Dogecoin Price Forecast: Can Whales and a New Deal Reverse DOGE’s Weakness?

• Selling pressure persists in Dogecoin, which trades below $0.081 on Thursday despite a modest rebound earlier in the week.
• Accumulation of DOGE tokens by some whale wallets is evident in Santiment data.
• Fading technical momentum continues to restrain DOGE, despite Wednesday’s partnership announcement by Dogecoin Labs and the Dogecoin Foundation.

Pressure on Dogecoin (DOGE) has kept its price below $0.081 on Thursday, with the modest recovery earlier this week failing to lift it above that level. A slightly bullish undertone comes from signs of accumulation in Santiment data and Wednesday’s announcement of a partnership between Dogecoin Labs and the Dogecoin Foundation.

The meme coin’s recovery nevertheless faces constraints from mixed derivatives readings and deteriorating momentum indicators.

Can whale accumulation support DOGE?

Buying by some large-wallet holders, or whales, is helping cushion DOGE’s decline. This activity in Santiment’s Supply Distribution data lends support to a mildly bullish outlook.

Since Tuesday, wallets holding between 1 million and 10 million tokens (yellow line) and between 10 million and 100 million tokens (blue line) have added 170 million DOGE tokens, according to the metric. Their purchases have helped support a modest recovery.

How is Dogecoin Labs bringing product teams together?

Products, intellectual property and development teams supporting the Dogecoin ecosystem are being brought together under a single independent organisation. Dogecoin Labs said on Wednesday that it had been formed in partnership with the Dogecoin Foundation.

The DogeOS press release stated: “Led by CEO Jordan Jefferson, founder of MyDoge and DogeOS, Labs will combine application infrastructure, consumer distribution and development expertise to build an economy around DOGE at the scale of its global community,”

With intellectual property and development teams contributed by both the Dogecoin Foundation and House of Doge, Dogecoin Labs will take ownership of and operate MyDoge, DogeOS and Such App.

By simplifying development, bolstering ecosystem infrastructure and widening DOGE’s real-world uses, these partnerships could underpin a bullish longer-term outlook.

Why are derivatives readings holding back the recovery?

Caution towards the meme coin is reflected in derivatives positioning. On Thursday, CoinGlass’ long-to-short ratios for DOGE stood at 0.80, close to the lowest reading in over a month. Readings below one signal bearish sentiment, with traders positioning for a fall in asset prices.

A mildly bullish signal, however, comes from Dogecoin’s funding rates. Having turned positive on Monday, they stood at 0.0055% on Thursday, showing that long-position holders are paying short-position holders.

What is driving caution in on-chain data?

A bearish picture for Dogecoin emerges from CryptoQuant’s summary data. Large whale orders are visible in DOGE’s futures markets, while both markets display overheating conditions. Selling also dominates activity in the spot and futures markets, underscoring the cautious, bearish bias among traders in the dog-themed meme coin.

Dogecoin technical outlook: Can a recovery overcome weak momentum?

A bearish near-term bias persists as Dogecoin trades at $0.080 on Thursday, below its key Exponential Moving Averages (EMAs). Overhead supply is concentrated around the 100-day EMA near $0.085, the 50-day EMA near $0.086 and the previously breached ascending trendline around $0.088. Further up, the 200-day EMA near $0.092 adds to the broader resistance facing the price.

Weak momentum adds to the challenge. The Relative Strength Index (RSI) is edging just below the neutral 50 mark, while the Moving Average Convergence Divergence (MACD) line remains under zero. With these barriers still in place, rallies could struggle to gain traction.

Any advance would first encounter the $0.085–$0.086 resistance cluster formed by the 100-day and 50-day EMAs. Next comes the area near $0.088, where the former rising-trendline support meets a horizontal barrier. A more distant obstacle lies at the 200-day EMA around $0.092, ahead of the key horizontal ceiling at approximately $0.102.

Immediate downside support is located at about $0.077. A decisive breach would leave the price vulnerable to further losses; if that floor holds, the pair would remain in consolidation within its existing bearish-biased range.

(The technical analysis of this story was written with the help of an AI tool. Know more.)