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- Whales bought 230M DOGE in 24 hours, driving price from $0.20 to $0.22.
- Key resistance lies at $0.23; breakout could target $0.25.
- Trading volume surged 146%, signaling strong market activity.
Dogecoin (DOGE) has surged over 8% in the past 24 hours, climbing from $0.20 to $0.2229 after large-scale whale accumulation. According to top crypto analyst Ali Martinez, whales purchased 230 million DOGE in just one day, fueling renewed optimism around the meme coin’s near-term outlook.
230 million Dogecoin $DOGE bought by whales in 24 hours! pic.twitter.com/dYiCadxLtz
— Ali (@ali_charts) August 8, 2025
This latest buying spree echoes a similar event in July, when 310 million DOGE were bought in a day, sparking speculation about a run toward the much-discussed $1 mark.
Strong Trading Momentum
DOGE’s market capitalization now stands at $33.53 billion, with 24-hour trading volume soaring 146.64% to $2.94 billion. Analysts note a solid support level at $0.220, while immediate resistance is forming between $0.222 and $0.224.
The Relative Strength Index (RSI) remains in a neutral zone, and prices are holding above the 9-day moving average — conditions that could support a continued rally if momentum holds.
Key Levels to Watch
Market experts suggest DOGE must close above $0.23 to confirm a bullish reversal. A breakout could target $0.25, while failure to surpass $0.228 may trigger a pullback toward $0.18. Liquidations remain modest, but further whale accumulation could act as a strong price catalyst.
Also Read: Dogecoin Rebound Stalls at $0.228 as Bearish Bets Build in Derivatives Market
If history is any guide, large-scale whale buying has previously triggered significant upward moves for Dogecoin
Outlook
With whale activity intensifying and market sentiment improving, Dogecoin’s short-term trajectory will depend on its ability to clear key resistance levels. Sustained buying pressure could reignite the push toward higher targets, while a failure to hold support may invite bearish pressure.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
