Peter Smith
Dogecoin (DOGE) whale accumulation surged 112% over the past week, showing renewed confidence from large holders despite modest price gains. Futures traders remain bullish with positive funding rates, signaling continued optimism for the memecoin's potential breakout.
Something interesting is happening with Dogecoin (DOGE). While the crypto market's been on fire lately, DOGE has been sitting on the sidelines - until now. Big investors just went on a buying spree, with whale accumulation exploding by 112% over the past week. That's a massive jump, especially when you consider DOGE hasn't exactly been the star of this crypto rally.
The price did bump up 5% in the last 24 hours to $0.172, which isn't much, but it's got people wondering if something bigger is brewing. When whales start accumulating this aggressively, it usually means they're expecting something to happen soon.
DOGE Whales Are Loading Up Big Time
Here's what's wild - according to IntoTheBlock's data, large holders jumped 111.97% in the past week. We're talking about wallets that control more than 0.1% of DOGE's total supply. These aren't your average retail investors; these are the heavy hitters who usually know something the rest of us don't.
This kind of accumulation reminds me of what happened back in 2021 before DOGE went absolutely crazy. The fact that whales are buying while the price is still pretty flat? That's textbook smart money behavior. They're positioning themselves before the crowd catches on.
DOGE Futures Traders Are Still Betting Big
The futures market is telling the same story. Funding rates are staying positive, with DOGE's OI-Weighted Funding Rate hanging around 0.0086% and hitting 0.01% on July 6th. When funding rates are positive, it means traders are literally paying extra to keep their long positions open. That's how confident they are.
So while DOGE's spot price has been playing it cool, the derivatives traders are still betting hard on an upside move. This disconnect between what's happening now and what traders expect to happen is pretty telling.
Right now, DOGE is sitting at $0.172 with an RSI of 51.04 - basically neutral territory. The OBV is at 46.3 billion, showing some buying interest but nothing crazy yet. The big test? Breaking above $0.18. That's the level everyone's watching, and if DOGE can punch through it convincingly, we might finally see this whale confidence translate into actual price action.
The bottom line? All the pieces are lining up - whales are accumulating, futures traders are bullish, and the technicals are slowly improving. But DOGE still needs to prove it can actually break out of this sideways action.
Peter Smith
