Dogecoin whales accumulated 200 million tokens through Robinhood as futures open interest climbed to $1.08 billion, setting up a potential squeeze near the $0.074 liquidation zone.
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Dogecoin holds near $0.073 as whales buy 200M DOGE worth $14M
Dogecoin whales accumulated 200 million tokens through Robinhood as futures open interest climbed to $1.08 billion, setting up a potential squeeze near the $0.074 liquidation zone.
Dogecoin held near $0.0732 on July 20 after whales accumulated 200 million DOGE worth $14 million through Robinhood.
"Strong accumulation of DOGE is occurring during the current sideways movement," CW, a crypto analyst, said, adding that the relative strength index was rising and the accumulation score had reached 100.
Futures open interest rose 3.74% to $1.08 billion, while derivatives volume jumped 114% to $739.56 million, Coinglass data shows. CoinGlass's three-day liquidation heatmap shows DOGE trading between large leveraged-position clusters near $0.074 and $0.071, leaving the token exposed to volatility in either direction.
A move above $0.07539 — the upper Fibonacci resistance on the four-hour chart — could open a path toward $0.07965, where the daily Supertrend resistance sits. A failure to hold $0.0710 would expose the dense liquidation zone near $0.0708 to $0.0710, where a breakdown could trigger cascading long liquidations.
Whale Accumulation Signals Smart Money Positioning
The 200 million DOGE purchase, flagged by on-chain watcher dogegod on X, was executed through Robinhood. Whale accumulation during sideways price action often precedes directional moves, though the impact depends on whether the acquired tokens move to long-term wallets or return to exchanges.
The four-hour chart shows improving momentum. The relative strength index rose to 55.45, above its moving average of 46.42, indicating buying pressure without overbought conditions. The Aroon Up indicator hit 100%, supporting the latest rebound from the lower end of the range.
Analysts Eye Breakout Above Key Resistance
Crypto analyst Javon Marks described the current phase as temporary post-breakout stagnation similar to structures that preceded previous Dogecoin rallies, listing targets of $0.653, above $0.70, and beyond $1.25. A separate analyst identified a weekly double-bottom pattern with a hypothetical extended target near $3.25, contingent on a decisive weekly breakout above the pattern's neckline.
Broader market conditions offered some support, with Bitcoin holding above $64,000 and Ethereum trading over $1,870. XRP remained below $1.10, indicating gains were uneven across large-cap cryptocurrencies.
This article is for informational purposes only and does not constitute investment advice.
