- Dogecoin price remains resilient above $0.20 despite recent bearish pressure.
- Whale accumulation indicates potential for a DOGE price rally or breakout soon.
- Technical shows balanced market conditions, signaling consolidation before breakout.
Dogecoin (DOGE) price has faced significant bearish pressure recently, yet it remains resilient above the key support level of $0.20. Despite the recent market struggles, DOGE continues to spark bullish speculation. The DOGE/USD recently slid below the $0.20 mark, triggering concerns. In the last 24 hours, it dropped by 1.66%, trading at $0.2001, with a trading volume of $1.45 billion, marking a near 20% decrease.
The downturn followed a sharp surge in trading activity, signaling that investors are keeping a close watch. Dogecoin’s price reached a five-month high of $0.28 on July 21 but has since plummeted nearly 30%, testing the critical $0.19 support level.
However, despite the recent decline, DOGE has shown signs of recovery, holding steady above $0.20, as whales reportedly accumulated 130M DOGE in recent days.
Will Dogecoin Price Recover to $0.25 This Week?
The DOGE price has shown some positive movement in the past few hours, currently eyeing more bullish ahead. Despite a dip earlier in the day, the Dogecoin price is seeing a slight recovery, indicating potential stabilization around this level.
The RSI (Relative Strength Index) is currently at 47.57, which points to a neutral market condition. The RSI’s proximity to the 50 mark reflects balanced momentum, with no clear signs of overbought or oversold conditions just yet. As a result, the price of Dogecoin could see more consolidation before any significant breakout.
The MACD (Moving Average Convergence Divergence) is showing a subtle bullish momentum. The MACD line is above the signal line, with a small positive histogram.
This indicates that buyers may start to regain control, suggesting a potential upward shift if the momentum continues to build. However, the MACD remains close to neutral, indicating that the market is still in a waiting phase.
If the Dogecoin price pushes past $0.2050, it could aim for higher targets, potentially reaching the $0.2100–$0.2200 range. However, failure to break this resistance could lead to a slight dip toward the $0.19 support, and further testing of the lower price range around $0.180 is possible.
Whales Buy Over $1B Dogecoin
In a notable development, whales have been actively purchasing Dogecoin in significant quantities, with over one billion tokens bought in just the last 24 hours.
This surge in whale activity has drawn attention within the cryptocurrency community, as such large-scale transactions can often influence the price dynamics of a token.
The sharp increase in Dogecoin’s trading volume has been clearly reflected in the price chart shared by Ali, where a significant upward trend aligns with the large purchases.
Whales bought over one billion Dogecoin $DOGE in the last 24 hours! pic.twitter.com/qdGrIE6Gez
— Ali (@ali_charts) August 6, 2025
The data, sourced from Santiment, indicates a sudden boost in activity, which could point to a potential price rally or a shift in investor sentiment.
This recent surge in Dogecoin purchases comes at a time when the broader cryptocurrency market has been experiencing fluctuations, partly fueled by global developments. For instance, China recently accused a crypto group of gathering iris data, raising concerns about surveillance and regulatory scrutiny. While major coins like Bitcoin and Ethereum continue to face volatility, Dogecoin’s price has remained stable.
Analysts and investors are now closely monitoring these whale activities to gauge the potential impact on the Dogecoin price trajectory in the coming days.
