Dogecoin whales are making bold moves, and it’s starting to reflect on the charts. Over the past month, wallets holding between 100 million and 1 billion DOGE have added more than 1 billion tokens, according to on-chain data shared by crypto expert Ali. This accumulation brings their total holdings to one of the highest levels in recent weeks, signaling growing confidence among larger market participants.
The timing of this accumulation stands out. Just as whales were building positions between May 4 and May 7, DOGE price reversed its short-term downtrend and surged from $0.13 to a high of $0.22. This 57% rally unfolded almost in sync with the spike in whale holdings, indicating that big players may have been anticipating or even driving the breakout.
Whales have bought over 1 billion #Dogecoin $DOGE in the past month! pic.twitter.com/VVzwO7yLnM
— Ali (@ali_charts) May 16, 2025
Looking at the 4-hour chart, Dogecoin is consolidating between $0.22 and $0.24, following its move above the 200-period simple moving average, which now sits around $0.183. This average had capped upside momentum for weeks, but has since flipped into dynamic support. As long as the DOGE price remains above this level, bulls are likely to maintain control. Key resistance lies near $0.26, with a breakout above that level potentially opening the path to $0.30.
On-chain metrics support the current setup. According to a second chart shared by Ali, active addresses, transaction volume, and whale transactions have all increased during the recent rally. Notably, whale transaction counts above $100K surged during the price breakout, and active user engagement has remained elevated even during consolidation. This suggests strong participation from both retail and institutional players.
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#Dogecoin $DOGE is seeing a rise in active addresses, transaction volume, and whale activity. All bullish signals that could support further upside! pic.twitter.com/pRHObYo60J
— Ali (@ali_charts) May 16, 2025
Technicals remain neutral to bullish. The RSI sits around 51, having reset from overbought levels, providing room for another potential move up. As long as DOGE price holds above its key supports and on-chain metrics stay elevated, the structure favors continued upside momentum.
What’s next? If DOGE can push past $0.24 with volume, the next stop could be $0.27–$0.30. And if whale accumulation continues at this pace, it may not be long before those targets are tested.
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