DOGE has seen a 112% weekly surge in whale accumulation after a month of flat price action and low volatility, hinting at growing bullishness for the near-term Dogecoin price outlook.
The meme coin has been stuck in a narrow range between $0.176 and $0.126, with no significant momentum to break decisively in either direction.
According to IntoTheBlock data, netflows of large Dogecoin holders spiked 111.97% over the past week, pointing to renewed interest from smart money players.
Large holder netflow sees weekly rise. Source: Intotheblock.With the “Liberation Day” tariff pause extended to August 1 and expectations of 0.25%–1% rate cuts starting as early as July, macro FUD is giving way to a risk-on environment.
While DOGE has largely shrugged off wider market narratives, speculative interest now appears to be building with these bullish developments
Open interest maintains levels above $2 billion for the first time since June, up 21% since the month began, according to Coinglass data.
Open interest continues to rise in July. Source: Coinglass.Derivative traders are increasingly active in Dogecoin price moves, and a positive funding rate at 0.21% shows sustained demand for long positions—traders are betting on a price increase.
Dogecoin Price Analysis: Why are Traders Betting on DOGE Now?
The resurgence of derivatives market interest and smart money comes as DOGE eyes confirmation of a breakout from a four-year cup-and-handle pattern.
DOGE / USDT 1-week chart, imminent cup-and-handle pattern breakout. Source: TradingView, Binance.Dogecoin price now approaches a critical confluence zone formed by historical support dating back to mid-2024 and the upper trendline of the handle.
If this structure holds, the historical support could serve as a launchpad for the pattern’s technical target of $0.75—a potential 345% move from current levels.
Momentum indicators back this outlook. The RSI is steadily climbing toward the neutral line, currently at 43, signaling waning sell pressure as buyers step in.
More so, after a failed crossover attempt, the MACD line now approaches a golden cross with the signal line. On the weekly timeframe, this suggests a long-term uptrend may be taking root.
For this breakout to fully materialize, a market-warming catalyst—such as the October 17 U.S. spot DOGE ETF decision—will likely play a key role.
Immediate resistance at $0.186 remains the key threshold for a decisive breakout. A rejection here risks confirming a false breakout, putting pressure back on the historical support zone.
If rejected, the next major support level lies 45% lower at the mid-2024 market bottom around $0.09.
This Under-the-Radar Narrative Could Be the Next Big Play
The last bull run collapsed when the now-bankrupt exchange giant FTX was exposed for misusing customer funds—the narrative of the next bull run will have an emphasis on security and self-storage.
Best Wallet ($BEST) aims to fill this gap as the next-generation self-custody solution, bringing a robust set of features to challenge the dominance of MetaMask and Phantom.
But it’s more than just a wallet. It introduces innovative tools like “Upcoming Tokens”—a crypto screener that helps users spot early opportunities while they still fly under most investors’ radar.
This utility extends to TradFi with Best Card, replacing the traditional debit card. It allows seamless real-world transactions using stablecoins anywhere that Mastercard is accepted.
This vision has already attracted over $13.7 million in initial funding for its $BEST utility token. The Best Wallet app is already available on Google Play and the App Store.
To learn more about Best Wallet, follow its official X, Telegram, or visit the Best Wallet website.
The post Dogecoin Price Prediction: Whale Activity Surges 112% – DOGE Could Explode 345% appeared first on Cryptonews.
