In recent sessions, on-chain data confirmed that Dogecoin whales purchased more than 158 million DOGE, reducing available supply on exchanges. This surge in accumulation has reignited bullish sentiment across the market, with analysts pointing to $0.29 as the decisive resistance level that could unlock further gains.
At press time, the Dogecoin price is hovering near $0.28, just below a major resistance zone at $0.29. This level has rejected multiple rallies since March, making it a crucial barrier for bulls. If buyers succeed in pushing past this threshold, analysts believe DOGE could quickly retest higher targets.
Dogecoin faces a decisive test at $0.29, with a breakout potentially propelling prices toward $0.36 and $0.45. Source: Ali Martinez via X
The next immediate resistance sits at $0.36, a level where profit-taking has historically taken place. A sustained breakout could further extend the rally toward $0.45, establishing a stronger technical outlook. In the event of another rejection, Dogecoin is expected to consolidate within the $0.24–$0.26 support range.
Beyond whale activity, chart patterns are also fueling optimism. DOGE recently tested the upper Bollinger Band, a move that has previously triggered rallies in April, July, and August earlier this year. Trader Tardigrade highlighted the repeating setup, noting that each prior breakout led to double-digit percentage gains.
This move signals renewed momentum and suggests that after a pullback, Dogecoin may be gearing up for a fresh uptrend. Source: Trader Tardigrade via X
“The tightening of Bollinger Bands often signals incoming volatility,” Tardigrade explained. “With DOGE once again pressing the upper band, odds favor an upside breakout.”
The bullish sentiment coincides with growing anticipation around the first U.S. Dogecoin ETF. Whale accumulation of over 280 million DOGE has been reported in the days leading up to the ETF’s expected debut. Bloomberg analysts project that multiple DOGE-based ETFs could list by mid-October, marking a potential milestone for the future of Dogecoin as an institutional asset.
A Dogecoin ETF launching this Thursday under the ticker $DOJE could act as a catalyst for the next altseason. Source: Wise Wizz via X
Bloomberg senior ETF analyst Eric Balchunas observed that while early inflows into a Dogecoin ETF may be modest, regulated products have the potential to gradually institutionalize the asset. He emphasized that such an ETF would not eliminate volatility but could legitimize Dogecoin in the eyes of traditional investors.
Longer-term charts indicate that Dogecoin remains in an accumulation phase, resembling previous cycles in 2017 and 2020–2021. These periods were characterized by extended sideways trading, followed by sharp rallies once demand outpaced supply. Analyst Tardigrade argued that the current setup may represent the final accumulation stage before another significant upswing.
Historical data support this perspective, showing that DOGE tends to consolidate before staging substantial breakouts. If the pattern holds, the current whale-driven accumulation and ETF catalyst could combine to spark the next Dogecoin bull run.
With over 400 million DOGE bought by whales in recent weeks, technical patterns falling into place, and ETF speculations ruling the headlines, the market prospect looks better and better. Short-term estimates put the Dogecoin price target at $0.36 to $0.45 if bulls manage to clear resistance at $0.29.
Dogecoin was trading at around $0.27, down 4.58% in the last 24 hours at press time. Source: Brave New Coin
For longer time frames, many investors still wonder: Will Dogecoin hit $1? While not guaranteed, institutional participation through ETFs and repeated whale accumulation strengthen the case for higher valuations.
As of now, Dogecoin’s path depends on breaking key resistance levels, maintaining whale-driven momentum, and capitalizing on broader market liquidity. Whether this will mark the start of another historic rally or remain a consolidation phase will soon become clear.
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