Since the Dogecoin chart on a weekly timeframe has already completed a full bear cycle from the $0.73-$0.75 high down to the $0.049 low, it is worth noting that DOGE has formed a solid base in 2022 and later on. The most critical area to consider is $0.13-$0.16.
According to crypto analyst @btcbalo, upside levels start around $0.22-$0.25, where the price previously stalled and where the 0.5 Fibonacci retracement level lies. Above that, $0.35-$0.36 is the most important barrier, lining up with the long-term downtrend. A solid weekly close above this area would confirm a trend shift and open the path toward $0.48 next.
Once $0.48 is cleared, DOGE could move into a stronger expansion phase, with the old highs between $0.73 and $0.75 coming back into focus. That would complete the full bullish cycle. The setup weakens if weekly closes drop below $0.12 and break structurally below $0.10, leading to longer consolidation.
Also Read: Dogecoin Struggles Below Resistance, Breakdown Opens Path Toward $0.105
Whale Activity Signals Growing Interest
Whales have accumulated over 220 million $DOGE within the last 24 hours, indicating massive traction with large investors. Such massive buying may limit the supply of this coin in the market and soon grab the attention of traders and crypto enthusiasts.
The rise in whale purchases is also believed to indicate a rise in bullish market sentiment. It is also believed that such purchasing may soon result in an increase in the price of Dogecoin if the trend sustains. This particular trend is being closely watched by the market, as it sometimes indicates major changes in the market.
Institutional Investment Likely If Approved ETF
However, the SEC has a crucial date on January 9, 2026, to decide on the 21Shares spot Dogecoin ETF. This is significant as it will set the tone for the future of cryptocurrency investments. Such a decision will also establish guidelines for other funds to follow.
If this ETF is approved, this will be a huge milestone not only for Dogecoin but also for adoption in crypto assets overall. Institutional investors might just begin to invest in this market, thus increasing liquidity. This might also shine a light on the acceptance of crypto assets in traditional markets.
Also Read: Dogecoin (DOGE) Holds Key Support as Analyst Eyes to $0.65 Target
