Dogecoin Price Prediction: DOGE recovery stalls amid early signs of whale support
- Dogecoin hovers around a key resistance at $0.077 on Monday, consolidating after the 4% rise on Friday.
- On-chain data shows whale holdings and supply in profit rising, but the declining number of transactions suggests reduced interest.
- DOGE derivatives flash mixed signals as volume drops, but Open Interest and positive funding rates hold.
Dogecoin (DOGE) price nears $0.0770 on Monday, maintaining a broadly consolidative tone for the last three days after Fridayâs 4% rebound. The first-ever meme coin is losing retail interest as DOGE derivatives volume drops, while on-chain data shows early signs that large-wallet investors, commonly referred to as whales, are expanding their holdings.
Technically, Dogecoinâs mild recovery should clear the $0.0770 resistance, potentially extending toward $0.085.
Whales renew support for DOGE as retail stands on the sidelines
Dogecoin is seeing mixed retail interest, even as large-wallet DOGE investors expand their holdings. CoinGlass data show that DOGE futures Open Interest (OI) is largely stable at $1.03 billion on Monday, suggesting that DOGE contract holders have adopted a wait-and-see approach over the last 24 hours. The funding rate of 0.0089% reflects broadly bullish sentiment among traders, who are buying long positions at a premium.
However, the volume has plunged by more than 5% during the same period, suggesting that trading activity has declined and reaffirming the wait-and-see approach among traders.
On the whales' front, investors with over 1 billion DOGE now hold 73.85 billion tokens, up from 72.73 billion tokens on Thursday. However, the sideways movement in the holdings of this cohort of whale holders over the last two days aligns with the consolidation in spot price and a steep drop in whale transactions to 12 on Sunday, down from 47 on Friday.
At the same time, the percentage of total supply in profit has increased to 38.51% from 23.7% last week, implying a recovery that is driving more demand for the meme coin.
Dogecoinâs recovery approaches key resistance
Dogecoin struggles to clear the $0.0770 resistance level, which has capped the rebound from $0.0700. DOGE remains below the 50-day Exponential Moving Average (EMA) at $0.0854 and the 200-day EMA near $0.1105, keeping the broader trend capped in a bearish trend.
If DOGE clears the $0.0770 level, it could open the path toward the 50-day EMA at $0.0854. The meme coin should surpass the EMA to signal a definitive bullish trend reversal.
A mildly positive Moving Average Convergence Divergence (MACD) histogram, as the average lines trend upward after a bullish crossover on Thursday. The Relative Strength Index (RSI) hovers around 41, suggesting weak upside momentum and reinforcing the view that rebounds are likely to struggle while these moving averages sit overhead.
On the downside, initial support comes in at $0.0700, ahead of a more important horizontal floor at $0.0642, where buyers would need to step in to prevent a deeper slide in the daily structure.
(The technical analysis of this story was written with the help of an AI tool.)
