Dogecoin Whales Accumulate $14M as Open Interest Surges Past $1 Billion

Dogecoin (DOGE) has seen significant whale activity and expanding derivatives market metrics. Major investors accumulated 200 million DOGE tokens through Robinhood, worth approximately $14 million.

Open interest in DOGE derivatives surged past the $1 billion milestone, reaching $1.08 billion, accompanied by a 114% spike in trading volume to $739.56 million.

Market analysts have identified a double-bottom formation with potential price objectives ranging from $0.653 to as high as $3.25. The meme cryptocurrency is currently trading near $0.072, maintaining its position above critical $0.070 support level.