Dogecoin News Today: DOGE Surges After Whale Buying, Price Rebounds to $0.26

Dogecoin price has regained above $0.26 after dropping to a low of $0.248 during intense trading on October 4. Once the flushout cleared the weak positions, buyers entered to assist in pushing the token into a developing ascending channel position.

A significant increase in trading volumes accompanied the rally. CoinDesk data revealed that transactions surged to almost $485.6 million in DOGE during the Saturday session, indicating institutional activity. As prices stabilized, DOGE closed close to $0.252 before reaching $0.26 again by early Sunday.

Reports indicate that large holders have accumulated approximately $2 billion in DOGE over the past 72 hours. Such moves are similar to previous pre-breakout periods, during which whale inflows created momentum for long rallies. Analysts say this buildup strengthens the argument for testing higher resistance levels.

Technical Outlook Points to $0.30 Resistance

Dogecoin has been trading in a range of $0.24-$0.27 through September. The recent recovery has established a strong support base at $0.247 - $0.249. With the token now consolidating above $0.26, some traders are now looking at $0.30 as the immediate resistance zone.

Short-term technicals are mixed, with resistance at $0.265. The targets are $0.30 and $0.33, with wider targets available. Momentum indicators are a sign of steady purchase because the last 60-minute candle of the week increased by 0.5%, or $0.251, to $0.252. If buying pressure continues to rise, analysts indicate a potential breakout to the $0.33-$0.40 range. 

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Larger Market and Catalysts of Interest

Dogecoin has reacted positively after the crypto market recovered the $1.7 billion in liquidations that occurred last week. Traders returned to high-beta assets, resulting in inflows to assets such as DOGE.

New regulations can also affect sentiment. The SEC's decision regarding Dogecoin ETF filings could serve as a short-term catalyst, attracting new institutional investment. Participants in the market are closely observing whether Doge can sustain the daily close above $0.26 to confirm the validity of their concept.

With a bullish whale accumulation and a technical level in place, buyers will be keen to see if the token can hold the resistance at $0.30 and continue its upward progression towards higher breakout levels.