Dogecoin Whales Accumulation Signals Trend Reversal
Dogecoin (DOGE) value has presumably reached its correction backside. The main memecoin, with a market cap of about $36.8 billion, gained 2% over the past 24 hours to succeed in its each day peak of about $0.2497 earlier than retracting to commerce round $0.2429 at press time.
Why Is the DOGE Worth Up As we speak?
Technical Tailwinds
Dogecoin value rebounded at present partially fueled by technical tailwinds. The dog-themed memecoin has been forming a rising wedge sample since early April 2025.
Following the latest retrace in the direction of 23 cents, after the crypto market recorded a $1.7 billion liquidation of leveraged trades, DOGE value retested the decrease border of its rising wedge sample. As such, Dogecoin value is well-positioned to consolidate like the 2 different occasions that it retested the decrease border earlier than rallying in the direction of the higher border.
As Dogecoin value approaches the apex of the rising wedge sample within the each day timeframe, a constant shut on both border will outline the pattern for the approaching months.
Renewed Accumulation by Whale Buyers
In accordance with on-chain information evaluation from Santiment, Dogecoin addresses with a steadiness of between 100 million and 1 billion cash have collected 2 billion DOGE items through the previous two days. As such, this group of whale traders now holds a complete of 29.16 billion DOGE cash.
Spot ETF Hype
Dogecoin value has additionally benefited from the hype surrounding the spot exchange-traded funds (ETFs). As an illustration, ETF data reveals the lately authorized REX – Osprey Dogecoin ETF, alias DOJE, has recorded greater than $8.7 million in internet money inflows since September 18.
Extra spot DOGE ETFs are anticipated to be authorized within the close to future, particularly after the U.S. SEC authorized generic itemizing requirements for spot crypto ETFs. A few of the fund managers in search of to supply spot DOGE ETFs embody 21Shares, Bitwise, and Grayscale Investments.
