Dogecoin has seen renewed investor interest as whales accumulate 2 billion tokens in the past week amid Golden Cross formation.
By Parth Dubey
Editor Hamza Tariq
Updated
2 mins read
Dogecoin DOGE $0.24 24h volatility: 3.5% Market cap: $35.78 B Vol. 24h: $3.99 B has seen massive whale accumulation in the past week, purchasing 2 billion DOGE over the past seven days, worth around $500 million.
This increase in buying activity by large holders has led to a 17% surge in DOGE price during the same period.
At the time of writing, DOGE is trading at approximately $0.24, reflecting a 3% decline over the past 24 hours. However, analysts remain optimistic about the long-term trend.
Renowned market observer Ali Martinez pointed out that wallets holding 100 million to 1 billion DOGE are driving this optimism.
2 billion Dogecoin $DOGE scooped up by whales in the last 7 days. pic.twitter.com/R6EbOYZnGD
— Ali (@ali_charts) August 14, 2025
Recently, whales purchased 230 million DOGE in 24 hours, driving an 8% increase in price. In the past week, DOGE has added around $5.5 billion to its market cap, currently standing at $36.38 billion.
The recent buying frenzy coincides with the recent formation of a Golden Cross between the 50-day and 200-day exponential moving averages (EMA). This bullish signal marks the end of a five-month slow price period after March’s Death Cross.
DOGE Golden Cross formation in early August | Source: Trading View
Historically, such bullish crossovers often lead to extended rallies, as they reflect improving price structure. On the daily DOGE price chart, the RSI is currently suggesting a moderately bullish momentum without entering overbought territory.
This leaves room for further upside before hitting potential exhaustion levels. A decisive break above the $0.26 resistance could result in a rally to $0.30, with the next target near $0.32.
DOGE price chart with RSI and Bollinger Bands | Source: Trading View
DOGE price is moving towards the upper Bollinger Band, indicating potential for a breakout if buying pressure continues.
Meanwhile, the MACD has recently crossed into positive territory, with the MACD line above the signal line, hinting at strong bullish momentum. However, the histogram’s small size suggests the move is still in its early stages.
DOGE price chart with MACD | Source: Trading View
In case the top meme coin fails to hold the $0.22 support zone, traders may see a retest of $0.20, where buyers will need to defend to maintain the bullish outlook.
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.
