- Dogecoin is trading within a rising bullish channel, with strong support from Fibonacci levels, indicating a well-structured upward trend.
- Whale investors have accumulated over one billion DOGE in 24 hours, reinforcing growing confidence and renewed long-term positioning in the asset.
- Open interest has surpassed $3.01 billion with declining volume, signaling stable leveraged longs and expectation of a breakout toward $0.24.
Dogecoin (DOGE) is resurgent, with technical patterns and investor behavior all pointing in the same direction. Signals reveal that there may be a breakout coming, with traders keeping a close eye on the charts, as the upside is estimated to be up to 240%.
Clean Bullish Channel and Key Fibonacci Reload Zone
DOGE is trading within a clean rising channel, often considered a sign of controlled and healthy growth. Crypto analyst Marcus Corvinus highlighted that Dogecoin recently formed a higher low between the 0.618 and 0.786 Fibonacci retracement levels—an area commonly known as the “golden reload zone.”
The structure remains firmly bullish, with higher highs and higher lows continuing to define price action. According to Corvinus, resistance lies ahead at $0.70, placing 240% upside potential on the table from current levels. DOGE appears to be in an early breakout stage, still building momentum after a deep correction.
Corvinus also emphasized that while many traders are focused on other altcoins like ADA, DOGE is quietly preparing for a larger move. The market structure shows strength, and the setup resembles early bull phases seen in previous cycles.
Whale Accumulation and Surging Open Interest
Whale activity has intensified. According to on-chain analyst Ali, over one billion DOGE were purchased by large holders in the past 24 hours. This accumulation signals confidence among major investors, further strengthening bullish expectations.
Meanwhile, CoinGlass data indicates that the open interest in Dogecoin has increased by over $3.01 billion (2.63% over 24 hours). This increase reflects growing leverage in the market as traders position for price continuation.
Notably, while open interest climbed, futures trading volume declined by about 8.9%. This drop suggests traders are not entering new trades aggressively but are instead holding established long positions. That behavior supports a belief in sustained price movement, rather than short-term speculation.
Resistance Targets and Risks of Leverage Shakeouts
DOGE is approaching a critical resistance zone between $0.21 and $0.22. A confirmed break above this area could open the door to a fast move toward $0.24 and beyond. Many traders are already positioned for this breakout, as indicated by the elevated open interest.
However, more leverage means more risk of violent corrections. If DOGE does not hold above key support around $0.20, liquidation events could materialize, resulting in a fast downside. Either way, the current trading price action appears to be confidence in buying, not fear in selling.
As long as the bullish channel holds, momentum remains with the bulls. DOGE’s setup points to a potential explosive move—supported by whale accumulation, rising open interest, and a textbook bullish structure.
