred percent rally.
$DOGE (Dogecoin) looking ready to put on yet another magical bullish performance to NEW ALL TIME HIGHS!
This can result in an AT-LEAST +200% to +330% move above $0.73 ⤴️… pic.twitter.com/tCRCtPzrGq
— JAVON⚡️MARKS (@JavonTM1) April 13, 2025
On the bi-weekly chart, he predicts a potential increase of at least 200–330% that could push DOGE beyond its previous all-time high of $0.73.
nextDogecoin Whales Accumulate Over $128M, Bullish Predictions Emerge
