Dogecoin traded slightly above $0.15 on Wednesday, posting a small 0.53% gain over the past day. While the broader crypto market continues to face selling pressure, overall sentiment has begun to stabilize. Large investors, however, are showing renewed interest. On-chain data reveals that whales have accumulated 27.4 billion DOGE, suggesting a strong bullish outlook.
This modest recovery follows a period of narrow price movement and low volatility that previously signaled a bearish trend. The shift indicates that Dogecoin may be preparing for a price rebound if momentum continues.
Meanwhile, several altcoins such as CRO, STRK, and MYX enjoyed significant gains. In contrast, major assets including Bitcoin, Ethereum, and Solana traded mostly sideways, showing only brief consolidation phases.
Strong Support Emerges as Whales Buy at $0.08
Recent on-chain data highlights a major accumulation zone around $0.08, where approximately 27.4 billion DOGE has been gathered. Glassnode’s cost basis distribution heatmap shows a dense cluster of wallets holding Dogecoin between $0.079 and $0.082, representing the strongest support level for the token. High accumulation zones like this often act as solid bases during corrections or shifts in market sentiment.
Exchange Supply Turns Positive, Hinting at a Rebound
Dogecoin’s exchange net position recently shifted to a positive reading after a long stretch of outflows. Historically, this type of transition has aligned with sharp price recoveries. Glassnode data suggests that similar supply flips in the past have led to strong upward moves, signaling renewed confidence from investors. The market will be watching closely to see how DOGE responds to this supply change.
Can Dogecoin Hold the $0.150 Support?
At the time of writing, Dogecoin was trading around $0.158. The MACD indicator showed a slight bullish crossover, and the histogram flipped positive, revealing early buyer strength. The RSI hovered in the low-40s, reflecting neutral momentum.
If DOGE manages to stay above the $0.150 support zone, it could attempt a move toward $0.170. A breakout above this level may open a path toward $0.185, and eventually $0.20. However, if support fails, the chart suggests lower targets near $0.145 and $0.140.
