After a sharp drop this week, Dogecoin (DOGE) is finding support just above a critical range as whales accumulate 130 million tokens in the past day.
By Parth Dubey
Editor Hamza Tariq
Updated
2 mins read
Dogecoin DOGE $0.22 24h volatility: 3.8% Market cap: $33.45 B Vol. 24h: $2.49 B , the crypto market’s original meme token, is back in the spotlight after shedding 5.46% in the past 24 hours and crashing over 14% in the past week, currently trading at $0.2283, down nearly 69% from its all-time high.
July marked a key turning point for Dogecoin. After months of stagnation between $0.17 and $0.21, DOGE rallied through the $0.25–$0.26 resistance zone, coinciding with a major announcement: Bit Origin Ltd raised $500 million to build out a Dogecoin treasury.
DOGE Explodes 7% to $0.28 After Massive Bit Origin Buy – Analyst Reveals Next Target
Dogecoin rallied 7% to $0.28 following Bit Origin's disclosure of purchasing 40.5 million DOGE tokens at $0.2466 average cost as part of its new Treasury Strategy backe…https://t.co/0sCFHwRBol pic.twitter.com/AGIt9TzJL4— Coinspeaker (@coinspeaker) July 21, 2025
Corporate capital is now being funneled into DOGE infrastructure, signaling growing institutional curiosity. According to crypto analyst Ali Martinez, whales have bought the DOGE dip, scooping up over 130 million DOGE in just 24 hours.
Whales bought the dip! They have accumulated 130 million Dogecoin $DOGE in the last 24 hours. pic.twitter.com/G3h9dkBFJN
— Ali (@ali_charts) July 29, 2025
The massive purchases follow a 38% increase in the odds of a spot Dogecoin ETF approval in 2025, as per decentralized betting platform Polymarket.
The Dogecoin daily chart shows that DOGE is currently sitting just above a critical demand zone ($0.21–$0.23), which has now flipped into short-term support.
A rising trendline connecting a series of higher highs, acting as resistance, confirms the ascending triangle pattern. A break below this could lead to a retest of the $0.20 and possibly the $0.17 level, which has served as long-term support since March.
Also, the immediate resistance is $0.25–$0.26, a zone where investors saw a failed breakout earlier this month. Sustained momentum above this could open the doors to $0.33, followed by $0.40, making DOGE one of the best meme coins to buy.
The MACD has just made a bearish crossover, with the signal line flipping over the MACD line, indicating short-term downward momentum. Meanwhile, the BoP is neutral, showing neither buyers nor sellers hold a dominant edge.
On the other hand, the RSI is sitting at 54.42, indicating room to run either way. The Chaikin Money Flow (CMF) remains positive at +0.08, showing net inflows into DOGE.
Backed by whale accumulation, rising institutional curiosity, and a looming ETF narrative, DOGE now faces a pivotal test at $0.25.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
