DOGE Price Soars Ahead of SpaceX Launch, But Risk Awaits
DOGE has surged by 7.18% to retest its resistance at $0.08, with whale wallets loading 430 million coins ahead of the SpaceX DOGE-1 satellite launch on September 14.
The momentum is now flat, and the MACD histogram is printing a clean zero, which means the fuel from this leg is either about to ignite into a continuation or stall and roll.
While sentiment leans heavily long, with retail investors 75.6% long and top traders 80.2% long, open interest dropped 8.2% in the last 24 hours while price was surging, indicating trapped shorts were forced out rather than new longs entering.
The whale accumulation angle is real, with large wallet addresses loading over 430 million DOGE - approximately $30 million at spot prices - in a single week, and the regulatory overhang has largely cleared with commodity classification for DOGE and two US-listed spot ETFs giving institutional players a regulated on-ramp to any launch-driven rally.