Will Dogecoin Price Rebound Above $0.15?

Dogecoin price traded at $0.1304 on Tuesday, up 1.39% in the last 24 hours. Whales accumulated 138 million DOGE during this period, signaling renewed investor interest. The price is currently aiming at breaking out of the resistance zone above the price of $0.15 as the price starts to gain momentum.

The wider crypto market rose 0.7% as well, rebounding after the recent losses despite macroeconomic fears. Bitcoin price is targeting a move over $90,000, and Ethereum is at a standoff at nearly $3,000.

Altcoins such as XRP, Solana, and BNB experienced slight rebounds. According to analysts, a high level of whale activity can lead to a continued increase in Dogecoin price in case of a positive signal on the market.

Dogecoin Whales Scoop Up 138 Million DOGE in 24 Hours

Dogecoin whales accumulated over 138 million DOGE tokens in a single day, signaling renewed bullish interest in the meme coin.

The big holders, according to the data provided by one of the crypto investors on X, amassed their positions in DOGE considerably over the past 24 hours. 

Such an increase in the actions of the whales is usually followed by an upward or downward price volatility. This development has also generated some hype regarding the possibility of Dogecoin price recovery. 

This aggressive buildup by large investors may reflect the optimism of future returns or future catalysts. Whale behavior is also a major market sentiment of Dogecoin.

Glassnode Dogecoin data indicates that there are changing market conditions with a decreasing portion of DOGE supply in the profit.

The seven-day moving average shows that there are still less profitable holders than there were at previous peaks. This pattern is common when Dogecoin passes through periods of consolidation or correction in the price cycle.

The historical patterns have been that of sharp declines in supply-in-profit level with market pullbacks. They are also likely to stabilize, and then a new upside momentum can be experienced.

Dogecoin Price Holds $0.13 Support While Recovery Attempts Stall

The DOGE price is trading near $0.130, reflecting continued downside pressure on the 4-hour timeframe. 

The price of Dogecoin is limited at less than the resistance level of less than $0.14, following multiple unsuccessful attempts at recovery.  Dogecoin Price structure reflects a less high structure, which validates a long-term bearish trend.

The MACD indicator remains below its signal line, which indicates minimal bullish follow-through. The bars on the histogram are not deep, indicating consolidation instead of a vigorous reversal. The RSI is also weakly trading at an average of 37 and is not in oversold conditions.

On the upside, immediate resistance for the Dogecoin price outlook is at $0.14.A breakout above this level could shift focus toward the $0.15 range.

The major support is at $0.13 that has been tested many times. Once a clear breakdown happens, DOGE may lead to the entry point of the $0.12 support area.  When bearish momentum becomes fast, there is a possibility that $0.115 will serve as an extended downside target.