Dogecoin (DOGE) traded at $0.1118 at the time of writing, with 24-hour trading volume at $1.77 billion, according to data from crypto.news.
DOGE rose 4% in the past day and gained 14% over the past week.The move pushed Dogecoin above the key $0.109 level during early Asia trading.
Bitcoin also moved above $80,000 during the same period, helping lift broader crypto market sentiment.
Whale buying draws market attention
Crypto analyst Ali Martinez said whales accumulated 160 million DOGE in the last 96 hours. At current prices, the purchase was worth about $18 million.
The buying added to recent whale activity around Dogecoin. As we reported last month, Martinez also said large holders bought more than $330 million worth of DOGE during a period of tight price movement.
DOGE traders watch support and resistance
The latest DOGE move came in a sharp volume burst from around $0.1075 to $0.1119. That type of move often shows concentrated buying rather than slow retail activity.
Traders are now watching whether $0.109 can hold as near-term support. If DOGE keeps that level, the next resistance sits near $0.114. A drop below $0.109 could show that the breakout has failed.
Meanwhile, on May 1, Santiment data showed a rise in large Dogecoin transactions. The network recorded 739 transfers above $100,000 in one day.
Large holders now control 108.52 billion DOGE, a record level. Santiment said, “the memecoin’s +14% price rise over the past 10 days is very likely not just a coincidence.”
Dogecoin’s market cap stood at $17.21 billion, based on a circulating supply of 150 billion DOGE. For now, whale buying, higher volume, and the $0.109 support level remain the main areas traders are watching.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
