Massive Dogecoin Accumulation Sparks Speculation of Imminent Price Surge

Dogecoin ($DOGE) traded at $0.1118 at the time of writing, with 24-hour trading volume at $1.77 billion, according to data from crypto.news.

$DOGE rose 4% in the past day and gained 14% over the past week.The move pushed Dogecoin above the key $0.109 level during early Asia trading.

Bitcoin also moved above $80,000 during the same period, helping lift broader crypto market sentiment.

Whale buying draws market attention

Crypto analyst Ali Martinez said whales accumulated 160 million $DOGE in the last 96 hours. At current prices, the purchase was worth about $18 million.

The buying added to recent whale activity around Dogecoin. As we reported last month, Martinez also said large holders bought more than $330 million worth of $DOGE during a period of tight price movement.

$DOGE traders watch support and resistance

The latest $DOGE move came in a sharp volume burst from around $0.1075 to $0.1119. That type of move often shows concentrated buying rather than slow retail activity.

Traders are now watching whether $0.109 can hold as near-term support. If $DOGE keeps that level, the next resistance sits near $0.114. A drop below $0.109 could show that the breakout has failed.

Meanwhile, on May 1, Santiment data showed a rise in large Dogecoin transactions. The network recorded 739 transfers above $100,000 in one day.

Large holders now control 108.52 billion $DOGE, a record level. Santiment said, “the memecoin’s +14% price rise over the past 10 days is very likely not just a coincidence.”

Dogecoin’s market cap stood at $17.21 billion, based on a circulating supply of 150 billion $DOGE. For now, whale buying, higher volume, and the $0.109 support level remain the main areas traders are watching.