Dogecoin's recent price action has seen the cryptocurrency break above multiple key moving averages, marking a significant technical shift in its trend. This development comes on the back of renewed ETF inflows and sustained institutional engagement.
According to data, whale wallets have reached record accumulation levels, holding over 108 billion tokens. This represents a significant increase in large wallet activity, with 149 wallets now controlling a combined 108.52 billion DOGE. The transaction counts above $100,000 also surged to 739 in a single day, the highest in six months.
The derivatives data shows rising open interest with declining volume, indicating strategic positioning by traders. Short liquidations have accelerated upward momentum across the market, with shorts accounting for over $3 million in liquidations within 24 hours.