Dogecoin’s whale buying is rising fast: can DOGE reclaim $0.07 next?

Dogecoin DOGE edges lower on Friday, trading below the $0.070 level after opening the session in positive territory.

The modest advance offers an early sign of stabilization, but DOGE remains within a broader bearish structure and sits approximately 12% below its July peak of $0.079.

Growing whale holdings, steady derivatives activity, and rising trading volume could support a stronger recovery if the $0.070 area is reclaimed. 

However, several technical barriers remain positioned above the current price, limiting the immediate bullish outlook.

Dogecoin whales accumulate despite weak price performance

Large Dogecoin holders are increasing their exposure despite the meme coin’s recent price weakness.

Wallets containing between 10 million and 100 million DOGE controlled more than 12.18% of the circulating supply as of Wednesday, according to Santiment. This figure is up from 11.86% last Saturday.

The 0.32-percentage-point increase represents a notable rise in the amount of DOGE controlled by this group over a short period.

Whale accumulation can reduce the volume of tokens available for sale and help absorb pressure from smaller holders. If the trend continues, it could provide a foundation for a more sustained price recovery.

However, concentration among large holders can also increase market volatility because sizeable transactions from a few wallets may have an outsized effect on price.

Retail and speculative interest in Dogecoin remains relatively weak, based on activity in the perpetual futures market.

Dogecoin futures Open Interest has dropped by 1.2% in the last 24 hours and now reads $1.19 billion, with the volume declining by 46% during the same period. 

Open Interest measures the total value of outstanding derivatives contracts that have not been settled. The negative readings indicate that traders are reducing their exposure to DOGE in line with the current price action. 

The small decline suggests limited position closures rather than a broad withdrawal from the market.

If Open Interest rises alongside the price, it could indicate that traders are opening new positions in anticipation of further gains. 

However, high derivatives exposure can also increase liquidation risks if DOGE makes a sudden move in either direction.

Technical Analysis: DOGE faces resistance above $0.070

Dogecoin is trading near $0.070 and remains below a dense cluster of technical resistance levels, preserving the broader bearish bias.

The price is positioned near the Bollinger Bands’ middle line at $0.070. Holding above this level could help DOGE build momentum toward the upper boundary of the indicator.

The Relative Strength Index stands near 49, slightly below its neutral level of 50. This shows that bearish momentum is easing, although buyers have not yet gained clear control.

Meanwhile, the Moving Average Convergence Divergence is producing modestly positive signals. The indicator points to improving momentum but does not yet confirm a reversal of the wider downtrend.

Immediate resistance sits at the Bollinger Bands’ middle line around $0.070, followed by the upper boundary near $0.072.

A daily close above $0.072 could allow DOGE to challenge the 50-day Exponential Moving Average at $0.074. 

Clearing this moving average would represent a more convincing sign of short-term strength.

The next significant barrier is the 100-day EMA at $0.081, close to the broader $0.080 resistance region. 

If DOGE breaks above this level, the price could extend its recovery toward the 200-day EMA at $0.096 and the psychological $0.100 threshold.

On the downside, the lower Bollinger Band at $0.068 provides the first meaningful support.

A daily close below $0.068 would invalidate the early recovery attempt and could trigger renewed selling pressure. 

For now, holding the $0.070 area is essential for maintaining the possibility of an upside breakout.