The crypto market is trading with a mix of red and green today, with the overall market capitalization hovering around $3.2 trillion. The fear and greed index hovers around 20 levels, indicating a bearish sentiment in the market. Dogecoin experienced a sharp drop from around $0.1757 before finding a bottom near $0.159, signaling strong intraday selling pressure. After the decline, the price attempted a mild recovery but continued to fluctuate in a tight range, showing hesitation from buyers. DOGE is currently trading near $0.164 down by 6.98%, indicating consolidation as the market waits for a clearer direction. Whales Accumulate 4.72 Billion DOGE, Signaling Strong Bullish Confidence According to analyst Ali Martinez, highlights a significant accumulation trend among Dogecoin whales holding between 100 million and 1 billion DOGE. Over the past two weeks, these large holders have collectively added 4.72 billion DOGE to their wallets. This surge in accumulation has taken place even as price volatility persisted, suggesting that whales see current levels as a strategic accumulation zone rather than a distribution phase. Their steady buying activity often reflects confidence in DOGE’s medium- to long-term potential. Martinez notes that such a sharp increase in whale holdings is usually a bullish on-chain signal, as it reduces the available supply on exchanges and hints at expectations of future price appreciation. Historically, when whales accumulate aggressively, Dogecoin often sees stronger price momentum afterward. If this trend continues, the supply squeeze created by these major investors could act as fuel for a potential upward move once broader market sentiment aligns. Dogecoin’s Giant Triangle Points to a Major Breakout Ahead Analyst Trader Tardigrade highlights a massive multi-year giant triangle pattern forming on Dogecoin’s long-term chart. This structure has been developing over roughly five years (1,826 days), with price action consistently tightening between the upper descending trendline and the rising support line. Such long-term symmetrical triangles often precede major breakout moves, as they represent years of consolidation where volatility compresses and market participants accumulate positions in anticipation of a decisive trend. Source: X According to the chart, a breakout from this giant triangle could propel Dogecoin toward a projected target of around $1.20, marking a significant bullish expansion if the pattern plays out. Trader Tardigrade’s outlook suggests that once Dogecoin escapes this prolonged consolidation zone, the move could mirror previous explosive rallies flagged by similar volatility squeezes. This setup emphasizes the potential for a dramatic price surge once DOGE breaks above the triangle’s upper boundary on strong volume.
