Dogecoin Whales Eye Breakout as DOGE Rebounds 1.69%

Dogecoin (DOGE) whales are back in action, adding 180 million tokens to their wallets during the recent market drawdown. This move has supported a 1.69% rebound to $0.0708, but resistance at $0.074 still limits the recovery.

The whale wallets holding between 10 million and 100 million DOGE saw their supply share increase from 11.85% to 11.97%. This is still below their late-July holdings, suggesting that while accumulation is renewed, it's not yet a sustained buying trend.

Derivatives positioning has also improved, with open interest near $1.17 billion and positive funding rates. However, elevated open interest could amplify liquidations if support fails.

The DOGE price remains within its 20-day Donchian Channel, with $0.074 as the nearest upper boundary and $0.0676 as the lower support level. A daily close above $0.074 would improve the breakout case, potentially targeting $0.08 for the bulls.