Dogecoin is trading near $0.072, maintaining support above $0.070 as whale purchases and rising derivatives activity draw renewed attention to the meme coin. Whale wallets accumulated 200 million DOGE on Robinhood, equivalent to about $14 million, potentially influencing short-term market sentiment and liquidity.
Market Movements and Derivatives Data
Derivatives trading volume for DOGE surged 114% to approximately $739.56 million in a single session, while open interest increased 3.74% to $1.08 billion, indicating more capital is allocated to active positions. Despite a halt in daily inflows to DOGE spot ETFs on July 17, cumulative net inflows remain at $11.77 million, with total net assets in DOGE ETF products around $10.03 million.
Technical Analysis and Price Targets
Analysts highlight bullish signals from Dogecoin’s weekly TD Sequential indicator, showing multiple consecutive buy signals suggesting a potential major rally. Chart expert Javon Marks notes DOGE has surpassed a key resistance and is consolidating, with price targets at $0.653 and $1.25.
Another analyst, Namtoshi Dogemoto, identified a weekly double-bottom pattern featuring two rounded lows and a neckline between $0.45 and $0.50. A breakout above this level could trigger a larger upward movement, with measured move targets exceeding $3. Similar RSI behavior was observed before the 2024 2025 rally.
Trader Tardigrade emphasized the reliability of this double-bottom formation, forecasting a target near $3.25 based on the pattern's structure.
Material is for informational purposes and does not constitute financial advice.
