- Whale reaccumulation added 1.08B DOGE in 48 hours, raising holdings to 41.7% of supply and reducing market float.
- A $21.24M leveraged long position boosted DOGE’s rally, with trading volume spiking to 1.17B DOGE amid rising investor appetite.
- DOGE broke above $0.2397 Bollinger Band; MVRV score of 31.7 shows overbought risk but confirms strong holder profitability.
Dogecoin’s price increased sharply to $0.25 this week, driven by renewed whale activity and strong technical momentum. Yesterday, the coin traded at $0.24, up from $0.20 just days prior.
A massive leveraged long position and notable accumulation by large holders have added fuel to this rapid surge. A whale reportedly closed a $2.14 million profit on a previous long before re-entering with a 10x leveraged position worth $21.24 million.
At the same time, analyst Ali reported that whales acquired 1.08 billion DOGE in just 48 hours, boosting institutional interest and reducing sell-side pressure.
$250M Whale Trades Fuel New Bullish Wave
One whale reportedly executed a profitable DOGE trade before jumping back in with another aggressive position. Ten hours after exiting with $2.14 million in gains, the investor entered a 10x leveraged long on 84.08 million DOGE.
The new position, valued at $21.24 million, already shows an unrealized profit of $1.64 million. This move followed broader accumulation trends, with whale holdings between 100M–1B DOGE coins increasing to 25.36 billion DOGE.
Previously, these addresses had declined from a peak of 26.8 billion DOGE in May to 24.03 billion in early July.
However, recent buying has reversed that slide. According to analyst Ali, whales collectively added 1.08 billion DOGE in 48 hours. Their holdings now represent 41.7% of the total supply, indicating reduced market float and lower sell pressure.
Key Indicators Show Overbought but Strong Price Structure
Technically, Dogecoin broke above the upper Bollinger Band at $0.23970, indicating a major bullish momentum. The current price is a 6.42% gain on the day. Price action moved within a daily range of $0.23558 to $0.25700.
Trading volume also spiked, reaching 1.17 billion DOGE, supporting the rally with high participation. Meanwhile, the MVRV Z-score climbed to 31.70702, indicating that many holders are currently in profit.
However, high MVRV scores often precede potential consolidation. DOGE has gained nearly 79% since bottoming at $0.14 during the June conflict between Israel and Iran. Price has now reclaimed levels last seen in early May.
Market Environment Supports High-Risk Appetite for Meme Assets
Beyond technicals and whale activity, broader market shifts have favored DOGE’s rally. The Altcoin Season Index jumped 49% in one week, now standing at 40/100.
At the same time, Bitcoin dominance dropped to 60.86%, indicating rotation into higher-beta assets. Meanwhile, the Crypto Fear & Greed Index held steady at 69, suggesting sustained investor confidence in speculative tokens.
With DOGE pushing beyond key resistance levels and whale confidence returning, market dynamics remain favorable for further moves, though analysts signal caution due to elevated metrics.
