Dogecoin News Update: Major Holders Accumulate 2 Billion DOGE While $0.18 Support Undergoes Key Challenge
- Dogecoin (DOGE) clings to $0.18 support amid mixed technical signals, with analysts monitoring potential rebounds toward $0.25 or deeper consolidation below $0.1990. - Whale accumulation of 2 billion DOGE and bullish RSI divergence suggest resilience, though EMA death cross and 1.5% ETF fees raise bearish concerns. - ETF approvals and Bitcoin's performance could drive liquidity, with $0.2088 breakout targeting $0.25–$0.27 or breakdown risking $0.14 levels. - Derivatives positioning shows 70% long bias an
Dogecoin (DOGE) is currently at a pivotal technical point as the
Since October 11, DOGE has been trading within a $0.17–$0.20 band, with derivatives data pointing to increased speculative activity. Futures open interest climbed 9% in a single day, and 70% of traders are holding long positions, suggesting institutional players are accumulating high-volatility digital assets, according to
Recent price swings have put DOGE’s strength to the test. A 5.5% dip to $0.1843 came after the loss of the crucial $0.1940 support, driven by institutional selling and a 180% spike in trading volume, according to
The introduction of the REX-Osprey DOGE ETF (DOJE) in September broadened institutional participation, though its 1.5% management fee remains a drawback compared to holding DOGE directly, according to the Yellow report. Other ETF proposals from Bitwise and Grayscale are still awaiting SEC review, which could bring in new capital. Blockchain data also reveals that whales accumulated 2 billion DOGE in early October, a move that often precedes major price shifts, as highlighted by Yellow.
Technical signals are mixed. The RSI is around 52, indicating a neutral market, while the MACD shows mild positive divergence, which aligns with steady accumulation, according to Yahoo Finance. However, a bearish “death cross” has formed as the 50-day EMA dropped below the 200-day EMA, raising concerns, especially as whales sold off 1.05 billion DOGE (worth $180 million) in a week, according to
Traders are watching several key factors. If DOGE closes above $0.2088, it would confirm the cup-and-handle pattern, while a break below $0.18 could lead to a further fall toward $0.14, as CoinDesk reports. Broader market trends, including Bitcoin’s performance and possible ETF approvals, will also impact DOGE’s direction. With derivatives activity picking up and social sentiment positive, the next significant move—either up to $0.25–$0.30 or down to $0.15–$0.18—will depend on how DOGE trades around the $0.20 mark, according to Yellow.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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