Dogecoin Whale Moves $92M As Analyst Predicts DOGE Price Rally to $0.27

7h ago•

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A large Dogecoin whale has withdrawn over 260 million DOGE from Robinhood in two separate transactions. These transfers, valued at nearly $92 million, have caught the attention of both retail traders and market analysts.

The Dogecoin whale movement comes just as technical patterns and derivatives data point toward a possible DOGE price breakout to $0.27.

Whale Transfers $92 Million to Unknown Wallet

Blockchain tracking services, including Whale Alert, recorded two large Dogecoin whale transfers from Robinhood to an unknown wallet. The first transfer involved 210 million DOGE, worth around $46 million, followed by a second one of 50 million DOGE. Both transactions occurred within a short time frame on May 20, 2025.

The receiving address is not labeled and has not shown any outgoing transactions so far. This wallet now holds approximately 420 million DOGE, worth nearly $92 million at the time of writing. It ranks among the largest wallets on the Dogecoin network.

No confirmation has emerged about whether the transfer is linked to internal restructuring, a change in custody, or a major investor exit. However, such large transfers away from exchanges are often associated with long-term storage or institutional custody.

Technical Patterns Indicate a Bullish Setup for DOGE Price

Traders have identified multiple bullish patterns on Dogecoin’s daily and 3-day charts. According to the chart analysis by TATrader_Alan, Dogecoin Price has formed a bullish expanding triangle. This pattern reflects rising volatility with higher highs and lower lows, and often precedes upward breakouts.

The DOGE price has also created an inverted head-and-shoulders pattern. The neckline was broken earlier this month near the $0.185 mark, which has now turned into support. Analysts expect the price to retest the $0.23–$0.24 zone, followed by a breakout toward the $0.27 level.

Bitcoinsensus noted that “the next target will be the supply zone at around $0.42 to $0.43 per DOGE,” if the rally extends further.

Moreover, the price is now above key moving averages, including 20, 50, and 100-day simple moving averages.

This position signals strength and sustained momentum for the meme coin, especially amid the soaring interest from the Dogecoin whales.

Derivatives Data In Tandem With Whale Accumulation

The recent on-chain data was in tandem with the latest Dogecoin whale accumulation. In other words, it indicates that the investors are regaining confidence in the leading meme coin.

Data from derivatives platforms such as Binance and OKX indicates growing interest in long positions. Open interest on Dogecoin futures is currently at $2.70 billion, with a 2.46% increase in the past 24 hours.

At the same time, options trading activity has also increased by over 9%, suggesting that market participants expect more price movement.

Sentiment remains positive, especially among top traders. On Binance, the long-to-short ratio for top accounts is above 3.7, meaning more users are betting on the Dogecoin price moving higher. The options market shows rising demand, with open interest up by more than 12% in the last day.

Short positions have seen a large number of liquidations. Over the past 12 hours, nearly $4 million in short positions were liquidated, compared to just over $1 million in long liquidations. This pattern often indicates that bearish traders are being pushed out of the market by upward price moves.

Analysts Monitor Retest Before Expected Dogecoin Price Breakout

The current standstill of Dogecoin at $0.2289 is believed by analysts to be natural, as it may indicate a new rise ahead. Many traders, including the Dogecoin whales, appear to be focusing on the $0.235–$0.24 area, as a breakout above it could make it easy to move toward $0.27.

The price is likely to head back to the descending trendline formed late in 2023. It effectively stopped rising in December and January, with the result that it is currently in line with today’s prices. If Dogecoin Price holds above $0.14, it could show there is strength to go higher and further push up demand.