Dogecoin whales went on a buying spree last week, accumulating roughly 160 million DOGE — worth about $18 million — over a 96-hour window ending May 4. The move pushed the meme token above the $0.11 resistance level that had capped its price for months, with large-holder balances rising from 17.82 billion to 18.15 billion DOGE. Whales now control about 11% of the circulating supply, according to on-chain data.
Whales move in
The accumulation wasn't subtle. Large-holder balances climbed by 330 million DOGE in just four days. That kind of concentrated buying tends to draw attention, and traders responded. Open interest in DOGE futures jumped nearly 30% to $1.77 billion over the past week, with the long/short ratio sitting at 1.8 — meaning more longs than shorts. Bitcoin reclaiming $80,000 provided a tailwind for the whole crypto market, but DOGE's move was its own story.
Price breaks resistance
DOGE surged from $0.1075 to $0.1119 in a single high-volume burst. Volume spiked to around $2 billion, signaling real participation — not just a few whales pushing the price around. Technical indicators lined up, too. Both the MACD and the Stochastic RSI flashed buy signals simultaneously on TradingView. The token is also holding above multiple key exponential moving averages, a classic bullish setup. But it hasn't yet reclaimed the 200-day EMA, which remains overhead.
What traders are watching
Key support sits at $0.109. If that holds, the next targets are $0.12 and then $0.13. The RSI is elevated, though, which raises the risk of a pullback toward $0.10 before any continuation. That's a common pattern after a fast move — traders take profits, shake out latecomers, then the trend resumes. The question is whether the whales who loaded up last week will hold or start distributing.
Risks remain
The timing isn't perfect. The broader market is still sensitive to macro news, and DOGE's rally came alongside a general crypto uptick. If Bitcoin loses $80,000, the altcoin gains could unwind quickly. And while the accumulation is a strong signal, it only covers four days — not a long-term trend. The next test will be whether DOGE can hold above $0.11 through the week.
Meanwhile, a new meme token called Maxi Doge is in presale at roughly $0.0002816, having raised around $4.76 million with promises of staking, competitions, and a treasury. It's too early to say whether it will follow DOGE's trajectory — or just add to the noise.
