Dogecoin (DOGE) has faced substantial volatility amid a broader market downturn, shedding 36% of its value. However, recent indicators suggest a potential reversal may be in play, with increased whale activity and bullish technical signals hinting at an upward move.

Market Overview and Recent Performance

DOGE is currently trading at $0.167, with a 24-hour volume of $2,28 billion and a market cap of $24,94 billion. Despite a ~0,66% decline in the past 24 hours, the asset still holds a 0,92% dominance in the crypto market. A modest 2% gain last week suggests some buying pressure, though broader sentiment remains cautious.

Technical analysts are closely monitoring the Stochastic RSI, which indicates that DOGE may be nearing the end of its downtrend. Crypto expert Trader Tardigrade suggests that if momentum shifts, Dogecoin could see a renewed push toward the $1 level. Historically, similar RSI patterns have preceded significant price recoveries.

Whale Accumulation Fuels Optimism

Large-scale investors have been actively accumulating DOGE, with over 110 million tokens purchased in the past week. This surge in whale activity signals growing confidence in the asset’s potential, reinforcing the bullish case for an upcoming breakout.

Will DOGE Rally to $1?

While Dogecoin remains vulnerable to short-term volatility, a combination of technical support and strong buying interest from major investors could provide the catalyst for a rebound. If DOGE maintains its momentum and breaks key resistance levels, a move toward $1 may be on the horizon.