Dogecoin Shows Strength with Volume-Led Breakout and Whale Accumulation
Dogecoin (DOGE) saw a notable price increase of over 7% in the last 24 hours, rising from $0.24 to $0.25. This upward move was driven by significant whale purchases totaling more than $200 million and a sharp increase in derivatives activity. The memecoin’s breakout above the $0.25 resistance level led to increased trading volumes and pushed futures open interest above $3 billion.
Technical Signals Point to Further Gains
Technical analysis suggests that DOGE could continue to rise toward the $0.27 level. The breakout came from a bullish flag pattern, with $0.25 now acting as a new support after multiple tests. Resistance lies at $0.26, and a clean move above this level may open the path to $0.27.
Volume patterns during the breakout indicate strong accumulation rather than speculative trading. Additionally, futures open interest and funding rates suggest traders are maintaining long positions, signaling confidence in near-term price growth.
Key Levels and Trader Focus
Traders are closely watching whether the $0.25 support level holds during any pullbacks. A sustained break above $0.26 is needed to confirm the continuation toward $0.27. Whale wallet activity remains important to monitor, as ongoing accumulation could fuel further price increases. Funding rate spikes may warn of crowded long positions, which can sometimes lead to quick corrections.
Between August 13 and 14, DOGE traded mostly between $0.24 and $0.26, showing about 9% intraday volatility. The breakout above $0.25 happened in the evening after a consolidation period. Trading volume surged during the breakout, with a peak of 29.2 million coins traded in a single minute. The price stabilized around $0.25 after a brief pullback, confirming this level as key support.
