DOGE Price Skyrockets on Whale Accumulation and Short Liquidations

Dogecoin's price surged on September 21, reaching its highest point in months as it climbed as much as 15% to touch $0.105.

The rally was fueled by whale accumulation, a wave of short liquidations, and renewed interest in spot DOGE ETFs.

Around $12.66 million worth of DOGE shorts were liquidated during the surge, with more than $1 billion in short positions across the broader crypto derivatives market being closed out.

In the days leading up to September 21, whale wallets accumulated between 240 million and 360 million DOGE tokens, indicating a potential bullish continuation according to technical analysts who were watching for a cup-and-handle formation on DOGE charts.