Dogecoin Whale Accumulation Climbs as Support Zone Holds

Dogecoin is trading near its recent lows but continues to attract attention from traders seeking a recovery opportunity. According to analysts, the memecoin's proximity to long-term support provides a clear structure for traders.

The primary support for Dogecoin stands at around $0.07, while the initial resistance level lies near $0.09, $0.095. If bullish momentum increases and the resistance breaks, forecasts suggest DOGE could target the $0.118, $0.12 area in an extended move.

Recent blockchain data shows large Dogecoin holders have added significant amounts to their positions. On-chain analyst Ali Charts reported that whales accumulated more than 430 million DOGE over the past week, driving total whale balances from approximately 18.5 billion DOGE to nearly 18.9 billion DOGE during this accumulation phase.

However, despite a constructive technical foundation and increasing whale interest, Dogecoin continues to face challenges from sluggish trading volume. Analyst Eliz emphasized that technical breakouts in Dogecoin need to be supported by higher trading volume to avoid short-lived surges and reinforce the probability of a sustained trend shift.