Dogecoin (DOGE) Price: Whales Accumulate $112M Ahead of Potential Breakout

Key Takeaways

• DOGE maintains position around $0.0985 following recent bounce from September’s bottom.
• Upward-sloping trend line established in August continues to provide technical support.
• Critical support zone identified at $0.0792, while key resistance barrier stands at $0.1174.
• Relative Strength Index at 62.94 indicates healthy momentum without excessive conditions.
• MACD indicator remains constructive, displaying positive histogram readings above zero.

The leading meme cryptocurrency is currently changing hands around the $0.0985 mark following its latest upward movement. The digital asset continues to respect its ascending daily support line.

Today’s trading session opened around $0.0971, with the token subsequently climbing to touch $0.0985. At press time, DOGE registered approximately 1.4% gains.

The overall technical structure has shown marked improvement since late summer. The token established a bottom around $0.069 in August, subsequently developing a series of ascending lows and peaks.

This progression has formed an upward-sloping support boundary that continues to provide technical backing throughout September. The cryptocurrency currently trades comfortably above this diagonal line, which now extends through the lower $0.08 territory.

Critical Price Zones Under Focus

Technical analysis reveals a significant horizontal support platform positioned near $0.0792. This threshold has functioned as a crucial inflection point throughout the recent bullish phase.

Looking upward, the primary resistance barrier emerges at $0.1174. This level previously rejected price action during the May advance and represents the most formidable obstacle on the current daily timeframe.

While DOGE remains considerably below this overhead target, the latest recovery has positioned this resistance level back within striking distance.

Prior to challenging the $0.1174 ceiling, bulls must first establish dominance above the $0.10 threshold. The token has tested this psychologically significant level multiple times throughout the current month.

Successfully clearing $0.10 would reinforce the near-term bullish framework and establish a more direct trajectory toward the May resistance territory.

Should selling pressure emerge, the ascending support line provides initial downside protection. The $0.0792 threshold represents the more critical support foundation.

A decisive breakdown beneath $0.0792 would compromise the existing pattern of higher lows and redirect attention toward the August base.

Technical Indicators And Large Holder Accumulation

The Relative Strength Index for Dogecoin currently registers 62.94. This reading positions above the neutral midpoint of 50 while remaining below the 70 threshold indicating overbought territory.

This configuration suggests healthy buying pressure that hasn’t extended into extreme territory. The MACD indicator similarly displays constructive signals, with the MACD line positioned near 0.0039 versus a signal line around 0.0030.

The histogram measurement of approximately 0.0010 demonstrates that near-term momentum has regained strength following the recent consolidation. Trading volume has expanded across multiple September sessions, particularly during the advance from the $0.0792 support level.

Market analyst Ali Charts highlighted significant whale accumulation throughout this period. According to his analysis, while Dogecoin encountered resistance around the $0.098 level—a zone where approximately 28 billion DOGE previously traded hands—large holders have accumulated over 1.14 billion tokens during the past 96 hours, representing approximately $112 million in value, suggesting positioning for an upside breakout.

The technical picture displays DOGE maintaining its position above trend support while momentum gauges continue signaling strength. The market now attempts to generate sufficient buying power to overcome the $0.10 psychological barrier and subsequently challenge the $0.1174 resistance territory.