Analyst: Dogecoin's rally intensifies, whale activity hits a six-month high

CryptoWorld News reports that Dogecoin has performed strongly over the past week, with the trading price nearing $0.109, daily trading volume remaining steady, and market capitalization rising. On-chain data shows that whale transaction counts have increased significantly. The network has recorded 739 transfers exceeding $100,000, while holders currently control 1085.2 billion Dogecoin, reaching a new all-time high. Santiment notes that Dogecoin’s 14% gain over the past 10 days is likely not a coincidence.

The Relative Strength Index (RSI) on the daily chart has risen to above 70, which typically indicates an overbought condition. The current reading is close to 73, showing strong buying pressure, but it also increases the risk of a short-term pullback. Even so, the MACD indicator remains in the positive zone: both the signal line and the MACD line are trending upward, confirming sustained bullish momentum in the short term.

Price action suggests Dogecoin is approaching the key resistance zone around $0.11. Analyst Ali Martinez said that “the TD Sequential indicator flashed a sell signal on Dogecoin,” and another trader noted that it has repeatedly been rejected at the resistance level, implying that “a drop is about to come.” These signals stand in contrast to whales’ strong accumulation and ongoing momentum.