- Dogecoin (DOGE) forms a golden cross after defending key $0.22 support.
- Whales accumulate 450M DOGE as bearish pressure eases.
- Analysts see $0.33–$0.37 targets with $1 possible by 2026.
Dogecoin (DOGE) has returned to the spotlight after weeks of consolidation, with technical signals and on-chain activity painting a bullish picture for the popular memecoin.
Once seen just as a playful digital token, DOGE now commands a market capitalisation of nearly $39 billion and continues to attract both retail and institutional attention.
Golden cross sparks optimism
One of the most striking developments on Dogecoin’s chart is the formation of a golden cross, a technical pattern that occurs when a short-term moving average climbs above a longer-term one.
Historically, such a formation has preceded strong rallies in both Dogecoin and the broader altcoin market.
In addition, DOGE recently defended its $0.22 support zone, where the 0.618 Fibonacci retracement level intersects with the point of control, and has since been on a bullish trend.
Momentum indicators also support this outlook, with a hidden bullish divergence being confirmed on the Relative Strength Index (RSI), while the MACD lines are close to a bullish crossover.
These signals suggest that buyers are slowly regaining control of the market and that a continuation of the uptrend could follow.
The immediate hurdle remains the resistance around $0.2737, with a successful breakout potentially opening the path to $0.37 in the short term.
Whales accumulate DOGE as pressure eases
On-chain data shows that large holders have been quietly accumulating Dogecoin during recent pullbacks.
Santiment’s supply distribution figures reveal that wallets holding between 100,000 and 1 million DOGE tokens, along with those in the 10 million to 100 million range, accumulated about 450 million tokens in late September.
At the same time, mid-sized holders reduced their positions, suggesting some capitulated while stronger hands seized the opportunity to buy at lower prices.
This accumulation has been accompanied by a shift in sentiment in derivatives markets.
The long-to-short ratio on Coinglass has risen above one, indicating that more traders are betting on upside rather than further declines.
Dogecoin price outlook: key levels to watch
After months of pressure and a 23% decline from its September peak, Dogecoin (DOGE) appears to have stabilised and is regaining momentum.
With bearish pressure fading and buyers stepping in, market conditions appear more favourable for a breakout.
The bullish technical signals, on-chain accumulation by whales, and improving sentiment in the derivatives market all point toward a bullish outlook.
And while risks of volatility remain, the alignment of bullish indicators has revived the debate over whether Dogecoin could stage another breakout.
A decisive close above $0.256 would confirm strength and increase the chances of a rally toward the $0.311 resistance zone.
And should momentum continue, a push through $0.2737 could pave the way for higher targets that analysts have pointed out, including $0.37.
On the downside, a failure to hold current levels could see DOGE retest $0.22, and in a deeper correction, the price could revisit $0.18.
However, positive readings from the Chaikin Money Flow (CMF) index suggest that selling pressure is not overwhelming, reducing the likelihood of a significant breakdown.