- Dogecoin surged 5% as whales accumulated over 100 million DOGE and traders spotted bullish technical patterns suggesting a breakout.
- Growing ETF approval odds and a potential shift in market momentum toward altcoins are fueling optimism.
Dogecoin (DOGE) is once again grabbing headlines after a sharp 5% price spike this week, driven by surging whale activity and bullish technical signals. According to crypto analyst Ali Martinez, Dogecoin whales snapped up over 100 million DOGE in the past seven days. This kind of accumulation typically hints at large players positioning ahead of a major move—and traders are watching closely.
Technical Breakout in Sight? Traders Say “Yes”
Market analysts are increasingly bullish. One trader, known as Crypto Bullet, identified a rare “accumulation cylinder” on DOGE’s chart—a pattern historically linked to explosive breakouts once accumulation finishes. Kevin, another analyst, pointed out that the Relative Strength Index (RSI) remains far from overbought and is currently at levels last seen when DOGE traded near $0.11.
Furthermore, the monthly supertrend hasn’t yet turned vertical, suggesting there’s still plenty of upside potential. Kevin also believes easing monetary policy and a potential summer peak in Bitcoin dominance could set the stage for an altcoin rally—led by Dogecoin.
ETF Optimism Adds Fuel to the Fire
In another bullish twist, Bloomberg ETF analyst Eric Balchunas raised Dogecoin spot ETF approval odds to 80%, up from 75% in February. The SEC’s final deadline to approve ETF applications from Grayscale, Bitwise, and 21Shares is October 17, 2025. This ETF optimism could further accelerate DOGE’s momentum if the market senses regulatory green lights on the horizon.
Traders Caught Off Guard, Market Confidence Rebounds
Data from Coinglass shows $2.48 million in DOGE liquidations recently, with a majority—$2.09 million—being short positions. This suggests many traders were betting against DOGE and got squeezed. Meanwhile, a 3.7% rise in open interest signals renewed confidence from investors entering fresh positions.
Dogecoin Poised for Breakout: All Eyes on the Meme Coin’s Next Move
While there’s no single clear catalyst, a perfect storm of whale activity, bullish technicals, ETF speculation, and a shift in macro conditions could send Dogecoin higher in the coming weeks. As altcoin season nears, DOGE may once again lead the pack.
