DOGE Keeps Bullish Momentum While Whales Unload $40M in Advance of Potential Breakout

Dogecoin Consolidates Below $0.26 as Whales Dump $40M, Setting the Stage for a Potential Breakout

Dogecoin has been trading just under the $0.26 resistance level after retreating nearly 18% from its May 10 high, based on recent technical analysis from CoinDesk Research.

In the last few days, large holders—whales—have sold off approximately 170 million DOGE tokens, valued at over $40 million. This significant unloading could be clearing the way for the next upward move.

Price action suggests a classic bull flag pattern, often a bullish continuation signal, hinting that the current pullback is a pause before another surge.

Market experts expect Dogecoin to possibly break out within the next week, aiming for a price range between $0.35 and $0.45 — a potential upside of 52% to 114%.

Technical Insights:

• DOGE climbed from $0.222 to $0.228, forming an ascending channel supported at around $0.218–$0.219.
• Resistance near $0.233–$0.234 led to some profit-taking despite robust trading volume.
• The late-session dip from the day’s high points to consolidation, but the series of higher lows signals ongoing strength.
• DOGE saw a 2.57% correction from $0.233 to $0.227.
• Buyers defended support between $0.227 and $0.228 during multiple attempts.

This blend of whale sell-offs and bullish chart patterns could set Dogecoin up for a strong rally soon.