Dogecoin Price Signals Potential Rebound as Whales Accumulate and On-Chain Metrics Improve

Dogecoin price has faced sustained pressure in recent weeks, mirroring broader weakness across the crypto market and a cooling of speculative enthusiasm. Despite this pullback, emerging technical and on-chain indicators suggest DOGE may be approaching a stabilization phase, with early signs pointing toward a possible recovery rather than continued downside.

From a technical perspective, Dogecoin has formed a bullish divergence on its price chart. While the DOGE price printed a lower low over the past two weeks, momentum indicators such as the Relative Strength Index (RSI) have moved higher. This divergence often signals that bearish momentum is fading, even as price action remains subdued. Historically, such setups have preceded short-term trend reversals, especially when combined with supportive on-chain data.

On-chain metrics further strengthen the bullish case. Data shows that Dogecoin whales—wallets holding between 100 million and 1 billion DOGE—have returned to accumulation mode. Over a three-day period, these large holders acquired approximately 1.5 billion DOGE, valued near $185 million. Whale accumulation is typically associated with longer-term positioning rather than short-term speculation, suggesting confidence that current price levels may represent a local bottom.

Additional insight comes from the Net Unrealized Profit and Loss (NUPL) metric, which has fallen to around -0.25, marking a two-year low. This level indicates that a large portion of DOGE holders are sitting on unrealized losses, a condition often associated with market capitulation. In past cycles, Dogecoin price reversals have occurred when NUPL approached the -0.27 zone, as selling pressure tended to exhaust itself.

If the bullish divergence confirms, Dogecoin price could reclaim the $0.122 level as support. A sustained move above this zone may pave the way toward $0.131, with $0.143 emerging as a higher resistance target. However, failure to hold current support could see DOGE revisit $0.113 or even $0.110, which would invalidate the bullish outlook.

Overall, improving whale activity, deeply negative NUPL readings, and constructive technical signals suggest that downside risk for Dogecoin may be narrowing, setting the stage for a potential bounce if broader market conditions stabilize.