Dogecoin (DOGE) is trading just below $0.26 at the time of writing, down 2.38% over the past 24 hours. The minor pullback follows a short-term rally and appears to be part of normal consolidation after recent gains.
Despite the daily decline, DOGE is still up 10.7% over the past week. The token has been trending higher after breaking out of a prolonged period of sideways trading, signaling renewed bullish momentum.
Whale activity is playing a significant role in the price movement. On-chain analyst Ali Martinez reported that large holders recently accumulated over 30 million DOGE in a single day, highlighting growing confidence in the OG memecoin among major investors.
In addition to whale accumulation, the potential approval of a spot DOGE ETF is fueling optimism. As previously reported by crypto.news, the SEC is expected to approve applications from Bitwise and Grayscale later this month. This follows the September launch of the Rex-Osprey $DOJE ETF, the first U.S.-listed Dogecoin futures ETF, which drew significant institutional attention to the asset.
The positive momentum around “Uptober” is also supporting sentiment and attracting fresh capital. Data from Arkham Intelligence shows that centralized exchanges have seen nearly $700 million worth of DOGE withdrawn over the past week from Binance and Coinbase, indicating strong accumulation by long-term holders.
Dogecoin Price Analysis
Technically, Dogecoin is trading within a rising channel that has been in place since mid-June, marking a clear shift after breaking a long-term downtrend. The recent rebound from the lower channel line near $0.24 in late September confirms ongoing support at this level.
The price is now climbing toward short-term resistance around $0.27. A clean breakout above this level could pave the way to $0.30, which aligns with the upper boundary of the channel and remains a key target for bulls.
The Relative Strength Index (RSI) is currently around 56, indicating moderate bullish momentum without reaching overbought levels. This suggests there is still room for upward movement if buying pressure continues. However, if DOGE fails to surpass the $0.27 resistance, it may consolidate within its current range of $0.24–$0.26 before attempting another move.
Overall, the setup remains tilted toward the bullish side, with the potential for a breakout supported by steady accumulation, favorable RSI levels, and positive market sentiment.
