Dogecoin Whales Buy $13M — Is a DOGE Rebound Near?

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• Dormant Dogecoin whale withdraws $2.95M from Binance after 11 months.
  
• Retail traders keep selling despite signs of whale accumulation.
  
• DOGE must break above $0.20 to confirm a potential reversal.

Dogecoin [DOGE] has struggled to regain strength after slipping from $0.30 a month ago, falling 13.2% over the past 30 days to trade near $0.1969. Despite the broader bearish sentiment, large holders appear to be quietly returning to the market.

According to Onchain Lens, a dormant Dogecoin whale reactivated after 11 months, withdrawing over 15 million DOGE worth $2.95 million from Binance. The whale sold a small portion but retained more than 15 million DOGE — a move often viewed as a signal of confidence in future recovery.

Whales Buy, Retail Traders Sell

While whales are adding to their positions, retail traders are moving in the opposite direction. Data from CryptoQuant shows Dogecoin’s Spot Taker CVD has remained negative throughout October, indicating continuous sell-side dominance from spot traders.

Coinalyze further confirms this imbalance, with sell volumes surpassing buy volumes by nearly 1.8 million DOGE over the past month. Historically, such divergence — where whales accumulate while retail investors sell — has preceded major market reversals.

DOGE Faces Tough Resistance at $0.20

Despite on-chain accumulation, Dogecoin’s price action remains weak. The token continues to trade below its 20, 50, 100, and 200 EMA levels, reflecting a strong bearish bias. Technical indicators like the Directional Movement Index (DMI) show the negative trend strengthening, with sellers firmly in control.

Also Read: Dogecoin Rally: Whale Accumulation and Key $0.23 Level Signal Bullish Momentum

For DOGE to stage a recovery, bulls must reclaim the $0.20 resistance and push above the $0.21 EMA cluster. Failure to do so could keep prices range-bound between $0.17 and $0.20 in the short term.

A Quiet Accumulation Phase Before the Next Move

Whale activity suggests that smart money is positioning early, even as retail sentiment remains cautious. Whether this marks the beginning of Dogecoin’s next accumulation phase or a temporary pause in its downtrend depends on whether bulls can break above $0.20 in the coming weeks.

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.