Dogecoin initially dropped sharply from around $0.129 to near the $0.121 support zone, indicating strong early selling pressure. Price then rebounded aggressively, reclaiming the $0.125 level and breaking higher with a clear impulse move. DOGE is now consolidating near $0.129, suggesting short-term strength as buyers defend gains just below the $0.13 resistance area. As of this writing, DOGE is exchanging hands at around $0.1294 with a 24-hour gain of 0.48%. DOGE price chart, Source: CoinMarketCap Dogecoin Whales Go Silent as DOGE Consolidates Near Key Support Levels According to analyst Ali Martinez, the chart indicates that Dogecoin whale holdings declined sharply from late October, when DOGE was trading near the $0.08–$0.09 range, into early December as prices slipped toward the $0.07 area. This period marked a clear distribution by large holders. However, once DOGE stabilized around the $0.07–$0.075 zone, whale activity flattened out, with balances remaining nearly unchanged for the past four weeks, signaling a pause in both accumulation and selling. Martinez explains that this extended whale silence suggests uncertainty at current price levels rather than outright bearish conviction. With DOGE consolidating near key support and whales holding roughly steady around 17.4 billion DOGE, price action is now largely influenced by retail traders and short-term momentum. Historically, such low whale engagement near support levels often precedes a decisive move, with renewed accumulation potentially pushing DOGE back toward higher resistance zones. At the same time, fresh distribution could expose the token to another downside test. Dogecoin Breaks Long-Term Trendline, Echoing the Explosive 2014–2017 Cycle According to analyst Trader Tardigrade, the 2-week Dogecoin chart shows a decisive break above a long-term ascending trendline, a structure that closely mirrors the market behavior seen during the 2014–2017 cycle. In that earlier period, DOGE spent years respecting a rising support line before finally breaking above it, marking the transition from accumulation to a powerful expansion phase. The current 2021–2026 structure appears to be following the same rhythm, with price recently pushing above the trendline that has guided DOGE since its post-2021 decline. Source: X Trader Tardigrade notes that in the 2014–2017 cycle, a similar breakout occurred when DOGE was trading near the $0.0002–$0.0003 range, shortly before a parabolic rally unfolded. In the present cycle, DOGE is now breaking its multi-year trendline around the $0.12–$0.14 zone, suggesting a comparable shift in long-term momentum. If the historical analogy continues to play out, the breakout could signal the early stages of a larger upside move, with sustained strength above the trendline acting as confirmation that Dogecoin has entered a new bullish phase.
