Dogecoin whales explode 112%, but no breakout: What happens next?
Traders and large holders alike are showing signs of optimism; will Dogecoin follow through?
- DOGE whale accumulation surged 112%, showing renewed confidence despite modest price gains.
- Futures Funding Rates remain positive, showing traders are still betting on a breakout.
Dogecoin [DOGE] is back on the radar of major investors. Whale accumulation has jumped by 112% over the past week, a mammoth rise in interest from large holders.
Meanwhile, Futures traders are doubling down on long positions, showing strong conviction even as DOGE trails behind the broader crypto rally.
However, the memecoin has gone up 5% in the last 24 hours, hinting at early signs of momentum building.
Whales make waves as netflow surges
According to Dogecoin’s Netflow per IntoTheBlock, large holders jumped 111.97% in the past week.
Large holders — wallets that control more than 0.1% of DOGE’s circulating supply — have significantly increased their accumulation.
This sharp reversal marked a renewed appetite for DOGE among heavyweight investors, despite its modest price structure.
In fact, this Netflow pivot echoed trends seen during earlier accumulation phases in 2021.
Futures traders turn bullish
Moving to the Futures market, Funding Rates stayed positive, with DOGE’s OI-Weighted Funding Rate hovering near 0.0086% and peaking around 0.01% on the 6th of July.
This shows that traders are betting on a price increase despite DOGE’s relatively muted response to the broader market rally.
In short, while the spot price remains cautious, the derivatives market is still leaning heavily toward upside expectations.
Momentum builds, but bulls need better
Dogecoin is showing early signs of recovery, with its price climbing 5% to $0.172 at press time.
The RSI was at 51.04, slightly above neutral territory, suggesting mild bullish momentum but no clear trend dominance. Meanwhile, the OBV has edged up to 46.3 billion, hinting at improving but cautious buying interest.
While recent green candles show price resilience, DOGE still needs a decisive move above the $0.18 resistance zone to confirm a bullish breakout.
Overall, price action is slowly aligning with whale and derivatives optimism, but a stronger push is still needed.
