Dogecoin Reclaims Bullish Structure as Whale Activity Hits 2-Month Low

Dogecoin pushed through key resistance with its strongest volume in weeks, signaling retail-driven momentum even as whale activity fell to multi-month lows.

• Dogecoin’s latest move unfolded against a backdrop of modest but steady ETF participation.

• The two newly launched U.S. spot Dogecoin ETFs — Grayscale’s GDOG and Bitwise’s BWOW — recorded $177,250 in net inflows on December 3, bringing cumulative inflows since launch to $2.85 million, according to SoSoValue data.

• While not explosive, the flows indicate early-stage adoption among traditional investors as regulated DOGE products begin to establish a foothold. The broader memecoin market remained subdued, but continued ETF demand provided a small yet notable tailwind as DOGE attempted to reclaim key technical levels.

• DOGE’s structure strengthened notably as price confirmed an ascending channel built across three higher lows at $0.1469, $0.1488, and $0.1512. This pattern reflects sustained accumulation, with volume expanding sharply on every upward leg and contracting during pullbacks—exact behavior traders look for when differentiating true trend shifts from noise.

• The breakout above $0.1505 marked the first resistance clearance since late November. Tuesday’s volume expansion—triple the daily average—reinforced the legitimacy of the move.

• Despite declining whale involvement, the chart shows constructive momentum: upward-sloping support, increasing amplitude on each breakout attempt, and clean reactions to intraday dips.

• Importantly, DOGE maintains structural integrity above the $0.1470 support band. This area now acts as the technical pivot for continuation and defines the lower boundary of the ascending channel.

• On a higher timeframe, the $0.138 region remains the major structural floor aligning with the 0.382 Fibonacci retracement and 200-week moving average—levels that continue to attract long-term buyers.

• DOGE opened with steady accumulation before breaking resistance at $0.1505. The rally accelerated around 14:00 GMT as the volume spike hit 874.7M tokens. Price briefly pulled back to $0.1513 before buyers reasserted control, confirming the new support.

• Intraday action displayed clean bid absorption at each higher low while the upper channel boundary guided rallies toward the $0.1530 region. The session closed inside the upper half of the day’s range, signaling bulls maintained dominance.

• $0.1470 is now the key support level; holding it preserves the breakout structure
• Immediate upside target sits at $0.1530, with $0.1580-$0.1600 as the next resistance band
• Volume confirmation remains essential — a drop back below average may slow continuation
• Retail-driven rallies can accelerate quickly but also fade without institutional reinforcement
• Loss of $0.1470 risks a deeper pullback toward $0.1430 and, in extreme cases, the $0.138 macro support