The post Dogecoin whales accumulate 80M tokens – Enough to push DOGE past $0.20? appeared on BitcoinEthereumNews.com.

Dogecoin’s whale accumulation and bullish structure pointed to a potential breakout above $0.20 On-chain metrics and S2F ratio alluded to growing user activity and long-term scarcity Dogecoin [DOGE] has seen a significant accumulation phase, with whales acquiring over 80 million DOGE in just 24 hours. This aggressive buying spree by major holders seemed to coincide with a fresh wave of bullish sentiment. Especially as the memecoin rebounded from its local lows.  At press time, DOGE was trading at $0.1638, up 4.07% in the last 24 hours. This, on the back of a significant recovery on the charts amid market-wide volatility. This renewed interest from deep-pocketed investors could be a sign of early positioning ahead of a potential breakout. DOGE reclaims demand zone – Can bulls sustain momentum? After bottoming out within the critical demand zone between $0.14109 and $0.15200, DOGE has rebounded with strength. The chart highlighted a clear higher-low structure forming, supported by aggressive whale accumulation during the consolidation phase.  The immediate resistance seemed to lie around $0.20139 – A level that previously acted as a reversal point during earlier rallies. If this level breaks, the next target would sit at $0.24388, aligning with late 2024’s mid-cycle peak. Therefore, DOGE must maintain momentum above $0.18 to sustain bullish pressure as any weakness could trigger another retest of the demand zone. Source: TradingView Funding rates reflect healthy trader positioning Over in the derivatives arena, Dogecoin’s Funding Rates across major exchanges, especially Binance, stood at 0.009161% as of press time. This slightly positive rate suggested that long traders continue to pay a premium to maintain their positions, reflecting mild bullish conviction.  However, the lack of elevated rates also showed that traders are not overleveraging, which reduces the risk of sudden corrections. Therefore, DOGE finds itself in a balanced state where cautious…

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Filed under: News - @ April 12, 2025 1:18 pm