Key takeaways
- DOGE has risen 11% in the last 24 hours and is eyeing resistance near $0.30.
- Whales have been accumulating Dogecoin in recent weeks.
Dogecoin climbs as wider crypto markets recover
DOGE, the native coin of the Dogecoin blockchain, is among the top 10 best-performing coins. The token gained about 11% over the last 24 hours and is currently trading above $0.24.
This positive move comes as broader crypto markets rebound from Monday’s slump. Bitcoin is trading strongly again, while Ether remains poised to challenge new all-time highs after recently surpassing $4,600.
Whale accumulation has been a primary driver of DOGE’s recent price action. More than 1 billion DOGE (roughly $200 million) was acquired in recent sessions. Large holders now control close to half of DOGE’s circulating supply, signaling institutional confidence despite intraday volatility.
DOGE targets the $0.30 mark as bullish momentum returns
The DOGE/USD 4‑hour chart remains bullish following the token’s ongoing rally. DOGE has established solid support at $0.220 (a volume-backed morning defense) after breaking earlier resistance at $0.238.
Traders are watching for a continuation of the breakout, with the $0.232–$0.220 support zone holding steady as profit-taking occurs. Continued whale inflows in upcoming sessions could fuel further upside, although broader market volatility will influence meme coins’ performance.
An RSI reading near 67 indicates buyers are in control, and MACD lines are also in bullish territory. If the uptrend persists, DOGE could clear the $0.28 resistance and test the $0.30 level for the first time since February.
However, a market correction remains possible. A pullback could see DOGE retest the $0.22 support level; failure to hold that level may push the price below $0.20 again later this month.