The post Dogecoin Surges 4% as DOGE Price Breaks Above $0.23 Following Whale Accumulation appeared on BitcoinEthereumNews.com.

Alvin Lang
Aug 09, 2025 04:37

DOGE trades at $0.23 after 3.97% daily gains, with whale buying driving institutional interest and technical indicators showing bullish momentum above key resistance.

Quick Take • DOGE currently trading at $0.23 (+3.97% in 24h) • Dogecoin’s RSI at 57.52 suggests neutral momentum with room for upside • Whale accumulation drives 8.4% surge over past 48 hours following Musk’s X platform payment hints What’s Driving Dogecoin Price Today? The DOGE price has gained significant momentum over the past 48 hours, primarily driven by substantial whale accumulation that pushed trading volumes above 1 billion tokens. Yesterday’s 8.4% surge to $0.22 marked a decisive breakout from recent consolidation levels, with institutional buying patterns suggesting renewed confidence in Dogecoin’s near-term prospects. This bullish momentum follows Elon Musk’s hints on August 7 about potential DOGE payment integration on the X platform, which initially sparked a 5.89% rally. The combination of fundamental catalysts and technical breakouts has created a powerful upward trajectory for the meme coin. Despite earlier weakness on August 6 when DOGE price shed 5% amid broader market risk aversion, the recent whale activity has completely reversed the bearish sentiment. The sustained buying pressure indicates that large holders view current levels as attractive accumulation zones. DOGE Technical Analysis: Bullish Signals Emerge Dogecoin technical analysis reveals a compelling bullish setup across multiple timeframes. The DOGE RSI reading of 57.52 positions the cryptocurrency in neutral territory with significant room for upward movement before reaching overbought conditions. The current DOGE price of $0.23 sits above key moving averages, with the 7-day SMA at $0.21 providing immediate support. More importantly, Dogecoin has broken above its 20-day SMA of $0.22, confirming the recent bullish breakout from consolidation. Dogecoin’s MACD configuration shows mixed signals, with the…

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Filed under: News - @ August 9, 2025 9:27 pm