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Dogecoin (DOGE) attracted renewed market attention after analyst Ali Martinez highlighted rising whale accumulation and stronger network activity while the token traded within a tight range.
Martinez said large holders bought more than $330 million worth of DOGE over the past week during a consolidation phase, when price moved within a narrow band without a clear breakout. He linked the buying activity to supply absorption that can help establish a stronger price floor, suggesting bigger participants may be positioning for a potential move higher if resistance is overcome.
Dogecoin also recorded a sharp increase in transaction activity on April 16. Nearly $800 million moved across the network in 24 hours, one of the largest volume spikes seen this year. Martinez said such a jump in network activity often precedes stronger volatility, as major wallets may be repositioning during a period of relatively flat price action.
Martinez pointed to $0.1018 as the main resistance level. On the four-hour chart, DOGE has traded inside a parallel channel, and the mid-range level at $0.1018 has blocked five straight breakout attempts.
He said he is watching for a confirmed four-hour close above $0.1018 accompanied by stronger volume. In that scenario, he wrote that a breakout above $0.1018 could open the way for a move toward $0.1172, the upper end of the channel.
At the time of reporting, DOGE traded at $0.098. The token was up 3% on the day and up 5% over the week. Over the past 24 hours, trading volume reached $1.34 billion. Dogecoin’s market capitalization was near $15.06 billion, based on a circulating supply of 150 billion tokens.
With price still below the $0.1018 resistance area, analysts are focusing on whether DOGE can secure a four-hour close above that level on increased volume, which would support a potential breakout toward $0.1172.
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