NAIROBI (CoinChapter.com)—Dogecoin (DOGE) is showing signs of accumulation as large wallets increase their holdings, while market sentiment remains divided. Despite a two-month market downturn, smart money appears to be betting on a recovery, with analysts pointing to key price levels that could shape DOGE’s next move.
Dogecoin (DOGE) Sentiment Flips as Accumulation Resumes
Dogecoin is attracting renewed interest from large investors despite broader market uncertainty. On-chain data suggests that wallets holding at least 1 million DOGE have rebounded during the latest price drop, indicating potential accumulation.
According to Santiment, Dogecoin’s active addresses have surged to a four-month high, even as the asset suffered a prolonged correction. Market participants appear divided, with retail sentiment remaining bearish while institutional players continue accumulating.
“We recommend keeping an eye on the rising level of wallets holding at least 1M DOGE,” Santiment stated in a recent update. The data suggests that despite a two-month retrace across the crypto market, key players see DOGE as a viable asset for future gains.
Historical Consolidation Patterns Signal Potential Breakout
Technical analysts have pointed to Dogecoin’s current price structure, which mirrors past consolidation phases before significant upward moves. Trader Tardigrade highlighted a key pattern, stating,
“Dogecoin repeats the consolidation at the previous tops,” hinting at a possible price rebound.
Similarly, analyst Crypto Lycus observed that DOGE has formed a bottoming pattern near $0.17 after a sharp decline from $0.50. He noted that this zone has previously acted as a base before major breakouts. A rebound from this level could push the price toward $0.25–$0.35, while a breakdown may bring it closer to $0.10.
“This is a crucial level for DOGE,” Crypto Lycus explained, emphasizing the asset’s historical behavior around such support zones.
Smart Money Bets While Retail Remains Bearish
The contrast in sentiment between institutional and retail traders remains stark. Market Prophit’s latest sentiment analysis shows that while the broader crowd remains bearish, institutional “smart money” is turning bullish.
“CROWD = Bearish, MP | Smart Money = Bullish,” Market Prophit revealed. This divergence often suggests that larger players are positioning themselves ahead of a potential price move, a common pattern seen before major market shifts.
Further supporting this outlook, Daan Crypto Trades noted that DOGE has reclaimed an important election-related level after sweeping it. He described this as a key technical development that often precedes relief rallies.
Can Dogecoin Sustain an Uptrend?
Despite growing institutional accumulation and historical bullish patterns, Dogecoin remains at a pivotal point. The asset’s future trajectory depends on whether it can hold the $0.17 support level and attract sustained buying pressure.
While some traders, such as CryptoELlTES, remain highly optimistic—predicting a move toward $5—others remain cautious, emphasizing the need for confirmation signals. The divergence in sentiment highlights the ongoing uncertainty in the crypto market, with DOGE at the center of contrasting narratives.
