$200 Million Accumulation Offsets Late-Session Weakness
Dogecoin (DOGE) gained 5.6% in the latest session, buoyed by reports of a $200 million whale accumulation that has underpinned market sentiment despite a late-day selloff. While broader macro conditions remain uncertain, the memecoin’s higher lows and consistent whale bids are keeping its near-term structure constructive.
On the 4-hour chart, DOGE recently rebounded from a major demand zone near $0.00300 (orange band), a level that has historically drawn aggressive buying interest. The bounce was followed by a push into the $0.00350–$0.00355 range, just below the overhead supply zone near $0.00380–$0.00395 (red band).
“Whale accumulation at these levels is a strong signal that larger players are positioning for a potential upside breakout,”According to BITX market analyst. “If DOGE can sustain above $0.00345, the probability of retesting $0.00400 grows significantly.”
Earlier in June, DOGE had been trapped in a descending channel, registering lower highs and lower lows until a late-month breakout shifted momentum upward. However, the rally stalled in late July, leading to a pullback that tested — and successfully held — the $0.00300 support base.
The current green zone around $0.00340 now serves as a short-term support level. A decisive move above the red resistance band could pave the way for a run toward $0.00450, while a failure to hold $0.00340 may see price revisit the orange demand area.
“Market structure remains intact for bulls as long as price avoids breaking below the $0.00300 threshold,”
With on-chain whale accumulation, key support resilience, and gradual trend improvement, DOGE’s setup suggests buyers may attempt another breakout attempt in the coming sessions. Traders will be watching closely for a clean break above $0.00395 to confirm the next leg higher.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.