Key Notes
- DOGE has recorded more than an 8% increase in price value following whale buyups.
- These whales accumulated 230,000,000 DOGE within 24 hours.
- Experts have already spotted a new resistance forming at $0.222-$0.224.
Dogecoin DOGE $0.22 24h volatility: 4.1% Market cap: $33.44 B Vol. 24h: $2.35 B has recorded more than an 8% increase in price value following some buying actions by whales.
Top cryptocurrency analyst Ali Martinez, aka ali_charts, claimed that some whales accumulated 230 million DOGE within 24 hours, coinciding with the slight rally in the value of the coin.
DOGE Moves From $0.20 to $0.22 in 24 Hours
The massive purchase of 230 million DOGE is an indication that there is still large-scale institutional interest in the canine-themed meme coin.
230 million Dogecoin $DOGE bought by whales in 24 hours! pic.twitter.com/dYiCadxLtz
— Ali (@ali_charts) August 8, 2025
DOGE is currently trading at $0.2229, following an 8.2% increase in price over the last 24 hours. Its market capitalization and 24-hour trading volume are equally at their best at the moment.
The trading volume has increased by 146.64% to reach $2.94 billion while the market cap is at $33 53 billion.
This is a positive shift, considering that the DOGE price was at $0.20 barely 24 hours ago. The sudden gains have caught many traders, investors, and market watchers by surprise.
Experts have already spotted a new resistance forming at $0.222-$0.224, but $0.220 seems to be a stable support level for the memecoin.
DOGE daily price chart. | Source: TradingView
In addition, market participants are looking forward to consolidation before the next directional move with RSI in neutral range and price above the 9-day moving average.
There is a possibility that DOGE will face resistance at $0.23-$0.28 range with a potential breakout to $0.25 or a pullback to $0.18. Both scenarios depend heavily on shifts in momentum.
DOGE still needs to close above the $0.23 level if it intends to confirm a bullish reversal. Failure to break $0.228 could fuel a pull back toward the lower band near $0.18.
This $0.18 price level could be favored by crypto liquidations, which have not gone overboard recently.
Meanwhile, more whale accumulation of the digital asset could serve as a strong catalyst for a price rally.
Some time in July, Dogecoin whales bought 310 million DOGE in a day, and this raised some heat in the ecosystem.
At this point, analysts and market watchers were certain that DOGE would make a larger move towards the anticipated $1 price tag.
There is still time for the coin to hit this level, supported by strong catalysts.
