Dogecoin eyes 145% rally as whales accumulate 430M DOGE

Dogecoin traded at $0.07016, up 0.54% in 24 hours as of 01:59 UTC Sunday, as analyst Ali Martinez projected a 145% monthly rally, citing a bullish technical setup and whale accumulation.

"If history repeats, the next monthly candle could spark a significant move," Martinez said in an X post on Saturday.

The Tom DeMark Sequential indicator flashed a buy signal on Dogecoin's monthly chart last month, mirroring the August 2022 setup that preceded a 145% monthly rally. In that period, DOGE formed an inverted hammer alongside a TD buy signal, followed by a doji candle. The current chart shows a similar pattern: an inverted hammer, a TD buy signal, and a developing doji candle.

Whales accumulated more than 430 million DOGE over the past week, adding conviction to the bullish technical picture. Martinez identified $0.0813 as the key resistance level, where more than 30 billion DOGE previously changed hands. A sustained close above this level could signal further upside, with the next URPD resistance at $0.177.

A 145% upside from current levels would push DOGE to $0.1718. However, prediction markets remain skeptical — Polymarket assigns only a 12% chance DOGE breaches $0.16 in 2026, with a 70% probability of slipping below $0.06.

Derivatives data shows traders positioned heavily toward longs. Binance's DOGE/USDT long-short ratio stands at 3.08, while OKX's account ratio reaches 5.47. Binance top traders hold a 3.7574 ratio by accounts and 3.1459 by positions. DOGE recorded $187.81K in total liquidations over 24 hours, with shorts accounting for $115.38K and longs $72.43K.

The Moving Average Convergence Divergence indicator flashed a "Buy" signal for DOGE, according to TradingView. The Bull Bear Power indicator and Relative Strength Index both read "Neutral."

DOGE currently trades between $0.0695 support and $0.0705 resistance, with an intraday high of $0.07046. The token carries a market capitalization of approximately $10.87 billion. The memecoin has traded sideways between $0.068 and $0.08 since June 25, with a death cross recently appearing on its hourly chart.

Martinez identified $0.177 as the next URPD resistance after $0.0813. Dogecoin would first need a sustained close above the lower level to shift attention toward the higher target. The setup comes as Bitcoin trades near $63,500 following July inflation data that matched expectations, with the broader crypto market showing mixed momentum.

The divergence between technical signals and prediction market odds highlights the uncertainty around DOGE's near-term trajectory. If the TD Sequential pattern plays out as it did in 2022, the memecoin could see its first significant monthly gain in over a year, drawing renewed retail interest across the altcoin sector.

This article is for informational purposes only and does not constitute investment advice.