Dogecoin Recovers to $0.088 as Whales Split on Buying

TL;DR

• Dogecoin traded around $0.088 on Monday after gaining nearly 6% last week.

• Spot DOGE ETFs recorded $284,510 in net inflows last week following a quiet period.

• Two large-wallet groups accumulated a combined 120 million DOGE since Thursday, while another group sold 90 million.

• Futures data showed sell-side dominance, tempering the positive signals from ETF flows and wallet activity.

Dogecoin extended its recovery on Monday, trading around $0.088 after rising nearly 6% last week. Renewed inflows into spot DOGE exchange-traded funds and buying by some large holders have supported the move.

Spot DOGE ETFs attracted $284,510 in net inflows last week, according to SoSoValue, after activity remained muted in mid-September. 

The inflow signals some returning demand, although its modest size offers limited evidence of a sustained shift in investor appetite.

Further inflows this week could support DOGE’s recovery. For now, traders are also watching whether the token can hold its recent gains.

Large Wallets Show Mixed Buying Patterns

Santiment data shows that two groups of large DOGE holders accumulated a combined 120 million tokens since Thursday. 

Those groups held between 100,000 and 1 million DOGE and between 10 million and 100 million DOGE per wallet.

Over the same period, wallets holding between 1 million and 10 million DOGE sold 90 million tokens. Buying across the first two groups therefore exceeded selling by the third group by 30 million DOGE.

The figures point to a mixed picture among large holders. While some wallets have increased their positions, another sizable group has reduced its exposure.

CryptoQuant data adds a note of caution to Dogecoin’s recovery. The firm’s market summary shows large orders from whales in DOGE futures, alongside sell-side dominance. It also flags signs of heating in the spot market, while other indicators remain neutral.

These readings suggest traders have yet to show broad conviction in a stronger rally. Continued selling in futures could make it harder for DOGE to break through nearby resistance, even if ETF inflows persist.

Dogecoin Price Faces $0.093 Moving Average Test

DOGE is holding above its 50-day and 100-day exponential moving averages, both near $0.082. That provides support for its recent recovery, but the token remains below the 200-day EMA around $0.093.

The Relative Strength Index is in the mid-50s, consistent with modest positive momentum. Meanwhile, the Moving Average Convergence Divergence indicator is hovering around zero, suggesting that upward momentum has not strengthened decisively.

DOGE’s immediate resistance sits near $0.088. A sustained move above that level would bring the 200-day EMA at $0.093 into focus, followed by horizontal resistance around $0.102.

If the recovery falters, the moving averages near $0.082 provide initial support. A deeper decline could test the $0.070 floor, a level buyers would need to defend to keep the developing recovery intact.