Dogecoin Whales Bought 600M Tokens Over the Last 48 Hours; Will DOGE Surge to $0.3?

Dogecoin (DOGE) has put up an impressive rally recently with a surge of over 45% over the last three days. This surge signifies heightened investor confidence for the leading memecoin. With the coin still maintaining support around the $0.23, it still holds potential for more upside price movement

Large investors also seem to be aspiring for higher prices moving forward. Recent data shows that the DOGE whales have accumulated huge sums of the token in recent times. But will Dogecoin rally to $0.3 following the uptick in whale activity?

Whales Buy 600M DOGE Over the Last 48 Hours

The broader altcoin market is currently enjoying renewed enthusiasm with most coins recording significant price pumps over the last three days. DOGE, the leading memecoin by market cap, has not been left behind either. The coin has recorded a significant surge in price recently

Following this renewed enthusiasm, whales have not been sleeping the opportunity off. As per a post by crypto analyst Ali_Charts, data by Santiment shows that these whales have accumulated 600 million Dogecoin over the last 48 hours.

Whales have bought 600 million #Dogecoin $DOGE in the last 48 hours! pic.twitter.com/4s84fodwkk

— Ali (@ali_charts) May 10, 2025

The huge accumulation by these shows that large market players have regained confidence in Dogecoin. And often, this is associated with a potential surge in price moving forward

Additionally, Large Transaction Volume data by IntoTheBlock also shows that these transactions have risen by 41% over the last three days. This simply means that transactions of $100,000 have risen in the same stretch. Thus, the spike in large transactions signify growing confidence in the current Dogecoin rally

Source: IntoTheBlock## DOGE Drops After Hitting Resistance; Short-Term Correction or Reversal?

Prior to today, the dog-themed memecoin DOGE rallied by 45.58% in three days with the price surging to $.25 where it faced resistance. The price has since rebounded and is trading at $0.23 as per the daily chart on TradingView.

Dogecoin’s technical indicators suggest that the rebound from the $0.25 level is a pullback. The RSI of DOGE is indicating that the memecoin is currently overbought with the reading at 71.13 as of this writing. This explains the drop from $0.25 level to the current price level

The MACD on the other hand, shows that the bullish rally is still intact. Dogecoin’s MACD line at 0.012 is above the signal line at 0.006. Additionally, the histogram bars are positive hence clear depiction that the bullish momentum is still intact and the recent drop is just a pull back and not a reversal

A clear reversal will be confirmed once Dogecoin’s RSI drops towards 30 accompanied by a bearish crossover on the MACD line and the signal line. But as of now, Dogecoin still has the potential to surge to $0.3. A surge in trading volume and backing by bulls could push Dogecoin higher

For Dogecoin to reach $0.3, it has to clear the resistance at $0.25 level. Turning this level into support could then push the memecoin to the next resistance at $0.29. Clearing this level will then push DOGE above $0.3. Nonetheless, investor must be careful since Dogecoin, just like other memecoins, is very volatile