Key Insights:
- DOGE forms bullish inverse head & shoulders on 4H chart near $0.17 neckline.
- The weekly chart shows cup and handle forming, signaling macro upside toward $1.
- Whales accumulated 800M DOGE in 48 hours, backing technical breakout signals.
Dogecoin (DOGE) price showed signs of a bullish breakout after forming key technical patterns and witnessing strong whale accumulation. Notably, an inverse head and shoulders appeared near the $0.17 neckline, backed by over 800 million DOGE bought by whales within 48 hours. On the macro level, a maturing cup and handle structure also emerged on the weekly chart. Analysts identified these trends, suggesting a synchronized upward shift across timeframes.
Inverse Head and Shoulders Pattern
Trader Tardigrade pointed out that Dogecoin price formed an inverted head-and-shoulders pattern on the 4-hour chart after a breakdown below $0.15. Notably, it incorporated a deep part around $0.145 as the head and two lower deep troughs or the shoulders around $0.158 and $0.162.
The price approached the neckline at $0.17, a key resistance level that needs to be cleared for confirmation.
The price action leading up to the pattern showed a steady recovery with higher lows. While the top altcoin price hovered slightly below the neckline, volume indicators suggested steady accumulation during the rebound. Historically, this chart setup indicated a trend reversal when confirmed by strong volume expansion.
Additionally, Tardigrade’s analysis projected an upside target between $0.19 and $0.20 following a successful breakout. The forecast was based on the vertical height from the pattern’s head to the neckline. DOGE price remained positioned just under resistance as of the last market update, aligning with broader altcoin recovery seen in early April.
Whale Accumulation of 800 Million DOGE
Interestingly, crypto analyst Ali Martinez reported that recently, whales have been purchased more than 800M DOGE in less than 48 hours. This buying spree was accompanied by other bullish patterns, suggesting confidence among investors.
Furthermore, the increase in the number of whales’ wallets corresponds to the moments of testing key levels on the chart, which showed that such buys are quite purposeful.
More so, Martinez emphasized that such large-scale accumulation typically preceded upward moves, especially when technical conditions supported a reversal. In this case, the data backed Tardigrade’s pattern and hinted at a growing interest in Dogecoin’s upside potential.
Additionally, Martinez noted this accumulation was not an isolated event but part of a recent trend of rising whale interest in top meme coins.
The on-chain activity complemented the technical analysis, specifically highlighting the positive sentiment among the whales. These activities, in conjunction with the structural breakout, put a foundation for the meme coin rally above resistance levels.
Long-Term Cup and Handle Structure
Furthermore, the weekly technical analysis of Coinvo revealed that a cup-and-handle pattern, which is a long-term bullish formation, was formed. This formation began in 2021 after Dogecoin price fell from an all-time high of above $0.70. In this period, it created a broad “cup,” and the handle was formed in a minor selloff in 2025.
The pattern’s neckline is near $0.70, and Coinvo’s analysis suggested a long-term target of $1.00 if this level is eventually broken. The technical shape followed the classic formation of a rounded base, reduced volume in the handle, and steady support levels.
Coinvo added that the Relative Strength Index (RSI) remained neutral, indicating DOGE still had upside room before becoming overbought.
This multiple-year formation suggests DOGE is still in a consolidation phase, potentially setting the stage for a much larger rally.
At the time of writing, DOGE price traded at $0.1591, down 2.54% in the past 24 hours. It had a market cap of $23.68 billion, with 148.86 billion DOGE in circulation.
Disclaimer
This article is for informational purposes only. Crypto investment involves inherent risks due to the volatility in price. Readers should conduct their research before making any investment decision. Also, you can consult a crypto expert before investing in cryptocurrencies.
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