Dogecoin Whale Activity Sparks Rally—Can DOGE Pump to $0.30?

Whales are gobbling up DOGE again—just in time for another meme-fueled price surge. The coin’s 24-hour trading volume spiked 40% as deep-pocketed traders piled in, triggering whispers of a run toward $0.30.

But let’s be real: this is the same ’fundamental analysis’ that had retail investors holding bags at $0.70 during the last hype cycle. Proceed with caution—and maybe keep an eye on those whale wallets.

Dogecoin Records Increased Whale Wallet Movement

Ali charts, a well-known crypto analyst has recently posted a tweet on his “X” (Previously Twitter) about the on-chain sentiment of the DOGE memecoin. Through his post, he highlights the bullish increase in the dynamics of the largest memecoin.

Whales have bought over 1 billion #Dogecoin $DOGE in the past month! pic.twitter.com/VVzwO7yLnM

As per the latest data of Santiment, a highly-reputed on-chain platform, the Dogecoin crypto whales have made a collective purchase of over one billion dollars. This highlights a steady rise in the accumulation phase among the whales and institutional investors.

DOGE Price Sees Bullish Action

The price of dogecoin memecoin has jumped 4.18% in 24 hours with a trading volume of $2.14 billion. With a market capitalization of $34.12 billion and a circulating supply of 149.28 billion DOGE tokens, this crypto is presently exchanging hands at $0.22777.

The Cross EMA 50/200-day has displayed increased positive influence and is on the path of experiencing a Golden Cross in the daily time frame. This suggests a significant uptrend in the bullish sentiment for the largest memecoin in the market.

Moreover, the Relative Strength Index (RSI) has stabilized above the neutral trendline. Moreover, its average is about to record a positive convergence in the Dogecoin price chart. This highlights that this meme coin may continue rallying during the coming days.

Will Dogecoin Price Rise Again This Month?

If the odds favor the bulls, the Doge memecoin could retest its immediate resistance level of $0.243. Adding to this, if the bullish sentiment intensifies, in that case, the price of Dogecoin could head toward its multi-month high of $0.286 this month.

Conversely, if the bears gain dominance, it could drop toward its important support level of $0.20. Furthermore, if the bulls fail to regain momentum at that point, this could result in this memecoin plunging toward its May low in the upcoming week.

Also Read: Dogecoin vs Shiba Inu: Which is a Better Investment for May 2025?