Dogecoin is up almost 14% in the past month and130% year-over-year. It’s one of the few meme coins still green on the week (3%) despite a 24-hour dip. The question now: consolidation or trend fatigue?
Three linked signals say the former is still on the table.
Mega Whales Buy the Dip, And Set the Tone
Since August 14, mega wallets (≥1,000,000,000 DOGE) lifted holdings from 70.84 billion to 71.11 billion DOGE — an addition of almost 270 million.
That buying appeared right as the Dogecoin price probed a key short-term support zone of $0.21. This fresh round of buying shows that large holders remain confident in the coin’s upside potential. And that’s the first bullish sign out of three.
Whale buying is our starting cue: large balance buyers are absorbing weakness rather than distributing into it. The next check is whether broader selling pressure actually eased.
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Dogecoin “Spent Coins Age Band” Shows Selling Pressure Easing
The Spent Coins Age Band tracks how much previously dormant supply (by age cohorts) is being spent. Falling prints mean less old supply hitting the market; often a relief during mid-rally consolidations .
Since yesterday, DOGE’s spent output has slid from 429.77 million to 209.72 million. In other words, while mega whales were adding, older coins stopped showing up in size.
Together, these two shifts describe the same view: dip absorption by big holders alongside cooling distribution from long-held coins. The last time the Dogecoin price rallied, the spent coins age band metric hit a monthly low between August 2 and August 5.
Dogecoin Price: Bullish Pattern And A Key Trigger Zone
Why the 4-hour chart? It captures short-term follow-through from on-chain shifts faster than the daily, which is still a tad slow for now.
On the 4-hour timeframe, DOGE is trading inside an ascending triangle with stacked hurdles near $0.232, $0.239, and $0.246. These closely stacked resistance levels matter when looking at a shorter timeframe.
The $0.232 area has been contested repeatedly; clear acceptance above it would hand momentum back to buyers and could pull the daily structure higher. Bull-Bear Power on the 4-hour timeframe is lifting off its lows, implying bear pressure is fading into this squeeze.
The Bull Bear Power indicator measures the balance between buyers (bulls) and sellers (bears) in the market. It compares the highest price in a period with an exponential moving average (EMA) to estimate bullish strength, and the lowest price with the EMA to gauge bearish strength. When the BBP moves toward positive territory, it suggests buyers are gaining control; when it moves deeper into negative territory, sellers dominate.
If whales continue to add and the Spent-Age metric remains muted, a break to the topside is the higher-probability path. A decisive drop below $0.216, more like a whole candle close, would negate this short-term bullish setup for the Dogecoin price and reopen downside.
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