Dogecoin Price Jumps 8% as Whales Accumulate Over 1 Billion Tokens

Dogecoin (DOGE) is once again in the spotlight after a powerful rally on Thursday pushed its price above $0.2250, marking an 8.4% gain in 24 hours. The surge, driven largely by whale accumulation and a spike in trading volume, has reignited bullish sentiment among traders, with many eyeing $0.30 as the next major target.

Whale Accumulation Sparks DOGE Momentum

Over the past 48 hours, whales have accumulated more than 1 billion DOGE, signaling a strong vote of confidence from institutional or large-scale investors. This massive buying spree coincided with DOGE breaking past key resistance levels of $0.2120 and $0.2150, sending it to a high of $0.224.

With trading volume exceeding $1 billion, more than triple its daily average, analysts are taking notice. The surge indicates genuine market interest and not just speculative hype, particularly as DOGE outpaced major altcoins like ETH and XRP in daily percentage gains.

Technical Indicators Suggest More Upside

Technical charts reveal a bullish structure for DOGE. A bullish trendline has formed with support at $0.2150, and the RSI remains above 50, confirming growing upward pressure. Meanwhile, an inverse head-and-shoulders pattern is emerging—often seen as a precursor to major breakouts in crypto markets.

Resistance now stands at $0.2250, followed by $0.2320 and $0.2420. A close above these levels could catapult DOGE to $0.250 and beyond, with $0.2780 seen as the next major milestone in a full rally scenario.

Cautious Optimism Amid Broader Altcoin Surge

Despite the bullish sentiment, DOGE’s trajectory still depends on maintaining momentum. A pullback to $0.2150 or $0.2100 remains a possibility if bullish pressure fades. However, strong community support, whale interest, and Dogecoin’s large market cap offer a buffer against short-term volatility.

Adding to the excitement, Dogecoin is benefitting from the broader altcoin-led rally, with Ethereum, Solana, and XRP also posting strong gains. The global crypto market cap has grown 3% to hit $3.76 trillion, aligning with a surge in investor appetite across both crypto and equity markets.

With sentiment shifting and technicals aligning, Dogecoin may be gearing up for its next leg higher. As accumulation builds and resistance weakens, the question now becomes: Is $0.30 just around the corner?