Dogecoin (DOGE) has experienced a dramatic 112% weekly surge in whale accumulation, with large holders controlling over 0.1% of the supply significantly increasing positions despite modest price action. According to IntoTheBlock data, netflows from these major investors grew by 111.97% over the past week, signaling renewed institutional confidence reminiscent of 2021 bull-run patterns.
Currently trading at $0.172 (a 5% 24-hour gain), DOGE recently broke above the critical $0.16 resistance level and is retesting a descending trendline formed between late May and mid-June. Technical analysts identify three near-term targets: $0.20333, $0.22899, and $0.25383. Notably, a multi-year cup-and-handle pattern suggests potential for a 345% rally to $0.75 if DOGE decisively breaches the $0.186 confluence zone.
Derivatives markets echo this optimism, with open interest exceeding $2 billion (a 21% July increase) and positive funding rates peaking at 0.01% on July 6. The MACD indicator nears a golden cross on weekly charts, while the RSI climbs toward neutral territory, indicating waning sell pressure. A fractal pattern mirroring DOGE's 2015-2017 cycle further supports bullish reversals, contingent on October's U.S. spot DOGE ETF decision.