Dogecoin price breakout signs are forming, but the move has not yet come through. At press time, Dogecoin trades flat at above $0.27. On the 12-hour chart, the coin is shaping a highly bullish pattern breakout setup that projects a target as high as $0.41, a 46% rise from current levels.
Still, the move is taking longer to arrive because of weak reactions to market events and the calm before the upcoming price surge. Read on to learn why the upcoming rally might just be delayed rather than denied.
Whales And Key Holder Groups Add To Their Positions
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Large holders have stepped up since the Fed rate cut hype cooled down and the Dogecoin ETF launched on CBOE (Chicago Board Options Exchange). The group holding 100 million to 1 billion DOGE grew their balances from 26.7 billion on September 17 to 27.4 billion on September 18.
That’s a 24-hour accumulation of 700 million DOGE (roughly $196 million).
That is a sizeable increase in just one day, showing big wallets are betting on higher prices.
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The HODL Waves, which track supply by holding time, also reveal conviction from two extreme hodling groups. Very short-term holders (1 day to 1 week) expanded their share from 0.84% on August 25 to 3.53% by September 18, likely chasing the ETF buzz.
At the same time, the 1–2 year group, long-term holders who are already in profit after a 166.5% year-on-year gain, also raised their share from 22.19% in mid-August to 23.63% now.
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Author: Ananda Banerjee
