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Key Insights:
- Dogecoin (DOGE) has broken out of a descending trendline, and price action hints 40% rally ahead.
- An expert shared that whales have purchased 230 million DOGE in the past 24 hours.
- A crypto expert shared that Bubble Risk has not yet reached extreme levels. That hints DOGE still has room for growth before a major correction.
Dogecoin price has jumped for the third consecutive day and is now poised for a massive price uptick. This is all thanks to whales’ intense interest and confidence in the meme coin.
Recently, a prominent crypto expert shared on-chain data. This is now making investors think whether this is the right time to buy.
Whale Bags 230M DOGE
A Dogecoin expert on X revealed that whales holding 10M–100M DOGE made a significant move. They recently bought 230 million Dogecoins in a single accumulation.
Meanwhile, these notable bags were made in the past 24 hours. This happened before the Dogecoin price exceeded the local resistance level of $0.223.
Dogecoin Price and Rising Trading Volume
At press time, Dogecoin price stands strong at $0.2283. Also, it has climbed over 5.10% over the past 24 hours.
During this period, investors and traders have shown a strong interest in the token. This led to a 55% jump in the trading volume compared to the previous day.
This surge in the trading volume, along with the price, hints at strong upside momentum. It is sustainable due to its recent breakout and shift in the market sentiment.
Dogecoin Price Action and Key Technical Levels
What has caused the Dogecoin price to be poised for a massive rally? The answer is the breakout of the descending trendline. This has provided a strong resistance to the meme coin.
According to expert technical analysis, Dogecoin’s price has been in a downtrend since July 21, 2025. At the same time, it faced constant resistance from a declining trendline. This got breached in the recent rally.
The meme coin has breached the descending trendline. However, the daily chart also shows that DOGE broke above the $0.223 resistance level during the recent three-day rally.
The meme coin may sustain this breakout based on the recent price action and historical pattern. It has held the local support. The token could soar by 40% and reach the $0.32 level in the future.
On the other hand, if this momentum fails, it could again move into the consolidation or sideways territory.
Technical Indicators and Expert Insights
Despite the Dogecoin price continuing to rise, the Supertrend, a technical indicator, still flashes a bearish signal. The indicator is in red on the daily chart and trades above the DOGE price. This suggests that the meme coin is in a downtrend and sellers dominate.
The Relative Strength Index (RSI) is still far from the overbought zone. It suggests the meme coin has enough juice and could continue its upside momentum.
Besides this price action, a crypto expert shared a few on-chain data. This includes Bubble Risk, Capitulative Oscillator, Hash Capitulative Oscillator, and Mining Index on X.
In the post, the expert shared that the Dogecoin bubble hasn’t burst yet. Also, the on-chain data shows that the real signal for a new bull run might come before a correction.
The post also added that the equilibrium index indicates that Dogecoin tends to enter major uptrends. This usually happens when miners return to high profitability. The recent rise in this index could be an early signal of renewed buying strength.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
