Dogecoin Forms Cup & Handle as Whales Buy 30M $DOGE

Key Points

• Whales bought 30M DOGE, raising total holdings to 10.77B, signaling renewed confidence.
  
• DOGE forms a bullish cup-and-handle pattern, with breakout targets near $0.30.
  
• RSI crossover and $10B open interest confirm strong long-term momentum for DOGE.
  

Dogecoin (DOGE) continues to attract renewed investor interest as whale wallets accumulate over 30 million DOGE in the past 24 hours. According to on-chain data from Santiment, shared by ali_charts, wallets holding between 1 million and 10 million DOGE now control nearly 10.77 billion DOGE in total.

This accumulation comes as Dogecoin trades near $0.255, rebounding from lows around $0.21 earlier in the week. Historical patterns show similar buying phases often precede sustained bullish rallies, reflecting rising confidence among large investors.

Analyst Trader Tardigrade identifies a cup and handle formation on Dogecoin’s 4-hour chart, confirming a handle breakout above the $0.255–$0.26 zone. The structure signals a potential continuation toward $0.30, provided momentum and trading volume hold above key resistance.

The setup aligns with broader accumulation trends, as recent whale activity reinforces the technical breakout. Sustained buying pressure could strengthen Dogecoin’s short-term uptrend and pave the way for a larger market reversal.

Ascending Triangle and RSI Crossover Strengthen Long-Term Bullish Outlook

Moreover, Bitcoinsensus highlights a broader ascending triangle pattern forming on Dogecoin’s higher timeframe chart. The structure shows higher lows converging toward resistance at $0.27, suggesting that an upside breakout could target the $0.48–$0.50 range.

In addition, MikybullCrypto points to a major RSI crossover above the SMA line on Dogecoin’s monthly chart. This indicator historically precedes strong rallies, as seen in previous surges from $0.07 to $0.45, signaling renewed long-term strength.

These multiple bullish signals across timeframes indicate improving momentum and investor participation. The combination of pattern confirmations and rising volume supports a favorable outlook heading into October.

According to CoinGlass data, Dogecoin also dominates the memecoin derivatives market with over $10 billion in open interest. This figure far exceeds competitors such as WIF, BONK, and SHIB, confirming DOGE’s position as the most actively traded memecoin in the current market cycle.