Dogecoin (DOGE) Whales Accumulated Over 1 Billion DOGE Ahead of Potential Breakout to $0.29

Recent market data and bullish analyst commentary point to a potential breakout to $0.29, supported by strong whale activity and a solid support base

Recent market observations and bullish analyst commentary suggest that Dogecoin (DOGE) could be poised for a breakout to $0.29.

This prediction is fueled by several factors, including:

* A critical support level forming around $0.21.

* A bullish flag pattern emerging on the chart.

* Signals of whale accumulation in large volumes.

Dogecoin whales have made significant moves, accumulating over 1 billion DOGE during a period of heightened volatility. According to CoinDesk Research, this brings their total holdings to 25.97 billion DOGE by mid-May.

This institutional and high-net-worth interest in Dogecoin is evident even amid broader crypto market fluctuations in response to macroeconomic pressures, such as global geopolitical tensions and shifting trade dynamics.

Dogecoin continues to display resilience, outperforming many altcoins in terms of stability and recovery momentum.

Despite a 4.3% price range fluctuation over the last 24 hours, DOGE managed to post a modest gain, closing the day at $0.2194 on May 18.

Technical indicators show DOGE has formed a critical support level around $0.212, a key price point that has consistently attracted high-volume rebounds—an encouraging sign for bulls.

This analysis comes as crypto analyst and influencer Carl Runefelt, widely known as The Moon Carl, recently noted that Dogecoin is showing signs of a bullish breakout, with potential to hit $0.29.

“Dogecoin is heating up again. Buy it on @LBank_Exchange where they have 0% maker fee and they are running a 30,000 USDT trading competition. Join via my link and get 10 USDT bonus. Trade Volume 100,000 USDT = 50000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000