Key Takeaways
Despite a 6% price drop, Dogecoin remains intact with a bullish double-bottom pattern, says an expert, while eyeing a target of $0.30.
Over the past week, whales have scooped up more than 200 billion Dogecoin [DOGE] tokens, signaling strong confidence despite recent volatility triggered by the U.S. PPI report.
This volatility in the memecoin has persisted for more than seven days, with the price hovering between the $0.22 and $0.247 range.
At press time, Dogecoin was trading at $0.23, down 6% over the past 24 hours.
Despite the price pressure, traders and investors have shown strong participation, leading to a 20% surge in trading volume.
Whales add 200 billion DOGE
Recently, a crypto expert revealed that Dogecoin whales purchased over 200 billion DOGE tokens in the past week, during which the price displayed sideways momentum.
Source: X (Formerly Twitter)
This substantial accumulation by whales has made the Dogecoin price prediction appear bullish, hinting at a potential breakout.
Apart from this accumulation, a well-followed crypto expert shared a post on X (formerly Twitter), noting that despite the recent dip, Dogecoin still remains intact within a bullish double-bottom pattern.
Dogecoin price prediction
Based on AMBCrypto’s technical analysis, Dogecoin’s price prediction seems to depend on the $0.22 and $0.247 levels.
On the daily chart, these levels represent the consolidation boundaries that the memecoin has been following for more than a week.
Source: TradingView
If the price gains momentum and breaches the upper boundary, closing a daily candle above $0.247, it could trigger a strong 21% rally, pushing the price toward the $0.30 level.
On the other hand, if momentum fails and Dogecoin falls below $0.22, it could lead to an 11% drop, sending the price down to $0.19.
At press time, the Supertrend indicator was flashing a bearish signal, having turned red and hovering above the memecoin’s price.
Traders’ strong bullish outlook
Amid the current bullish market sentiment, traders are heavily favoring long positions, signaling strong support for an upward move.
According to on-chain analytics platform CoinGlass, DOGE faces key liquidation levels at $0.2213 and $0.2354.
At these price points, traders have built up $48.88 million in long positions compared to $26 million in shorts—highlighting a significant tilt toward bullish leverage.
This imbalance suggests that bulls are firmly in control, and Dogecoin may be poised to resume its upward momentum.
