DOGE Surges on Whale Accumulation, Derivatives Metrics Suggest Rally Ahead

Dogecoin's price action is currently showing signs of a modest bullish bias as it trades above the key support zone around $0.090 on Tuesday.

This comes despite being capped below the 200-day Exponential Moving Average (EMA) near $0.094, according to FXStreet.

Santiment's Supply Distribution data shows that certain large-wallet holders, or whales, are accumulating DOGE tokens during recent price dips, which is a positive sign for the token.

The metric indicates that whales holding between 1 million and 10 million (yellow line) and 10 million and 100 million DOGE tokens (blue line) have accumulated 519 million dog-themed meme coins since Sunday, suggesting sustained long-term interest among large-wallet holders.