Dogecoin Nears $0.10 Dream as Whales Add 330 Million DOGE in Days - U.Today

Dogecoin extended its recent rebound from an April 13 low of $0.09 as capital rotated into the altcoin sector. According to Ali charts, Dogecoin whales accumulated about 330 million DOGE over the last few days.

Dogecoin rose near the $0.10 level, but bulls were unable to advance the move, with the price only touching $0.0998 on Thursday and $0.996 on Friday.

It appears that derivatives and leveraged positioning also contributed. Traders building short positions and betting against a breakout created conditions for a potential short squeeze, boosting upward momentum.

This is seen in short liquidations surpassing those of long positions, coming in at $3.99 million, while long liquidations totaled $2.59 million. The move happened over a series of higher lows, which meant that the price was steadily building up rather than having one big jump.

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The price increase is backed by volume, with derivatives volume rising 56% in the last 24 hours to $3.63 billion and spot trading volume increasing 62% in the same time frame to $2.84 billion, which confirms participation and not just thin liquidity.

$0.10 level comes into focus

At the time of writing, DOGE was up 2.51% in the last 24 hours to $0.0979 and up 6.08% weekly. With Dogecoin’s recent attempts stalling slightly above $0.099, the $0.10 level now comes into focus.

Traders are watching $0.104 as key resistance and 0.096 as near-term support, with a drop below the $0.092-$0.090 area likely suggesting a further decline.

However, the broader structure remains that of sideways trading below descending resistance, not a confirmed trend reversal. Open interest has risen in the last 24 hours, up 7.73% to $1.37 billion, according to CoinGlass data.

The larger crypto markets are still mixed right now, with money moving into certain crypto assets instead of causing a full market-wide rally. Dogecoin’s main resistance level is $0.10, and a clean break may be needed to confirm that the price will continue to rise.