DOGE Surges 8% as Whale Buying Signals Bullish Breakout
Dogecoin experienced a significant price advance on August 8, 2025, as the memecoin surged 8.4% to $0.22 in a volatile 24-hour session. The rally unfolded in two distinct phases: an initial push to $0.213 in the early trading hours, followed by a second leg that drove prices to $0.223. The price movement demonstrated substantial volatility of 9.5% and was accompanied by historic trading volumes.
Price action overview
- 24-hour range: $0.20β$0.22.
- Volatility: 9.5% over the session.
- Peak trading volume: over 1 billion DOGE vs. daily average of 378 million.
- Resistance zone: $0.222β$0.224.
- Support level: firm at $0.220.
Whale accumulation
On-chain data revealed that large wallets accumulated more than 1 billion DOGE within a 48-hour period. This level of institutional-scale buying provided upward momentum, raising confidence among traders and analysts who target further price gains toward $0.34 and $0.50 in subsequent rallies.
Technical indicators
- RSI nearing overbought thresholds historically linked to 70% rallies.
- Inverse head-and-shoulders pattern formation, suggesting continuation.
- Liquidation clusters around the $0.21 level indicated buyer conviction.
- Hourly consolidation between $0.2208 and $0.2223 on declining volume, pointing to a pause before the next move.
Trader focus areas
Market participants will monitor whether short squeezes trigger further breakouts above $0.224, and whether sustained whale activity maintains upward pressure. The broader meme coin sentiment, as well as macro-level digital asset flow, will influence the immediate outlook for DOGE and similar altcoins.
By Shaurya Malwa, CD Analytics.
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