DOGE Whales Fuel Rebound with $180M Token Purchase

DOGE whales have been actively buying up tokens during market drawdowns. Recent data from Santiment shows that wallets holding between 10 million and 100 million DOGE added around 180 million tokens, increasing their share of supply to 11.97%. This increase points to renewed accumulation but does not establish a sustained buying trend.

The derivatives positioning has also improved, with open interest near $1.17 billion while the OI-weighted funding rate has remained mostly positive since July. The long bias is clear, but it's essential to note that elevated open interest could still amplify liquidations if support fails.

A daily close above $0.074 would improve the breakout case for DOGE, potentially targeting $0.08. However, a loss of $0.0676 would weaken the rebound and reopen a test of recent lows.