DOGE Whales Eye $0.08 Target as Price Bounces off Support

Dogecoin whales have been accumulating DOGE during market drawdowns, adding around 180 million tokens in the latest pullback. This increase has lifted their share of supply to 11.97%, but still falls below their late-July holdings.

The recent buying activity by large holders has improved derivatives positioning, with open interest near $1.17 billion and a mostly positive OI-weighted funding rate since July. However, the long bias is clear, but leverage remains low, and elevated open interest could amplify liquidations if support fails.

The DOGE price currently trades around $0.0708, within its 20-day Donchian Channel. A daily close above $0.074 would improve the breakout case, potentially targeting $0.08 for bulls. On the other hand, a loss of $0.0676 could weaken the rebound and reopen a test of recent lows.