Dogecoin whales buy 680 million DOGE in less than a week; Is $0.5 next?

Dogecoin (DOGE) is recording increased whale activity, a move that could set the stage for the meme coin to make another attempt at the $0.50 resistance.

On-chain data indicates that the largest holders accumulated about 680 million DOGE within 96 hours, according to insights shared by Ali Martinez on September 16.

DOGE whale accumulation. Source: Santiment**DOGE whale accumulation. Source: SantimentThe buying spree, which involved wallets holding between 100 million and 1 billion DOGE, coincided with a notable price rally. Dogecoin climbed from around $0.22 at the start of September to a peak above $0.28 before pulling back slightly.

Such accumulation often precedes strong price movements, potentially laying the groundwork for DOGE to challenge the psychological $0.30 resistance

Key DOGE price levels to watch

If bullish momentum holds, traders are eyeing the $0.35–$0.40 zone as the next hurdle. A breakout above these levels could set the stage for a run toward the highly anticipated $0.50 milestone, last seen during the previous bull cycle.

However, failure to hold support near $0.25 could undermine the bullish thesis and trigger a deeper correction.

Adding to the optimism, pseudonymous cryptocurrency analyst Trader Tardigrade suggested in an X post on September 15 that DOGE might be laying the foundation for a new record high later this year, with a potential surge to between $3.2 and $5.3 by December 2025.

Trader TardigradeDOGE price analysis. Source: Trader TardigradeDOGE price analysis. Source: Trader Tardigrade**DOGE price analysis. Source: Trader TardigradeHistorically, Dogecoin has shattered its all-time highs with strong, rapid moves in each cycle. In previous runs, DOGE gained more than 1,500% in 111 days and over 2,500% in just 99 days, showcasing its tendency for parabolic breakouts.

So far, this cycle has yet to see such explosive action. If history repeats, a fast rally toward multi-dollar levels could still be ahead.

Dogecoin price analysis

At press time, Dogecoin was trading at $0.27, up nearly 1% in the past 24 hours and almost 6% on the weekly chart.

DOGE seven-day price chart. Source: Finbold**DOGE seven-day price chart. Source: FinboldWith whale accumulation and technical indicators signaling a possible rally, Dogecoin now needs support from the broader cryptocurrency market to sustain any bullish push toward the $3 resistance.

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