Dogecoin Whales Are Loading Up: Is Another DOGE Price Rally Imminent?

Dogecoin (DOGE) whales have continued to accumulate signaling a potential upcoming price rally.

Dogecoin (CRYPTO: DOGE) whales continued to accumulate, sparking speculation about another potential price rally.

A tweet from Ali (@ali_charts) showed that large holders scooped up another 590 million DOGE within 24 hours.

Whales bought another 590 million #Dogecoin $DOGE in the last 24 hours, as shown by data from @santimentfeed! pic.twitter.com/HlT3A79m2S

In his tweet, Santiment included a graphic that showed how these big investors grew their holdings between January 10 and January 17, driving DOGE’s price up from about $0.34 to over $0.42. This buying activity suggests that whale accumulation played a role in fueling the bullish trend.

However, after January 17, whale accumulation slowed, and Dogecoin’s price experienced increased volatility. By January 21, holdings stabilized at around 47.74 billion DOGE, but price action turned choppy.

The crypto briefly dipped below $0.32 before bouncing back to $0.379. The market remained in flux, with traders watching closely to see if whales continue buying or start distributing their holdings.

Another notable market observer, Crypto_Jobs TA & FA (@CryptoJobs3), weighed in on DOGE’s price action.

$DOGE i"m pretty bullish above 0.3500$ 📈

Strategy: DCA & enjoy the moon! 🚀

If it hold here around 0.3600$, prices could fly again soon #doge #meme pic.twitter.com/SjvsAD8fcB

He shared a chart highlighting key support and resistance levels, noting that if DOGE holds above $0.3600, prices could surge again. His analysis also pointed to a descending trendline acting as resistance, which needs to be broken for a bullish confirmation.

Technical indicators suggested mixed signals. The RSI hovered about 61.88, indicating bullish momentum, but not yet in overbought territory. The MACD histogram showed bullish divergence, hinting at a potential rally.

Meanwhile, DOGE’s price was near the lower Bollinger Band, suggesting oversold conditions and the possibility of a rebound.

See also: This Simple Formula Explains Why Kaspa (KAS) Is Still a ‘Strong Buy'

Dogecoin’s priceをめぐる注目ポイントに迫る。

DOGEは記事執筆時点で0.3606ドル前後で取引されている。CoinGeckoによると、過去1週間で2.40％上昇したが、過去1日で2.34％下落した。過去1日の出来高は41億ドル以上と高く、市場の関心の高さがうかがえる。

今後、Dogecoinの価格が上昇を続けるかどうかは、鯨の蓄積の継続に左右される可能性がある。大口保有者がポジションを維持または拡大すれば、再び強気な押し上げが発生する可能性がある。一方、ディストリビューションが拡大すれば、DOGEは上昇モメンタムを維持するのに苦労するかもしれない。

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