Dogecoin Price Signals Bullish Reversal as Whales Buy 400M Tokens Near Support

Dogecoin price remains near $0.088 after rebounding sharply from the low-$0.08 region earlier this week.

DOGE climbed about 7.4% on Sept. 3, rising from roughly $0.0817 to $0.0878. The token held near that level on Sept. 4 after reaching an intraday area around $0.0884.

The recovery follows a correction from Dogecoin’s Aug. 22 high near $0.1003. Whale accumulation, a major on-chain cost-basis zone, and two technical reversal signals have added support to the short-term recovery thesis.

Dogecoin Price Recovers From Recent Sell-Off

Dogecoin reached $0.1007 on August 22 before sellers took control of the market. The decline erased more than 17% from that peak and pushed DOGE toward the low-$0.08 range. Buyers began returning after the token approached support near $0.081.

Trading activity has picked up during the recovery. CoinMarketCap shows 24-hour volume near $1.28 billion, an increase of more than 80%. Dogecoin’s market capitalization stands near $13.68 billion, while its circulating supply totals roughly 155.77 billion tokens.

The latest recovery follows several bearish daily sessions during late August. DOGE moved below $0.09 and continued falling until buying pressure appeared near its recent lows. The rebound has now returned the token toward the $0.088 area.

Doge price still sits below the August 22 peak, so the market has not fully recovered the losses from that correction. The recent move instead marks the first clear rebound after DOGE tested its lower support range.

Whales Buy More Than 400 Million DOGE

Large Dogecoin holders have increased their positions during the pullback. Crypto analyst Ali Martinez reported that whales accumulated more than 400 million DOGE over five days. The purchases took place while the token traded close to its recent support area.

Santiment data shared by Martinez shows whale holdings climbing from roughly 18.2 billion DOGE to about 18.7 billion DOGE. Most of that increase occurred between August 31 and September 3, when Dogecoin traded near its recent lows.

The timing of the purchases gives traders another data point around the $0.081 to $0.083 region. Instead of reducing their holdings during the decline, these large wallets added hundreds of millions of tokens. Doge price action still needs to hold above support and attract enough demand to extend the recovery.

Daily Chart Prints Two Reversal Signals

Dogecoin price daily chart has produced a TD Sequential buy signal after the recent decline. Traders commonly use the indicator to identify periods when an existing price trend may be approaching exhaustion. In this case, the signal appeared after DOGE crypto fell from above $0.10 toward $0.081.

The chart also shows a morning doji star near the same area. This three-candle formation can appear near the end of a downward move. It reflects a shift from strong selling pressure to a session in which buyers begin to regain control.

DOGE has moved higher since those signals appeared. The next nearby chart levels sit around $0.088, $0.091 and $0.094. A move through those areas would bring the token closer to the price range it traded in before the late-August correction.

The reversal pattern still depends on follow-through from buyers. A renewed decline toward the recent lows would return attention to the support zone that formed during the latest sell-off.

$0.0813 Becomes the Main DOGE Support

On-chain data identifies $0.0813 as a key Dogecoin support level. Glassnode’s URPD chart shows that almost 35 billion DOGE previously changed hands around that price. The large concentration means many existing holders acquired tokens near the same area.

Martinez points to $0.1552 and $0.1774 as higher levels to watch if DOGE holds the $0.0813 floor and extends its recovery. The URPD chart also shows another notable concentration around $0.0887, close to the token’s current trading range.

DOGE is also recovering while U.S. spot Dogecoin ETFs face weaker flows. The funds recorded roughly $763,000 in net outflows on September 2.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets can experience sharp price movements.