Dogecoin Makes a Big Move! Whale Scoops Up 138 Million DOGE, Is History Repeating Itself to Push Towards $1?

Recently, significant movements have been observed in the Dogecoin market: large investors ("whales") have been buying heavily during the price pullback, accumulating approximately 138 million DOGE in a single day. This activity has strengthened market expectations that Dogecoin's price may be bottoming out and rebounding.

Although the meme coin experienced a price correction over the past week, the whales' buying-on-the-dip behavior suggests that some institutions or seasoned investors are betting that it is nearing a阶段性 (phase) bottom. Anonymous analyst Tartigrade pointed out that the current market structure may隐藏 (hide) undervalued bullish opportunities.

From a technical perspective, the sharp price drop in October caused DOGE to retest the key Fibonacci level of the $0.109-$0.272 range. As the long-term support near $0.15 is tested again, the market structure is highly similar to the scenario before the start of the 2024 bull run, and the volatility is even more significant. If historical trends repeat, Dogecoin might still be in the early stages of the main upward wave of this cycle.

On-chain data also provides support. Glassnode statistics show that the percentage of circulating DOGE supply currently in profit has declined, and the 7-day moving average indicates that the number of profitable addresses is lower than at previous cycle highs.

This pattern often appears during market consolidation phases, suggesting that if demand recovers, the price has room to rise.

Analysts note that if DOGE can maintain support above $0.15, the descending triangle pattern that has persisted for nearly a year could gradually transform into upward momentum.

Momentum indicators are also sending positive signals: the RSI formed multiple bullish divergences during the price decline, suggesting that selling pressure is gradually weakening; although the MACD showed a death cross, the power of sellers seems to have衰减 (decayed/weakened), and a trend reversal may be imminent.

Key resistance levels are located near $0.18 (a converted historical support level) and around $0.22. If effective breakthroughs are achieved subsequently, the technical pattern target range could reach up to around $0.50, representing a potential increase of approximately 310% from the current level. If the strength continues in the medium to long term, it might even challenge the $1 mark, corresponding to a gain of about 710%.

The macro environment may also provide a tailwind. Market expectations suggest the Federal Reserve might turn to quantitative easing policy around 2026. If this materializes, increased liquidity could further boost risk asset appetite, creating favorable conditions for the cryptocurrency market, including Dogecoin.