Usman Salis
DOGE breaks key resistance levels while whales go on a massive buying spree, accumulating over a billion tokens in just 48 hours.
Something big is happening with Dogecoin. Over the past 48 hours, whale investors have been on an absolute buying spree, scooping up 1.08 billion DOGE tokens according to crypto analyst Ali. This isn't just random market noise – it's happening right as Bitcoin smashed through to a new all-time high above $123,000 earlier this week.
The meme coin that started as a joke is suddenly looking pretty serious. DOGE jumped 3.53% in the last 24 hours to hit $0.247, getting a nice boost from the GENIUS Act passing through Congress. Most crypto folks are calling this new legislation a win for the industry, and it shows in the price action.
DOGE Price Gets Corporate Backing
Here's where things get really interesting. Bit Origin, a publicly traded company that's big in Bitcoin mining, just announced they're raising $500 million specifically to buy Dogecoin for their corporate treasury. That's not small change – that's a serious institutional bet on DOGE's future.
When you combine massive whale buying with corporate money flowing in, it paints a picture of smart money positioning for something bigger. These aren't retail traders FOMO-ing in – these are the players who usually know something the rest of us don't.
Dogecoin (DOGE) Price Charts Looking Bullish
From a technical standpoint, DOGE has been on fire. The coin has posted gains for five straight days since bottoming out at $0.188 on July 15, hitting an intraday high of $0.257 over the weekend. That's the kind of momentum that gets traders excited.
The numbers are pretty impressive too. DOGE is up over 48% this month, though it's still sitting about 71% below its 2021 peak. According to Ali's analysis, now that DOGE has broken through the $0.20 resistance level, the next big test is at $0.36.
What's got technical analysts buzzing is the classic double bottom pattern that's forming on the daily charts. This is one of those patterns that historically signals a trend reversal, and it's happening right as DOGE broke out of a long-term downward channel that had been holding it back for months.
The setup looks promising for anyone betting on continued upside. If buying pressure keeps up or retail investors start jumping in, we could see some serious fireworks in DOGE price action ahead.
Usman Salis
