DOGE Shows Resilience at $0.17 Amid Whale Accumulation, Eyes $0.36 Breakout

Dogecoin (DOGE) has demonstrated notable stability around the $0.17 mark following a recent 4.6% decline, with the $0.166–$0.167 range emerging as a strong support zone. This consolidation phase coincides with a significant surge in accumulation by large wallet holders, whose activity has spiked by 112% over the past week. Such aggressive buying from whales suggests growing institutional confidence in DOGE, even as retail investors remain cautious. The cryptocurrency now faces its next test at the $0.18 resistance level, with further hurdles at $0.21 and the critical $0.36 threshold. A successful breakout above these levels could validate a multi-year cup-and-handle pattern, potentially signaling the start of a substantial upward trend. As of July 9, 2025, market watchers are closely monitoring these developments, which could redefine DOGE's position in the crypto market.

Dogecoin Stabilizes Near $0.17 as Whale Accumulation Surges

Dogecoin has found support NEAR $0.17 after a 4.6% pullback, with the $0.166–$0.167 zone acting as a critical floor. Large wallet holders are accumulating DOGE at a 112% increased rate over the past week, signaling institutional interest despite retail hesitation.

The cryptocurrency faces immediate resistance at $0.18, with higher barriers at $0.21 and $0.36. A breakout could confirm a multi-year cup-and-handle pattern with a potential $0.75 target. Elon Musk's political venture, The American Party—rumored to incorporate blockchain finance—has reignited speculative interest in the meme coin.

Macro conditions show tentative improvement as the Federal Reserve signals potential rate cuts starting July. The U.S. tariff pause extension to August 1 has provided temporary relief to risk assets. Technical charts suggest Doge is forming a bullish triangle pattern, with volume profiles indicating accumulation at current levels.

Will DOGE Price Hit $0.22 in the Short Term?

Dogecoin's price shows signs of steady recovery, aligning with the broader altcoin market uptrend in early July. The meme coin has gained 8% over the past week and 18% in the last 15 days, now approaching a critical resistance level. A breakout could signal significant upward momentum.

High-profile endorsements, particularly from Elon Musk, continue to fuel Dogecoin's relevance. The coincidental acronym overlap with the U.S. government's Department of Government Efficiencies (D.O.G.E) has added to its cultural cachet.

Market speculation intensifies around potential ETF approvals, with Grayscale, Bitwise, and 21Shares having filed applications. The SEC's decision deadline looms in October 2025, creating a tangible catalyst for the asset. Bloomberg analysts suggest growing institutional recognition of Dogecoin as a commodity could improve approval odds.

Will Dogecoin Price Surge to $3 After Completing This Bullish Triangle?

Dogecoin's price trajectory is drawing attention as it approaches critical resistance levels. On-chain data reveals significant supply barriers at $0.18, $0.21, and $0.36—price points where over 20% of DOGE holders last transacted. These levels could act as profit-taking zones, creating headwinds for further upside.

A symmetrical triangle pattern on monthly charts suggests potential for a parabolic breakout, mirroring historical rallies. Analyst Ali Martinez highlights concentrated supply clusters at key thresholds, with 8.9% of DOGE last moved near $0.18 and 7.2% around $0.21. A decisive break above $0.21 with strong volume could signal a path toward $3, though market participants remain cautious given the meme coin's volatility.