Dogecoin (DOGE) Whales Swept Up $112 Million… Will it Break $0.10 and Go to $0.14?

▲ Dogecoin (DOGE)/ChatGPT generated image ©

As Dogecoin (DOGE) approaches the $0.10 resistance level, whales have reportedly acquired over $110 million worth of DOGE in just four days. While the continued accumulation by large holders has fueled expectations of further gains, the key variable for its future direction is whether it can break past the $0.098-$0.10 range, where approximately 28 billion DOGE were previously traded.

According to crypto media outlet Finbold on September 28 (local time), crypto analyst Ali Martinez's analysis of Santiment data revealed that wallets holding between 10 million and 100 million DOGE accumulated an additional approximately 1.14 billion DOGE over the past 96 hours. This amounts to about $112 million at current prices. The total holdings of these wallets increased from approximately 54.29 billion DOGE on the 24th to 55.45 billion DOGE on the 27th.

Whale buying continued even as DOGE approached a major technical resistance level. Dogecoin is currently trading around $0.09, with a large supply formed around $0.098, where approximately 28 billion DOGE were previously traded. Finbold explained that while continuous whale accumulation is generally considered a positive sign, it does not guarantee an immediate price increase and could lead to a prolonged sideways trend.

Based on whale accumulation, technical price levels, and market conditions, Finbold's ChatGPT analysis presented three short-term scenarios. The base scenario, with a 45% probability, suggests that DOGE will break the resistance and then trade sideways between $0.10 and $0.12. The bearish scenario, with a 30% probability, involves profit-taking around $0.10, pushing the price down to $0.085-$0.09.

The bullish scenario, with a 25% probability, involves DOGE rising to $0.13-$0.16. This would require a decisive break above $0.10, sustained strong trading volume, and continued whale accumulation. The analysis suggested $0.13-$0.14 as a realistic upside target if the upward momentum is maintained after breaking the resistance.

Immediately, the most important price range is $0.098-$0.10. If it consistently stays above this range, there is a possibility of further gains, potentially reaching up to $0.14, passing through $0.115 and $0.125. Conversely, if it fails to break the resistance, it is likely to retest the $0.085-$0.09 support zone before attempting another breakout.

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