Dogecoin (DOGE) Whales Accumulate 1 Billion DOGE Amid Critical Support Formation

Geopolitical tensions and evolving trade policies continue to influence cryptocurrency markets, with Dogecoin showing resilience amid broader economic uncertainty.

Despite macroeconomic headwinds, DOGE has maintained support above key moving averages while forming a potential bull flag pattern that could target $0.35 if validated by continued buying pressure.

Technical Analysis Highlights

• DOGE experienced significant volatility with a 4.3% range (0.211-0.220) over the past 24 hours, forming a key support zone around 0.212 validated by high volume rebounds at 13:00 and 22:00.
• The price action reveals a bullish recovery pattern from the 16:00 low, with resistance emerging at 0.217-0.220.
• The 20:00 candle's strong volume surge above the 24-hour average confirms renewed buying interest, suggesting potential upward momentum if DOGE can maintain its position above the established support level.
• In the past hour, DOGE has demonstrated significant bullish momentum, climbing from 0.215 to 0.216 with notable volume spikes at 01:17, 01:21, and 01:54-01:55.
• The price established a strong support zone around 0.215 during the early minutes, followed by a decisive breakout at 01:16-01:17 where volume surged over 8 million.
• The uptrend continued with higher lows forming a clear ascending pattern, culminating in a new resistance test at 0.216-0.217 range.
• The final minutes saw particularly heavy trading activity with volumes exceeding 7 million at 02:01-02:02, confirming strong buyer interest and suggesting potential for further upside movement.

External References

• "Dogecoin Eyes $0.35 as Whale Accumulation Signals Bull Flag Breakout", The Crypto Basic, published May 16, 2025.
• "Dogecoin Hovers at $0.22 Following Weeks of Gains, Analysts Share Mixed Outlooks", NewsBTC, published May 17, 2025.