Dogecoin (DOGE) Price: Whales Gobble Up 100 Million Coins as Rally Hopes Grow

TLDR

Dogecoin is consolidating above $0.16 support while facing resistance at $0.19-$0.20 Whales have accumulated approximately 100 million DOGE over the past week Technical analyst Trader Tardigrade believes DOGE’s pullback phase may be complete Crypto Bullet identified a “Textbook Accumulation Cylinder” pattern that could push DOGE above $3.2 Breaking above the $0.22 level could trigger an upward move toward $0.25 and beyond

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Dogecoin (DOGE) is currently trading in a tight range around $0.17-$0.18, consolidating above the $0.16 support level while struggling to break through the $0.19-$0.20 resistance zone. This price action comes as the broader cryptocurrency market shows signs of renewed momentum and strength.

Dogecoin (DOGE) Price

Recent on-chain data reveals that Dogecoin whales have accumulated approximately 100 million DOGE over the past week. This buying activity from major players often precedes upward price movements, especially when coinciding with broader market recovery.

The popular meme coin appears to have weathered its correction phase, according to technical analyst Trader Tardigrade. The analyst highlighted that Dogecoin may have completed its pullback for this cycle, establishing a solid base above important support levels.

#Dogecoin consistently finds support at previous swing highs. It just rebounded from support matching a previous swing high.$DOGE may have completed its pullback and could surge again soon 🚀 pic.twitter.com/dhfnblpj3v

— Trader Tardigrade (@TATrader_Alan) April 30, 2025

A view of the chart shows that DOGE has persistently found support at previous swing highs. It recently bounced back from a key support zone to reach a high from a prior upswing, demonstrating resilience within current market conditions.

Based on this movement on the 3-day chart, Trader Tardigrade believes that the meme coin has finished its pullback. The analyst foresees another sharp rally in the near term, which could push DOGE to a new all-time high in 2025.

Textbook Accumulation Cylinder Pattern

Technical analyst Crypto Bullet has shared an analysis that points to DOGE’s potential future in the ongoing cycle. Following an examination of the 3-day chart, the analyst revealed that Dogecoin had formed a “Textbook Accumulation Cylinder” pattern.

$DOGE prints a textbook Accumulation Cylinder 🧐

According to this pattern, we should see a giant pump in the next few months 🔥 🚀

We don’t know what the catalyst will be, but something interesting is coming. Add here the BTC Dominance topping out and we have a perfect recipe… pic.twitter.com/M5SNbzZl4T

— CryptoBullet (@CryptoBullet1) April 30, 2025

Based on the shape of this pattern, the meme coin could be poised for a massive pump in the next few months. The pattern hints at a surge to a market top for DOGE above $3.2. After that, Crypto Bullet suggests a decline to $1.2 will occur before rebounding to $2 again. Finally, DOGE’s price is likely to enter a bearish market phase, pulling prices back to $0.17 by the end of 2026.

Although Crypto Bullet is unsure what would trigger this move, the analyst believes that “something interesting is coming.” An ideal formula for a pump could emerge with the addition of Bitcoin’s dominance topping out.

Looking at price action on shorter timeframes, Dogecoin continues to demonstrate potential for a rally as it enters a recovery phase, signaling a shift in price dynamics. Such a move would end its correction or consolidation phase, setting the stage for an upsurge.

The last time DOGE entered a recovery phase, it resulted in a notable upward move in the shape of a Rising Wedge formation. After a period of uptrends, DOGE transitioned into a consolidation phase, forming a Parallel Channel pattern.

A similar pattern is currently unfolding on the 4-hour chart, hinting at an impending rally. Should past trends repeat, the meme coin is expected to rally in the upcoming days, potentially reclaiming the $0.225 level.

Bulls are attempting to reclaim higher levels, especially the $0.20 zone, which has consistently acted as a strong barrier over the past few weeks. A successful break above this level could trigger a recovery rally, but until then, price action remains uncertain.

Analysts are split on what comes next for DOGE. Some argue that failure to break out above $0.20 coupled with increasing lower highs could signal a continuation of the broader downtrend, potentially pushing the memecoin back toward the $0.15 zone.

On the other hand, with Bitcoin holding strong above $90K and major altcoins beginning to rebound, others believe Dogecoin could follow suit. The recent whale accumulation supports this bullish case.

To confirm a breakout and shift toward a recovery rally, DOGE must reclaim the $0.22 level — a key resistance zone that aligns with the 200-day exponential moving average (EMA). Reclaiming this level would signal strength and could trigger an upward move toward $0.25 and beyond, especially if overall market conditions remain favorable.

However, the lack of follow-through and volume at current levels raises concern. If bulls fail to defend $0.16, the downside risk grows. A breakdown below this support could open the door to a deeper correction, potentially driving DOGE down into the $0.13-$0.10 region, where historical demand has previously stepped in.

For now, all eyes are on whether DOGE can break above the $0.20 resistance. A clean break above it could validate the bullish outlook, while rejection might extend the current consolidation phase.

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