Surge in Dogecoin purchases by whales, signaling an upcoming price increase?

Updated

May 2, 2025

Gambar Surge in Dogecoin purchases by whales, signaling an upcoming price increase?

Jakarta, Pintu News – Dogecoin is currently in a consolidation phase, with prices moving in the range of $0.16 to $0.20. Massive accumulation activity by Dogecoin whales shows an increase in confidence which could be an important indicator for further price movements. With the crypto market showing strengthening momentum, many are taking note of the potential surge in Dogecoin’s price.

Dogecoin Whale Accumulates 100 Million DOGEs

Whales have bought 100 million #Dogecoin $DOGE over the past week! pic.twitter.com/eKihSdKPXB
— Ali (@ali_charts) May 1, 2025

Recent data from Santiment shows that Dogecoin whales have accumulated around 100 million DOGE in the past week. This is a very positive signal, given that large purchases often precede price increases. In the context of the broader market, this activity adds optimism to Dogecoin’s potential recovery.

This accumulation activity comes amid market conditions that are starting to show signs of recovery. Bitcoin and other major cryptos are also testing key levels, which could provide more support for Dogecoin to move up. If this trend continues, there is a good chance that Dogecoin will experience a price surge.

Also Read: Ripple (XRP) Moves $1.1 Billion, What Happened?

Potential Outbreak of Dogecoin Resistance

Dogecoin is currently trading in the $0.17 to $0.18 range, approaching a critical resistance zone. If Dogecoin manages to break the $0.20 resistance, it could trigger a recovery rally. However, failure to break could keep Dogecoin in a consolidation phase or even push it back to the $0.15 zone.

Ali Martinez, a prominent analyst, has shared a chart showing heavy accumulation by whales. This adds to the evidence that there could be a price spike coming. With Bitcoin (BTC) stabilizing above $90,000 and other major altcoins starting to rebound, Dogecoin might follow in their footsteps.

Dogecoin Price Consolidation and Key Indicators

Dogecoin (DOGE) continues to stay above the $0.16 support, but is still struggling to reach higher peaks. To confirm the breakout and start a recovery rally, Dogecoin needs to reclaim the $0.22 level, which is a key resistance zone and in line with the 200-day exponential moving average (EMA).

If Dogecoin manages to reclaim this level, it will signal strength and could trigger an upward move towards $0.25 and higher. However, the lack of continuation and volume at current levels raises concerns. If $0.16 support fails to hold, downside risks will increase significantly.

Conclusion

With heavy accumulation by whales and favorable market indicators, Dogecoin’s future seems to be largely determined by its ability to break through key resistance. Investors and market watchers will continue to monitor this dynamic to capture opportunities that may arise from Dogecoin’s volatile price movements.

Also Read: Worldcoin: Innovating Digital Identity Verification Through Iris Scanning

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.