DOGE Whales Eye $0.08 Breakout Amid Whale Buying and Improved Derivatives Positioning

The recent market downturn has seen Dogecoin (DOGE) whales accumulate a significant amount of tokens, sparking hopes for a rebound in the price. According to Santiment data, wallets holding between 10 million and 100 million DOGE have added approximately 180 million tokens during this period, increasing their supply share from 11.85% to 11.97%. This increase indicates renewed accumulation efforts but does not yet establish a sustained buying trend.

The derivatives positioning has also improved, with CoinGlass showing open interest near $1.17 billion and the OI-weighted funding rate remaining mostly positive since July. However, the elevated open interest could still amplify liquidations if support fails.

The DOGE price is currently trading near $0.0708, within its 20-day Donchian Channel. A daily close above $0.074 would improve the breakout case, while a loss of $0.0676 would weaken the rebound and reopen a test of recent lows. The broader trend remains weak.