The price of Dogecoin surpassed the $0.22 mark as whales accumulate and the chart shifts to a bullish trend?

Technical analysts have noted a remarkable bounce back in the price of Dogecoin from the Ichimoku cloud support zone, coinciding with strong accumulation activity from large wallets as DOGE approaches a key resistance zone.

Whales Accumulation – A Sign for a New Bull Cycle of DOGE

Blockchain data from Santiment and Glassnode shows a series of large transactions between long-dormant wallets, with a total value of up to 2.9 million USD DOGE. Experts believe that this Accumulation phase often occurs after a prolonged sideways price period, reflecting the views of long-term investors who see the current price zone as an attractive opportunity to enter the market.

This development could create the necessary momentum for Dogecoin, especially as this cryptocurrency has just gone through a tough period. In the context of declining trading volume from retail investors, large wallets have proactively absorbed the supply, creating a significant shift in ownership structure and harboring the potential for strong volatility in the future.

The clear difference between institutional inflows and retail outflows indicates that the ownership of DOGE is increasingly concentrating among patient investors. Experts compare the current developments with previous accumulation phases – which had paved the way for strong price surges.

They assert that continuous buying during periods of low volatility will strengthen the market structure, creating a solid foundation for future price expansions.

DOGE aims for a new breakout zone

According to Trader Tardigrade's analysis, the price of DOGE has shifted to a positive trend after bouncing back from the Ichimoku cloud (Kumo). The Ichimoku system helps identify trends and market momentum through overlapping moving averages and support zones.

Notably, the Tenkan-Sen and Kijun-Sen lines have formed a bullish crossover above the cloud, marking the return of upward momentum. Trading volume has also surged during the breakout, which experts view as a confirming signal of investor confidence in the new trend.

Since that time, the price of DOGE has consistently maintained above the cloud zone and key conversion lines, reflecting stable buying pressure. Based on technical analysis, experts forecast that DOGE could move towards the $0.215–$0.22 zone, where the Ichimoku cloud will turn into dynamic support if the price breaks out successfully.

However, with the current price at $0.1995, DOGE is still sitting just below the resistance zone. If it cannot close above this zone, the price may continue to bounce back sideways in the short term.

Crypto Bully states that the current market structure of Dogecoin forms a strategic trading zone, with support around $0.175–$0.18 and resistance at $0.218–$0.225. He believes that traders often prefer to buy when the price pulls back to the support zone and take partial profits when the price approaches resistance, while also using VWAP (Volume-weighted average price) to assess the breakout level.

A breakout above the upper VWAP zone will open up a further uptrend for DOGE, while if rejected, the price may revert to balance levels. This movement reflects the characteristics of the accumulation phase before the market enters a period of stronger volatility.

Next prospects for DOGE price

The consensus between the accumulation activity of whales, the price zone structure, and trend indicators is painting a solid recovery picture for Dogecoin. Experts agree that DOGE retains structural strength as long as it stays above the important support zone.

Large transactions from whales and the decline of retail investors indicate that the market is in a phase of re-Accumulation, not distribution. This pattern, combined with increased trading volume at the resistance zone and the upward Ichimoku indicator, suggests that DOGE is building a foundation for a potential medium-term breakout.

Although short-term corrections may occur near the resistance zone, the overall market structure remains favorable for a growth trend as liquidity improves and buying pressure is maintained.

Experts believe that if demand continues to remain stable and market conditions are favorable, the price of Dogecoin could very well head towards the $0.22 zone in the near future.

In summary, DOGE is accumulating within a stable technical framework, supported by the quietly flowing institutional money. The combination of a solid support zone, steady whale money flow, and improving trend signals suggests that Dogecoin is entering an active phase, with the potential for a breakout if the market maintains its current trajectory.

Mr. Teacher