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Dogecoin price has remained quiet for many months, but the data highlights a storm building underneath. This is happening as retail is dumping, whales loading up, and key support levels holding strong, despite a long-term falling wedge.
The ingredients for a DOGE rally are in place for its next big move. Now, analysts and whale behavior both point to one thing and that is a breakout could be very close, which might be much bigger than expected.
According to Santiment on-chain data, wallets that are holding 10 coins to 1 million DOGE has started dropping from June 28 into early July. This reveals important market insights as this means that smaller holders are possibly exiting the market.
But at the same time, wallets that are holding 1 million to 100 million DOGE have been advancing on the chart. These data indications could only mean that whales are absorbing supply at discounted prices, which is a clear sign of silent accumulation.
Adding more weight to this trend, DOGE transactions worth over $100K and $1M have also spiked in the same span. Historically, such whale activity often comes just before major price moves.
On its technical front, the Dogecoin price on the daily chart is stuck in a falling wedge pattern since its peak $0.48 level. Although prices have fallen from peak, but DOGE has never broken below the multi-year support range around $0.13.
The last time a parabolic move was also seen was from the same support range, when Trump won the election in Q4 2024. Since then, this support has been tested thrice in H1 2025, yet it continues to hold. As the wedge gets tighter, the chance of a strong breakout has increased.
When such patterns break, especially after long consolidation, the price can shoot up fast. The current setup looks very similar to past DOGE rallies. Yet, the caution still remains, as three times a level has been retested, the odds of this level weakening are also high. If it goes below $0.13, then lower levels await.
Aligning with the bullish sentiment, an expert Trader Tardigrade has highlighted that Dogecoin is repeating a price pattern that started back in 2014. In previous cycles, DOGE formed a bottom in year 2015, 2020, and 2023, built higher lows, and then exploded upward.
He believes DOGE price is once again setting up for a big move. After building higher lows throughout 2024 and H1 2025, the conditions are aligning for a bullish breakout in H2 2025.
Based on his chart analysis, he expects the price to cross $3.40, a level that may seem far but is possible if the pattern holds.
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