Dogecoin (DOGE) Surges Toward $0.28 as Whales Gobble Up Supply—Is This the Meme Coin’s Next Breakout?

Dogecoin’s price action just got a lot more interesting. After a wave of massive whale accumulation, DOGE is eyeing the $0.28 mark—a move that could reignite the meme coin’s hype cycle.

Whales are betting big, but will retail traders follow? The crypto market’s favorite joke asset is once again flirting with legitimacy, thanks to deep-pocketed investors who apparently haven’t learned their lesson from the last meme coin mania.

Here’s the kicker: Dogecoin’s latest pump isn’t driven by Elon Musk tweets or Reddit memes—this time, it’s cold, hard whale activity. Whether that’s a sign of maturity or just another round of speculative gambling depends on who you ask.

One thing’s certain: in crypto, even the 'jokes' have nine lives.

• Dogecoin (DOGE) jumps 18% to $0.2519 as whales accumulate ~2 billion coins, signaling strong bullish interest.
• DOGE faces resistance near $0.26, with potential to target $0.27–$0.28 if buying momentum continues.
• Trading volume rises slightly to $9.98B, while open interest drops 1.23%, showing balanced market activity.

Dogecoin (DOGE) surges on whale activity, moving up from $0.2131 to $0.2519 and challenging the $0.26 resistance level. At the time of writing, Dogecoin (DOGE) is trading at $0.2376, with a 24-hour trading volume of $8.97 billion and a market capitalization of $35.81 billion. The token experienced a modest decline of -3.68% over the last 24 hours.

Major Whales Boost Dogecoin Holdings

Crypto analyst Ali Martinez highlighted that the whales have been aggressively stocking up on Doge over the past week, picking up approximately 2 billion coins. This substantial accumulation indicates rising interest among major market players.

2 billion dogecoin $DOGE scooped up by whales in the last 7 days. pic.twitter.com/R6EbOYZnGD

Dogecoin Gains 18% Amid Strong Bull Run

Furthermore, analyst BitGuru noted that Dogecoin has risen from $0.2131 to $0.2519 recently, representing a remarkable 18.19% increase. This surge reflects strong buying pressure from bulls at key levels, leading to higher prices.

In the short term, DOGE faces resistance around the $0.26 region. If the bull run continues, the token may target the $0.27–$0.28 range. Market observers will be monitoring the extent to which this push can lead to further upward movement.

Dogecoin Market Sees Mixed Signals in Derivatives Activity

The trading volume of DOGE increased marginally by 0.73% to $9.98B. Market participation remains steady, with investors demonstrating modest interest despite recent price movements. Liquidity remains healthy, which keeps the market active.

However, open interest dropped by 1.23% to $3.64B, reflecting a reduction in active derivative positions. The small decline may indicate reduced speculative momentum, with some market participants closing rather than opening new contracts.

Based on the OI-weighted data, the funding rate was 0.0204%, indicating a relatively balanced derivatives market. This implies that long and short positions are fairly equal, with no significant bias from either side.

Overall, the trend in funding suggests that DOGE’s movement faces cautious trader sentiment. This balanced formation may lead to gradual price fluctuations until a drastic change in market conditions triggers new momentum.