Dogecoin, the beloved meme coin, surged by 5.05% in a dramatic late-session rally between 6:00 AM on July 13 and 5:00 AM today, climbing from $0.200 to $0.210. This rally was marked by a significant trading range of $0.01, equating to a 6% volatility—a sign of the vibrant market activity that catapulted DOGE past the critical $0.200 resistance level.
Whale Activity Fuels the Surge
The rally was fueled by substantial whale activity, with back-to-back volume spikes of 615.53 million and 581.80 million during the 3:00–4:00 AM session. These volume surges indicate strong institutional accumulation, as volumes consistently exceeded the 24-hour average of 268.45 million throughout late trading. Futures volumes weren’t left behind either, soaring to a hefty $1.50 billion, driven by multiple transactions exceeding $1 million across major derivatives platforms. This mirrors the trend seen in Bitcoin Cash’s recent rally, where whale activity and bullish technical signals played a crucial role.
“Whale activity has definitely played a pivotal role in DOGE’s recent rally,” notes crypto analyst Jordan Kane. “The level of institutional interest points to a shift from retail-led movements to more serious, high-stakes plays.”
Macro Trends and Market Sentiment
Dogecoin’s breakout aligns with a broader uptrend in the cryptocurrency market, buoyed by easing Federal Reserve rate expectations and improving trade relations between BRICS countries and the United States. These macroeconomic factors have created a risk-on environment, with Bitcoin’s ascent to a new all-time high of $118,000 providing additional momentum for meme coins and altcoins alike. For more on how traders are reacting to whale movements, see our coverage of how crypto traders are responding to dormant Bitcoin whale moves.
The derivatives market reflected this bullish sentiment, with DOGE futures open interest and volume reaching their zenith for July. This surge in market activity indicates an optimistic outlook among traders, who are closely eyeing the next resistance levels at $0.213–$0.215.
Technical Insights and Future Prospects
Technically speaking, DOGE’s breakthrough of the $0.200 resistance was underpinned by robust triple-digit million volumes. High-conviction buyers managed to defend this level through retracement attempts, signaling sustained demand. As the session drew to a close, DOGE’s momentum didn’t falter, suggesting a bullish continuation setup. Traders are now turning their attention to the $0.213 resistance zone, which could pave the way for a further advance to $0.218–$0.220.
“The key question now is whether DOGE can maintain its position above $0.208–$0.210,” remarks Kane. “Consolidation here might indicate a solid base for a potential push towards $0.215 or higher.”
Looking Ahead
As DOGE establishes $0.200 as its new base, bulls are eagerly watching for a breakout above $0.213. With macroeconomic tailwinds aligning with whale accumulation, the stage seems set for Dogecoin’s next leg up. However, traders should remain vigilant, keeping an eye on futures open interest and whale wallet activities to confirm this trend’s longevity.
Despite the positive momentum, there’s a dose of skepticism in the air. Can Dogecoin sustain its upward trajectory amidst the inherent volatility? As the crypto market continues to evolve, one thing is clear—DOGE’s journey is far from predictable, promising both excitement and caution in equal measure.
Source
This article is based on: DOGE Advances 5% on Late-Session Rally as Whale Activity Returns
Further Reading
Deepen your understanding with these related articles:
- Dogecoin, Solana, Ethereum Drive Crypto Markets Higher as Bitcoin Stays Flat
- Ether, Dogecoin Lead Crypto Gains as Firms Signal ‘Prime’ Breakout Chance for Market
- Bitcoin Whales Scoop Up BTC as Price Nears Record High in Sign of Growth Expectations
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
