Dogecoin Strengthens Its Bullish Structure as Whale Transactions Drop to Two-Month Lows

Dogecoin Rally Fueled by Retail as Whale Activity Drops to Two-Month Low

Dogecoin surged past key resistance levels on strong volume, driven primarily by retail investors, even as whale activity fell to its lowest in two months.

Market Context
The rally coincided with moderate but steady inflows into 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 to $2.85 million since launch, according to SoSoValue. While modest, these flows signal early adoption by traditional investors and provide a small tailwind for DOGE amid broader memecoin market weakness.

Technical Analysis
DOGE’s chart shows a reinforced ascending channel, anchored by higher lows at $0.1469, $0.1488, and $0.1512, indicating sustained accumulation. Volume expanded on upward moves and contracted on pullbacks, a hallmark of a healthy bullish trend.

The breakout above $0.1505 marked the first resistance clearance since late November, with Tuesday’s volume spike — triple the daily average — confirming the move. Despite low whale activity, momentum remains constructive, with rising channel support, increasing breakout amplitude, and orderly reactions to intraday dips.

The $0.1470 support band now acts as a key technical pivot, while $0.138 continues to serve as the major structural floor, aligning with the 0.382 Fibonacci retracement and the 200-week moving average.

Price Action Summary
DOGE accumulated steadily before breaking $0.1505, with the rally accelerating around 14:00 GMT on volume of 874.7M tokens. After a brief pullback to $0.1513, buyers reasserted control, confirming support. The token pushed toward $0.1530, closing in the upper half of the day’s range and signaling ongoing bullish dominance.