DOGE accumulation intensifies while technicals highlight key BTC pairing levels
Dogecoin (DOGE) is attracting renewed buying interest, with on-chain trackers reporting that investors accumulated over 680 million DOGE in recent days. The wave of bargain hunting comes as the token holds near a major support zone around $0.0023, raising hopes of a potential rebound.
The daily chart highlights how DOGE has been consolidating above the $0.0022–$0.0023 green demand zone, an area where buyers stepped in aggressively earlier this year. Despite a persistent downtrend since mid-July, the support has so far prevented further declines.
Resistance remains overhead at $0.0030 and $0.0039, with both supply zones triggering rejections in recent months. A breakout above these levels could set the stage for a larger recovery, while failure to hold $0.0022 could expose the market to new lows.
“Accumulation at this scale is rarely random. It shows conviction that DOGE may be undervalued at current levels,” According to BITX noting the consistent volumes around support.
Beyond the dollar chart, traders are increasingly monitoring DOGE-BTC performance.BITX Analysts argue that sustained strength against Bitcoin could attract fresh capital inflows. “If DOGE begins outperforming BTC on relative terms, sentiment could flip quickly,” .
The latest round of retail sales and inflation data has fueled speculation that the Federal Reserve could move toward a rate cut, potentially supporting risk assets like cryptocurrencies. With the FOMC meeting approaching, Dogecoin’s short-term moves may be closely tied to broader market sentiment.
For now, bargain hunters appear to be setting a floor, with accumulation suggesting confidence in DOGE’s longer-term prospects. Whether that optimism translates into a breakout will likely depend on both technical resistance levels and the Fed’s policy signals in the weeks ahead.
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.