Dogecoin has fallen 5.15% in the past 24 hours to trade near $0.10, with all eyes now on the $0.09 support zone. Both on-chain data and technical charts point to an unresolved battle between bulls and bears.
Whales Accumulate 330M DOGE in April
On-chain analytics firm Santiment tracked a rapid accumulation of 330 million DOGE by large wallet holders (whales) in April 2026. Analyst Ali Charts noted: “Dogecoin whales purchased roughly 330 million DOGE in April 2026; even if this move doesn’t immediately affect price, it signals heightened interest from major players.”
Whale wallets now hold a combined 18.4 billion DOGE. However, because Dogecoin’s circulating supply keeps increasing, whale buying on this scale tends to have a less immediate impact compared to other digital assets. Still, these large holdings continue to keep long-term investor expectations alive.
Multi-Year Bullish Pennant on Monthly Chart
Trader TATrader_Alan highlighted a multi-year bullish pennant pattern forming on Dogecoin’s monthly chart since 2021. These setups often precede major price moves. Should the pattern persist, market participants are talking about targets stretching into the 2030s, though these projections are tied to broader capital flows and market appetite.
While several analysts interpret these long-term formations optimistically, many say they need confirmation via higher volume or time frame signals before expecting a decisive upward breakout.
Short-Term RSI Warning Signs
Current technical indicators show a divergence between price action and the Relative Strength Index (RSI). With RSI posting lower highs as price tests a critical region, the risk of increased selling pressure in the short term is growing. Analyst VIAQUANT noted the double top pattern and the risk of an RSI breakdown on the daily chart, suggesting a possible retreat to the $0.09 support zone.
In this scenario, Dogecoin may lose upward momentum and enter a period of price discovery. This recent loss of short-term momentum has already started to dampen buyer enthusiasm in the market.
Market Structure: Accumulation and Distribution in Balance
The broader market picture is shaped by signals of whale accumulation, ongoing efforts by the price to hold a strong support area, and a sense of fatigue in technical indicators. Neither buyers nor sellers have gained clear dominance. Many technical experts believe a sustained hold above the main support line could spark another upward move, but warn that broken support might lead to a test of weaker liquidity levels lower down.
Latest data from CryptoAppsy show Dogecoin trading near $0.10, with the $0.09 level under particularly close watch for near-term support.