Mog Coin's MOG token experienced a significant 11% daily surge on February 15th, driven by heightened activity from large investors. Data from CryptoQuant revealed a notable expansion in Spot Average Order Size, indicating increased participation from whales who were actively positioning rather than showing passive interest. In the derivatives market, long positions overtook shorts at the current trading level, reflecting trader confidence in the rally's continuation. The Spot Taker CVD (Cumulative Volume Delta) showed renewed Taker Buy Dominance, with buyers entering the market more aggressively than sellers, which aligned with the price breakout.
Technically, MOG rebounded from a descending trendline support and pressed toward the $0.0000020 resistance region. However, momentum indicators like the Stochastic RSI moved into overbought territory, signaling potential for short-term cooling or consolidation. The continuation of the rally depends on sustained demand absorption and dominant long positioning.
Simultaneously, the broader meme coin sector is showing signs of a potential season, heavily led by Dogecoin. Between February 6 and 15, Dogecoin rallied approximately 47%, while the total meme coin market cap climbed around 43%, demonstrating DOGE's continued leadership. Two other major meme tokens, BONK and Shiba Inu (SHIB), are forming key breakout patterns that are highly correlated with Dogecoin's movements.
BONK is forming an inverse head and shoulders pattern on the 12-hour chart, with a breakout level near $0.0000075. A successful breakout could project a move toward $0.000010, a 43% rally. Shiba Inu is forming a bullish flag pattern, with a breakout level near $0.0000069, projecting a potential 43% gain toward $0.0000099. However, analysts note these breakouts may still depend on Dogecoin confirming its own direction.
On-chain data for Dogecoin shows a shift in holder dynamics, supporting a bullish outlook. The Spent Coins Age Band metric dropped sharply by about 64%, indicating holders are staying inactive—a pattern previously seen near local bottoms. HODL Waves data shows short-term holders (1-3 months) reduced their share by 45%, while mid-to-long-term holders (6-12 months) increased their exposure by 7%. Furthermore, the largest whale wallets (holding over 1 billion DOGE) accumulated roughly 280 million additional coins.
Dogecoin itself is forming a cup and handle pattern on the 12-hour chart. The pattern's handle support near $0.103 remains intact. A breakout above the key resistance level of $0.117 could project a move toward $0.180, a roughly 50% rally. The Smart Money Index remains above its signal line, suggesting larger investors have not exited. Risks remain if DOGE falls below $0.098, which would weaken the pattern, or below $0.091, which would invalidate the bullish structure.
