Dogecoin (DOGE) is recording increased whale activity, a move that could set the stage for the meme coin to make another attempt at the $0.50 resistance.
On-chain data indicates that the largest holders accumulated about 680 million DOGE within 96 hours, according to insights shared by Ali Martinez on September 16.
The buying spree, which involved wallets holding between 100 million and 1 billion DOGE, coincided with a notable price rally. Dogecoin climbed from around $0.22 at the start of September to a peak above $0.28 before pulling back slightly.
Such accumulation often precedes strong price movements, potentially laying the groundwork for DOGE to challenge the psychological $0.30 resistance.
Key DOGE price levels to watch
If bullish momentum holds, traders are eyeing the $0.35–$0.40 zone as the next hurdle. A breakout above these levels could set the stage for a run toward the highly anticipated $0.50 milestone, last seen during the previous bull cycle.
However, failure to hold support near $0.25 could undermine the bullish thesis and trigger a deeper correction.
Adding to the optimism, pseudonymous cryptocurrency analyst Trader Tardigrade suggested in an X post on September 15 that DOGE might be laying the foundation for a new record high later this year, with a potential surge to between $3.2 and $5.3 by December 2025.
Historically, Dogecoin has shattered its all-time highs with strong, rapid moves in each cycle. In previous runs, DOGE gained more than 1,500% in 111 days and over 2,500% in just 99 days, showcasing its tendency for parabolic breakouts.
So far, this cycle has yet to see such explosive action. If history repeats, a fast rally toward multi-dollar levels could still be ahead.
Dogecoin price analysis
At press time, Dogecoin was trading at $0.27, up nearly 1% in the past 24 hours and almost 6% on the weekly chart.
With whale accumulation and technical indicators signaling a possible rally, Dogecoin now needs support from the broader cryptocurrency market to sustain any bullish push toward the $3 resistance.
Featured image via Shutterstock
