- DOGE price nears the ascending channel bottom seen before past rallies.
- Whales accumulated over one billion DOGE in just 24 hours.
- Strong support zone forms between $0.18 and $0.19 range.
Dogecoin (DOGE) is currently trading near a historically strong buy zone. Crypto analyst Ali Martinez, Dogecoin has entered a familiar ascending channel visible on TradingView charts dated August 6, 2025.
In previous cycles, specifically 2017, 2020, and 2023 DOGE touched the lower boundary of this channel before initiating explosive price increases.
The chart marks each of these instances with black arrows. The most notable surge followed in 2021, when DOGE reached its all-time high of $0.7395.
Currently, DOGE trades near $0.20, again close to the lower trendline, suggesting the setup could be forming for another rally. This trend channel has consistently acted as a reliable indicator of major upward momentum after consolidation.
Whales Accumulate Over One Billion DOGE
Ali Martinez also reported that Dogecoin whales accumulated more than one billion DOGE within 24 hours. Data from Santiment shows a sharp rise in whale transactions during early August 2025.
This accumulation coincided with a modest recovery in DOGE’s price after a recent dip. Historically, large-scale buying by whales has preceded upward price movements in DOGE.
The data further shows that DOGE had declined from previous highs but rebounded quickly as accumulation picked up, reinforcing this buying trend.
Key Levels in Focus as DOGE Consolidates
Dogecoin is within a strong support zone between $0.18 and $0.19. The price recently bounced from this level, forming a foundation for potential gains.Â
Analysts have identified critical resistance levels ahead, including $0.2485, $0.2875, $0.3429, $0.4111, and $0.4858. A breakout above the $0.24 mark is seen as a trigger for further upward movement.
Current price action aligns with an ascending channel structure, which continues to support a bullish outlook. However, analysts caution that a drop below the established support range would negate this setup.
Dogecoin’s current technical and on-chain setup, along with historical patterns and whale activity, is closely aligning with conditions that have preceded previous rallies.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
