DOGE Whales Eye $0.08 as Accummulation Continues Amid Market Weakness

Dogecoin whales have been quietly accumulating tokens during market downturns. Data from Santiment shows that wallets holding between 10 million and 100 million DOGE added about 180 million tokens, increasing their share of supply from 11.85% to 11.97%. This is still below the cohort's late-July holdings.

The increase indicates renewed accumulation, but it does not yet establish a sustained buying trend because balances remain below their recent peak, and some addresses may belong to exchanges or custodians, leaving the reason for the increase unclear.

Derivatives positioning has also improved, with open interest near $1.17 billion while the OI-weighted funding rate has remained mostly positive since July. A daily close above $0.074 would improve the breakout case and potentially target $0.08, but a loss of $0.0676 would weaken the rebound and reopen a test of recent lows.