Dogecoin [DOGE] appears to be attracting the attention of crypto whales despite its price moving sideways over the past week.
At press time, DOGE was up 0.95% over the past 24 hours and was trading at $0.091. However, its trading volume during the same period has declined notably by 23% to $543 million, indicating a lack of market participation.
Whales add 500 DOGE amid market dip
Recently, a crypto expert shared a post on X noting that whales are buying DOGE. The post highlighted that since the 31st of March 2026, Dogecoin whales have quietly accumulated over 500 million DOGE. This occurred during a period when the price was stuck between the $0.087 and $0.101 levels.
The expert further noted that the DOGE daily chart is now showing a classic Bollinger Band Squeeze, which historically signals that a major volatility spike could be approaching.
However, considering the current momentum and trend, it appears there is intense competition between bulls and bears, as evident from the derivatives data on CoinGlass.
The latest DOGE exchange liquidation map reveals that $0.0895 on the downside and $0.0932 on the upside are two key liquidation levels. At these levels, intraday traders are over-leveraged, with $11.61 million in long positions and $9.21 million in short positions, indicating that bulls are currently dominating the asset.
Whereas, a modest 0.75% decline in Open Interest (OI) has been recorded as of writing. This suggests reduced trader participation and a slight cooling in market momentum.
DOGE price and key levels to watch
On the daily chart, DOGE appears to be forming a descending triangle pattern, with the price now moving within a narrowing range and poised for a breakout. However, the price has been moving sideways for over a week.
Moreover, an upside move for DOGE would likely occur only if the memecoin breaks out of this pattern and closes a daily candle above the $0.095 level. If DOGE achieves this, it could see a significant 26% price jump in the coming days.
However, a potential decline is also possible if DOGE breaks its key support at the $0.08821 level. If that happens, the price could see a sharp fall and may drop to the next support level at $0.055.
With the sideways momentum, the technical indicator Average Directional Index (ADX) has fallen to 13.69 at the time of writing, below the key threshold of 25. This indicates weak trend strength and a lack of clear directional momentum in the market.
Final Summary
- Whales have accumulated a massive 500 million Dogecoin, suggesting that the current price level may be an ideal buying opportunity.
- On the daily chart, if Dogecoin closes above $0.095, it could trigger an additional 26% price surge.
