Dogecoin (DOGE-USD) just put in its strongest rally in weeks. After surging from $0.189 to touch $0.20 on Saturday, the original meme coin flashed real signs of strength. Volume jumped, big wallets loaded up, and breakout levels kept getting cleared. But right as DOGE brushed up against that round 20-cent mark, it ran out of steam.
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It closed the session just below it at $0.198. Not a collapse, but a definite stall.
Dogecoin’s Breakout Levels Keep Climbing
Before the pause, momentum was building fast. DOGE broke through $0.194, then $0.196, and finally $0.198 in quick succession. Each breakout came with a volume surge; over 233 million DOGE traded in the session, well above its daily average. Traders didn’t need charts to see what was happening, because it was evident that this was a crowd piling in.
Whales Make Their Move
What pushed things higher wasn’t just retail. Wallet trackers showed that large holders scooped up more than 310 million DOGE during the rally. This equates to over $60 million at these prices, and frankly this kind of accumulation doesn’t usually happen unless smart money sees room to run.
And while the token couldn’t hold above $0.20 this time, the whales haven’t backed off. If anything, they’ve continued to build. It’s a bullish sign for those looking beyond short-term resistance.
Why $0.20 Matters
Technically, the 20-cent mark is more than a psychological barrier. DOGE has struggled to clear it since early June. Every attempt has been sold off. So when the token briefly broke above and then retreated, it didn’t surprise seasoned traders. This is classic consolidation before a bigger test.
Short-term charts now show a key range between $0.189 and $0.213. If bulls manage to flip $0.20 into solid support, upside targets of $0.206 and $0.212 are back on the table. But if the floor at $0.189 breaks, DOGE could slip back toward $0.14 or lower.
DOGE’s Momentum Cools, But Sentiment Doesn’t
The final hour of Saturday’s trading showed a dip in both price and volume. That suggests the rally hit temporary exhaustion. But exhaustion isn’t the same as reversal. Especially not when whales are still buying and the broader crypto market is mostly flat.
Bitcoin and Ethereum have both gone quiet in recent days. That gives high-beta coins like DOGE more room to move. If volatility returns to the market, meme coins often lead the charge.
DOGE may have stalled at $0.20, but with this much interest from large holders, the next move may be super soon.
